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11 Apr 2018 – Articles

Danske Bank fosters financial confidence

Gaining knowledge about money and finances at a young age contributes to sound habits later in life. We want to build financial confidence in children and young people by offering teaching tools, digital solutions and guest lectures in an inspiring way.

With the digitalisation of the financial infrastructure, we are becoming an increasingly cashless society, and this influences how we teach children about money. To facilitate a starting point for conversations about money and enable both parents and children to keep track of pocket money, we have developed a digital solution called Pocket Money.

We want to help children become financially responsible and develop healthy financial habits, hopefully enabling them to make sound financial decisions later in life. We think that our Pocket Money app is a good starting point for important conversations about the value of money and the importance of saving. The app also meets the increasing customer demand for an easier way to handle pocket money.

Jeanette Fangel Løgstrup

Head of Group Marketing and Communications and Senior Executive Vice President.

The Pocket Money solution consists of an app, a pocket money card for children aged 8-14 and a feature in Danske Bank’s new Mobile Banking app for parents. In addition to developing digital solutions, such as Pocket Money, we also make our expertise available through online teaching tools and guest lectures.

Contributing to quality education
In Denmark, we offer schools teaching tools and the opportunity to get a guest lecture from one of our advisers. Through cases, discussions and games, the adviser discusses a range of topics with the older students, such as the financial implications of moving away from home, things they should be aware of when borrowing money and how they protect themselves against cybercrime.

In Northern Ireland, we encourage schools to participate in the educational programme SMART partnership in which our youth ambassadors teach children financial issues ranging from creating your own budget to building your own business.

Facts about our educational programmes

  • During 2017, more than 13,500 children and young people participated in our educational programmes and campaigns across our markets. 
  • This year, more than 7,500 pupils have already been educated in digital security, budgeting and personal finances by one of our employees during the Money Week in Denmark.

Building financial confidence in children and youth is a part of our initiatives to create long-term value for all our stakeholders. Read more about it in our Corporate Responsibility Report 2017. 

Download the report