Evgeniya Samardak
MDM Bank, Head of Retail Business Department
In my opinion it is bank who have to teach young clients financial responsibility by means of transparent conditions understandable tariffs and literally built system of client communications (information systems, information accessibility, competence of employees). It is more important for the bank to build long-term relationship with a client introducing him the world of banking services step-by-step. For example clients should be informed that forming a could credit history in a bank gives him opportunity for lower interest rates and new mortgage, car and other loans.
Also banks can use gradation of interest rates to lowering in case of reaching specific turnovers on card balance and high quality of pay-offs.
It is important for the growth of level of financial literacy how the bank employees provide information about products, build the system of providing information like automatic reminder of pay-off period.
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Dmitriy Lepetnikov
VTB24, Head of Administration of mMarketing Strategy and Research
In our opinion modern Russian youth is quite responsible in their behavior. It is orientated on building a good career and understands that good credit history can help. Also young men estimate their selves as rather valuable, they want to place high position and reasonable salary immediately which does not correspond with their experience as usual.
The youth grew up in high tech world using social networks and other remote communication instruments, they appreciate their time since childhood. Remote online services which are easy to use are very important for them. Also the brand is very important as the society’s opinion means much for the youth which have to feel its own importance.
Of course there are irresponsible borrowers among young clients as in other age categories but it is more exception than a rule. Banks understand that in some time many of today’s student will achieve great goals in their career and become marginal clients.
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Denis Shlichkov
Commercial bank MIA, Head of PR and Advertising Department
Today many banks are ready to provide loans to people 21+. In our banks this limit is feasibly lower - 18 year olds can have access to credit funds including mortgage loans. Of course share of such clients is yet pretty low and mostly such loans are provided under conditions of social mortgage. But we should point out that quality of such credits is pretty high not worse than older clients’ one. This examples obviously proves that young people can responsibly care of their financial liabilities.
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