Banking a New Generation: Developing Responsible Retail Banking Products for Children and Youth

Guide / Handbook
Date Published: 
Mar 2014

Guidelines on developing appropriate innovative products which respect children's rights

This guide is intended to serve those organizations who are evaluating an existing investment in financial products for children and youth, and for those debating whether to enter the segment for the first time. It intends to help decision makers, product owners, and all stakeholders in the product development process understand the impact of working with children and youth. It provides guidelines on how to develop appropriate innovative banking and payment products, while respecting and supporting children'’s rights. The guide has been developed in three parts, and they discuss the following:

  1. Part one delivers advocacy, outlining the importance of investing in children and youth, insights into who they are and the key factors impacting their development. Provides information that is important to understand and bear in mind when interacting with this segment;
  2. Part two delivers guidance on children and youth focused product development. This section will help product development professionals understand young consumers’' needs and wants, and provides information on the components of a child and youth friendly product;
  3. Part three presents several banking products and related programs that are offered by financial institutions across the globe. The selected products embody certain features/facets that are child and youth friendly.