Digital Financial Literacy
Mariela Zaldívar Chauca Deputy Superintendent of Market Conduct and Financial Inclusion
The Digital Revolution
4
What is happening in the World?
5
What is happening in the World?
6
What is happening in the World?
-6,0% -3,0% 0,0% 3,0% 6,0%
0- 4 5- 9
10-14 15-19 20-24 25-29 30-34 35-39 40-44 45-49 50-54 55-59 60-64 65-69 70-74 75-79
80+
Peru 2050
Hombre Mujer
-6,0% -3,0% 0,0% 3,0% 6,0%
0- 4 5- 9
10-14 15-19 20-24 25-29 30-34 35-39 40-44 45-49 50-54 55-59 60-64 65-69 70-74 75-79
80+
Peru 2025
Hombre Mujer
-6,0% -3,0% 0,0% 3,0% 6,0%
0- 4 5- 9
10-14 15-19 20-24 25-29 30-34 35-39 40-44 45-49 50-54 55-59 60-64 65-69 70-74 75-79
80+
Peru 2000
Hombre Mujer
More people has become familiar with ICTs
Source: INEI Peru: Estimates and Projections of the Total Population 1950-2050
Digital Native (born from 1980 onwards):
2000: 44% of the population
2025: 71% of the population
2050 : 89% of the population
Man Man Man Women Women Women
Deudores según grupo generacional
Source: SBS (June 2017)
31% 32%
40% 39%
28% 27%
0
1.000.000
2.000.000
3.000.000
4.000.000
5.000.000
6.000.000
7.000.000
Debtors by generation
26%
38%
33%
3%
3 20
4
32
55
52
52
47
29 19 44
21 13 9
2000 - 2005 2006 - 2010 2011 - 2015 2016 - 2017
Debtors composition by quinquennium of entrance to the financial system
Nativos Digitales Generación Y Generación X Baby Boomers
They look for transparency
Digitized and automated
services
They are volatile (loyalty,
tastes and preferences)
The customer
experience matters
Services aligned to
your tastes
Source: FISA Group
Key factors for the success of digital financial services
Simple
Accessible
Widely accepted
Safe
Focused on a need
What are the most important risks for the consumers?
10
Interruptions in services or networks
Lack of liquidity at the points of attention
Complex or confusing interface
Inadequate claim mechanisms
Lack of transparency
Inadequate business practices
Privacy and protection of personal data
Fraud (internal / external)
Adapted from “Well implemented digital finance: Reasons to improve mitigation of customer risks” (CGAP, 2015)
Consumer Empowerment in the Digital Era
12
As part of its digital strategy, the SBS uses ICTs to empower consumers
Financial Education and
orientation webs
E-learning
Comparators Financial tools
and games
massive communication,
alerts and reminders
App SBS
In this context the regulator: Designs a predictable and proportional approach to a regulation that does not limit innovative initiatives. Acts to empower the consumers as their own first line of defense.
13
App, websites, online procedures
The app has had more than 272 thousands downloads since it’s launch. In 28.08.17 the App SBS enter the top 15 in the Android downloads in Peru.
SBS App SBS’ Financial Orientation and Education webpages
Online procedures
14
E-learning and comparators
SBS’ Financial Education e-learning
“Finanzas en mi Colegio” e-learning (MINEDU-SBS-CEFI-APESEG)
SBS’ Comparators
Financial Tools and games
15
SBS’ risk bureau report
SBS’ Financial Education Apps
16
Massive Communications, alerts and reminders
Facebook live Mailing Risk bureau alert
Digital Financial Education for school children
Competition 19: Manages economic resources with responsibility.
Competition 28: He/she unfolds in a virtual environments generated by ICT.
Pilo
t Fi
nan
zas
en
mi C
ole
gio
(M
INED
U-S
BS-
CEF
I-A
PES
EG)
Tools for school children
The interrelation of both competences will support the use of digital finance.
Los Laureles 214, San Isidro, Lima – Perú Central telefónica: (01) 630-9000 www.sbs.gob.pe