The Wisdom Council’s Post

Some fantastic speakers and thought-provoking panel discussions at todays TISA Annual Conference. Financial inclusion is a big issue that needs to be addressed with over 14m people in the UK having less than £100 in savings and 38% of working people under saving for retirement; and the general consensus is that things are getting worse rather than better. There are many challenges and barriers to overcome but some of the key takeaways are: 1. Need to focus on channels to provision access to help and products – go to where the people are rather than expecting them to come to you; and focus more effort into engagement during the ‘intent’ part of the customer journey rather than just in the ‘action’ part. 2. Ensure products are designed with maximum flexibility to make them more appealing in the face of consumer challenges such as income volatility e.g. variable monthly payments. 3. You can get good engagement if you dress it up right. Financial Services need to take lessons from other sectors and be ‘louder’ about their products and services. Social media, AI and gamification may all have a part to play here. 4. “We’re too risk averse as an industry for the speed the world is moving at” (Samantha Seaton, CEO Moneyhub). Perhaps we need the FCA and FOS to adapt the mindset of needing a perfect outcome 100% of the time for a small population of investors, to less perfection but serving a wider market. #TISACONF2024 #FinancialInclusion #FinancialResilience #SimplifyConsulting

Any connections interested in innovation in #financialservices should definitely get engaged with the Future Finance programme. Researchers, big FS, SME finance, #fintechs and community organisations working together to shape the indusry towards a more open, accessible future.

Part 1: Understanding Money, Income, and Wealth Money isn’t the goal—it’s the tool that helps build your dreams. Think of it like a hammer: it’s not the masterpiece but the means to create one. Use money to fuel goals like owning a home, pursuing education, or experiencing life’s milestones. Next comes income. Many think income is what you spend, but I advocate the “savings-first equation”—Income - Savings = Expenses. Saving before spending ensures you’re building your future first, even if it’s just a small amount. True wealth goes beyond bank accounts. It’s about security, freedom, and the impact you can make. Wealth is what you can sustain, share, and enjoy without fear. 📩 Bring financial wisdom to your workplace! Contact me at armandbengco@gmail.com. Let’s transform how your team manages money. This three-part article stems from my recent engagement with Bingo Plus Foundation, where I had the privilege to share practical financial literacy insights during their CSR initiative. Inspired by the session, I’m presenting these essential lessons to help individuals and organizations make smarter money decisions, manage windfalls wisely, and build a secure financial future. Let’s dive into the PERAKTIKAL approach and how it can empower your team or company! Who is Armand Bengco? I’m a financial literacy advocate with decades of experience hosting TV and radio programs, conducting engaging seminars, and guiding businesses in capital advisory and investment strategies. My PERAKTIKAL approach blends practicality, minimalism, and the mindset of “worth it” to transform how individuals and teams manage money. Let’s work together to empower your organization! #FinancialLiteracy #PERAKTIKAL #SmartMoney #InvestmentAdvisory #WorkplaceWellness #StealthWealth #MinimalismFinance #ArmandBengco #CorporateSeminars #WealthBuilding #bingoplusfoundation #personalfinance #pisobilities

Happy #GlobalMoneyWeek2024! This week marks the celebration of the world's largest money awareness campaign, shining a spotlight on the vital skills of managing finances from a young age. Why Celebrate Global Money Week? Global Money Week (GMW) is more than just a campaign; it's a mission to empower our future generations. The journey towards financial literacy is crucial, enabling our young ones to make informed decisions, foster financial well-being, and build resilience against economic challenges. The Goal of GMW👇 To ensure every child and youth, regardless of their background, gain access to high-quality financial education. By learning about money matters early on, they can navigate the complexities of the financial world with confidence and ease, paving the way for a future where financial resilience and well-being are within everyone's reach. As we celebrate #GlobalMoneyWeek2024, let's embrace the spirit of learning and empowerment. But let's make this conversation two-way: What's one financial lesson you wish you had learned as a child, and how would it change your life today? #impact #socialimpact #makeadifference #education #financialeducation #financialliteracy #financialinclusion #youthempowerment Global Money Week

Our Founder and CEO, Crissi Cole, recently spoke with Forbes about what credit union CEOs might find surprising about the digital generation. Curious about what she had to say? Read on below for the inside scoop 👉 #PennyFinance #StartWithAPenny #DigitalGeneration #CreditUnionMovement

🙋🏻♀️Women have a leading role in reshaping the future of finance. From adopting new payment technologies to driving industry transformation, their groundbreaking approaches have proven significant. 🌟🚀 In Marqeta's latest blog, we spotlight Anne Boden, Leda Glyptis, and Sophie Guibaud as game-changers in our industry. Want to learn more about their contribution and insights? I consider myself extremely lucky to know Leda and Sophie and they are both huge inspirations to me! Anne gave me Starling bank socks once and I love them! 🧦 Dive in here:

Understanding (empathy, conversations, and data) is an important part of financial institution staffing and account holder outreach. https://buff.ly/3yoPpZh (We have a unique locator system that can help!) #BranchandATMlocators #creditunions #communitybanks #fintech

We’re supporting Talk Money Week, which aims to break down barriers and make it easier for people to share their thoughts and feelings about money. It can be difficult to talk about money. That’s why #TalkMoney Week is a great opportunity to kickstart a conversation with friends, family or colleagues. In fact, building money conversations into our everyday lives can help us build the financial confidence and resilience needed to face whatever the future has in store for us. If you’re not sure where to start, why not #DoOneThing to improve financial wellbeing and use one of the free tools and calculators. https://buff.ly/49pZlzW

Attention credit union leaders! Crissi Cole, CEO and Founder of Penny Finance and participant in #Curql's 2nd Accelerator Cohort, shares surprising insights in her latest Forbes article about the digital generation. Don’t miss these valuable takeaways—read the full article now! #fintech #creditunions #digitalgeneration #curqlaccelerator

I am beyond excited to kick off this 100-day journey where we educate, guide, and motivate one another to build a strong savings and investment culture for a sustainable financial lifestyle! Today, I’m thrilled to announce that over 750 people have already shown interest in participating, using simple, legal means to save—whether it’s with a Savings App, a bank account, a piggybank (kolo) or even an empty container. I understand the economic challenges we face as a country, *but even in tough times, small steps matter.* It’s all about staying consistent, no matter how little you start with. Together, we will grow stronger financial habits that will benefit our future, just like a farmer who plants today in preparation for the rainy days ahead. Let’s stay disciplined, focused, and motivated! Here’s to a brighter Financially Sustainable Lifestyle—one day at a time! #FunmilayoElebe #personalfinance #savingsgroup #100daystochristmassavingschallenge #kobo2naira100daystochristmassavingschallenge #kobo2naira #personalfinance #savingsgroup #financialdiscipline