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Young people are a group of clients that are increasingly being served by commercial banks. Although usage of bank accounts, web portals or mobile applications to manage private money becomes a necessity for younger generations, a large part of children, youths and young adults remain unbanked. The main purpose of the paper is to characterise the profile of young people (up to 26 years of age) that do not use banking products and services. The authors investigated the reasons and terms for not adopting banking offers by children, youths and young adults. The paper also identifies the factors supporting financial inclusion of the aforementioned groups, as well as the time perspective of bank products being adopted by young people. The authors analysed literature and conducted survey research on a group of young people with the CAWI technique, as well as using non-parametric statistical tests and multivariate logistic regression to evaluate quantitatively the phenomenon. The main reason for not using banking products was being too young and lack of need, but not a lack of offers. The statistical analysis pointed out that the fundamental factor influencing the non-use of banking products was the level of education. The most important factors stimulating the financial inclusion of young people were lack of fees and attractive promotions. Young people as a rule declared the possibility of becoming bank clients in the long-term perspective.
Rocznik
Tom
Strony
23--34
Opis fizyczny
Bibliogr. 11 poz.
Twórcy
autor
- Department of Finance Management, Faculty of Economic Sciences and Management Nicolaus Copernicus University in Toruń
autor
- Department of Finance Management, Faculty of Economic Sciences and Management Nicolaus Copernicus University in Toruń
autor
- Independent researcher, Poland
Bibliografia
- 1. Buszko, M., Krupa, D., and Chojnacka, M. (2019a). Young people and banking products and services in Poland: fundamental aspects. Ekonomia i Prawo. Economics and Law, 18(2), 133-145, doi: 10.12775/EiP.2019.011.
- 2. Buszko, M., Krupa, D., and Chojnacka, M. (2019b). Young people and banking products and services in Poland: the results of empirical studies, Ekonomia i Prawo. Economics and Law, 18(2), 147-164, doi: 10.12775/EiP.2019.012.
- 3. Carbó, S., Gardner, E., Molyneux, P. (2005). Financial Exclusion. New York: PALGRAVE MACMILLAN.
- 4. Child and Youth Finance International (CYFI) and MasterCard Incorporated International (2014). Banking a new generation. Developing responsible retail banking products for children and youth. Retrieved from http://www.childfinanceinternational.org/movement/ publications, 12.02.2018.
- 5. Demirguc-Kunt, A., and Klapper, L. (2012), Measuring Financial Inclusion. The Global Findex Database. The World Bank, Policy Research Working Paper 6025. Retrieved from http://responsiblefinance.worldbank.org/~/media/giawb/fl/documents/misc/finlitedu-org-rtf/overall-tf/klapper-measuring-financial-inclusion-the-global-findex.pdf, 15.03.2019.
- 6. Friedline, T., Despard, M., and Chowa, G. (2016). Preventive Policy Strategy for Banking the Unbanked: Savings Accounts for Teenagers? Journal of Poverty, 20, 1, 2-33, doi: 10.1080/10875549.2015.1015068.
- 7. Friedline, T., Elliot. W., and Chowa, G. (2013). Testing an asset-building approach for young people: Early access to savings predicts later savings. Economics of Education Review, 33, 31-51, doi: 10.1016/j.econedurev.2012.10.004.
- 8. Lusardi, A., Mitchell, O., and Curto, V. (2010). Financial Literacy among the Young. The Journal of Consumer Affairs, 44(2), 358-380, doi: 10.1111/j.1745-6606.2010.01173.x.
- 9. Mori, M. (2019). Banking Underserved Market Segments. Open Journal of Social Sciences, 7, 506-517. doi: 10.4236/jss.2019.73042.
- 10. Polasik, M., and Piotrowska A. (2014). Transakcyjne wykluczenie finansowe w Polsce w świetle badań empirycznych. Prace Naukowe Uniwersytetu Ekonomicznego we Wrocławiu, 330, 316-325, doi: 10.15611/pn.2014.330.34.
- 11. Smoczyńska, A. (ed.) (2014). The system of education in Poland. Warsaw: Foundation for the Development of the Education System. Retrieved from http://www.fss.org.pl/sites/ fss.org.pl/files/the-system_2014_www_0.pdf, 15.03.2019.
Typ dokumentu
Bibliografia
Identyfikator YADDA
bwmeta1.element.baztech-446936a3-a525-41ac-9ddd-5ae228ad248f