Longevity education is necessary for every professional related to banking and finance sector. It is only after getting education that they can help the underserved population.
The digital age has revolutionized every aspect of human life but the biggest change is seen on the financial front. It can be called longevity finance because the digital technology is beneficial for people of all ages. For example, take online banking that allows people to access and operate their bank accounts through their mobiles.
The biggest advantage of the digital technology is that it can serve the underserved populations as well. For example, take mobile money that can be kept safe on mobile and used in a hassle-free manner. Similarly, digital banking allows people to access their banks from the comfort and convenience of their homes. It is called financial inclusion and you need to do a short course to understand its impact on the underserved population.
What is underserved population?
These are the people who are ignorant about the digital technology. Most of them are either retired or are on the verge of retirement but they are leased with long lives. Longevity can be a blessing for them if they know how to use digital technology to gain financial freedom. Or it would be much better to say that digital technology has to be more user-friendly with longevity innovation to be used for the underserved population.
Here are the advantages of the financial course
- Know the fundamentals
The course explains all the fundamentals of financial inclusion in the digital age. You will learn about the evolution of financial inclusion after the advent of digital technology. It is only after understanding the fundamentals that you will be able to understand the bigger picture.
- Impact of mobile money
The longevity course will educate you on mobile money and its impact on the financial lives of people. Digital banking also comes under this topic. Today banks also encourage their customers to download their apps and use mobile banking instead of visiting banks.
- Understand the relation between age and financial inclusion
Aging affects everything including financial decisions. For example, an aged homeowner would never mortgage their home. Since the entire world is staring at an aging population, it becomes necessary to understand the factors that influence their financial decisions.
- Credit risk
Longevity education also focuses on the risks and challenges of financial inclusion in the digital age. And the biggest risk for underserved population lies in credit. It is for policymakers and regulators to make policies to safeguard people from credit risks.
