Lara Storm, Growing Potential: Microfinance-Plus Approaches to Cultivating the New Generation of...
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Transcript of Lara Storm, Growing Potential: Microfinance-Plus Approaches to Cultivating the New Generation of...
![Page 1: Lara Storm, Growing Potential: Microfinance-Plus Approaches to Cultivating the New Generation of Young Clients](https://reader033.fdocuments.net/reader033/viewer/2022052907/55910e111a28ab20148b4602/html5/thumbnails/1.jpg)
![Page 2: Lara Storm, Growing Potential: Microfinance-Plus Approaches to Cultivating the New Generation of Young Clients](https://reader033.fdocuments.net/reader033/viewer/2022052907/55910e111a28ab20148b4602/html5/thumbnails/2.jpg)
• Today’s global youth population is largest in history of world.
• 1.5 billion people between 12 and 24.
• 1.3 billion of them live in developing countries.
• Youth comprise more than 50% of the population in some developing countries.
Why Youth? Why Now?
![Page 3: Lara Storm, Growing Potential: Microfinance-Plus Approaches to Cultivating the New Generation of Young Clients](https://reader033.fdocuments.net/reader033/viewer/2022052907/55910e111a28ab20148b4602/html5/thumbnails/3.jpg)
• 620 million unemployed youth (15-24)
• Adult -Youth Unemployment Globally - 1:2.8
• North Africa – 3.8
• SE Asia/Pacific – 5.0
Global Youth Unemployment
![Page 4: Lara Storm, Growing Potential: Microfinance-Plus Approaches to Cultivating the New Generation of Young Clients](https://reader033.fdocuments.net/reader033/viewer/2022052907/55910e111a28ab20148b4602/html5/thumbnails/4.jpg)
Designing YFS: How are youth-inclusive financial services unique?
Complementary non-financial services
Slight modifications to terms and conditions
Delivery channels and marketing techniques
![Page 5: Lara Storm, Growing Potential: Microfinance-Plus Approaches to Cultivating the New Generation of Young Clients](https://reader033.fdocuments.net/reader033/viewer/2022052907/55910e111a28ab20148b4602/html5/thumbnails/5.jpg)
• Young people are economically active
• Young people need savings
• Young people borrow money
• Existing youth clients demand more personalized services
• Young people need to learn while they are young
• Young people are an investment
Socio-Economic Case for Serving Youth
![Page 6: Lara Storm, Growing Potential: Microfinance-Plus Approaches to Cultivating the New Generation of Young Clients](https://reader033.fdocuments.net/reader033/viewer/2022052907/55910e111a28ab20148b4602/html5/thumbnails/6.jpg)
Business Case for Serving Youth
•Building brand identity
•Increasing client satisfaction/retention
•Cross- selling
•Corporate Social Responsibility (CSR)
•Not ceding market share to competitors
![Page 7: Lara Storm, Growing Potential: Microfinance-Plus Approaches to Cultivating the New Generation of Young Clients](https://reader033.fdocuments.net/reader033/viewer/2022052907/55910e111a28ab20148b4602/html5/thumbnails/7.jpg)
• More youth-friendly banking policy and regulation
• Increased funding and advocacy for product experimentation
• More research on what works
The Way Forward
![Page 8: Lara Storm, Growing Potential: Microfinance-Plus Approaches to Cultivating the New Generation of Young Clients](https://reader033.fdocuments.net/reader033/viewer/2022052907/55910e111a28ab20148b4602/html5/thumbnails/8.jpg)
The last word from the clients…