Raymond Frenken

//Raymond Frenken

Raymond Frenken

Head of Communications and Corporate Social Responsibility


Biography

Raymond’s career sees a constant theme of enlightening readers and viewers on complex financial and economic stories. After starting out as a financial journalist in his native Netherlands, he moved abroad in 1990 to work throughout Europe (Glasgow, London, Paris, Zurich, Amsterdam and Brussels) as correspondent, bureau chief and on-air reporter for leading international business media, including Bloomberg News, Het Financieele Dagblad, FT/MarketWatch and CNBC Europe.

Since 2014 Raymond works from Brussels for a responsible and innovative banking sector as Director of Communications for the European Banking Federation. He is married and father of two millennial daughters.

 

Lecture intro

Banking for Good Through Financial Education

The concept of ‘compounding interest’ is essential to understand for anyone taking on debt or adopting a retirement saving or investment plan. It is particularly relevant for young people trying to find their place in our increasingly digital society. We believe this core life skill is closely connected to one’s quality of life. Financial literacy, or the lack thereof, has a major impact on decisions that people make. It affects key decisions in people’s lives when trying to balance a budget, buying a home, paying for their children’s education, and making sure that there is an income when retirement comes. Statistics and surveys show that many people have very little understanding about finances, how credit works and long-term investments. Finances have a potential impact on people’s overall well-being. Even more so in our digital era, where everything – including money – is available at the touch of a screen. Digital money – banking apps – provide an attractive way of managing your bank accounts, with instant transfers and direct payments and information about accounts that is directly available on the screen of a mobile phone.  Especially young people are vulnerable, which is why financial education is needed in schools. Getting schools and educators to recognize this and to act on this is a long-term challenge.

2018-12-19T09:22:49+00:00