Smile :)

It was removed 6 months later for lack of customer approval. John Shepher-Barron, a Scottish inventor, reportedly was in the bathtub when he had his “eureka!” moment, coming up with the idea of a vending machine that dispenses money, not chocolate bars.  He pitched the idea to the British bank Barclays and they adopted it by 1967.  The machine used PIN codes but not magnetic stripes – it relied on a radioactive isotope carbon to initiate a withdrawal!

Source: http://activerain.com/blogsview/4428147/43-fun-facts-about-atm-machines-

 

ATMs have different names in different countries. In Australia and Canada they’re called “bank machines” or “money machines”, in New Zealand they’re called “Cash Points”, “Hole-in-the-walls” in the United Kingdom, and “Bancomats” in Europe.

Source: http://activerain.com/blogsview/4428147/43-fun-facts-about-atm-machines-

 

 

The banking conglomerate Wells Fargo installed two automatic teller machines at McMurdo Station, the largest science hub in Antarctica

Source: www.mentalfloss.com/article/63741/worlds-loneliest-atm-antarctica

 

 

 

 

Former Fed Chairman Alan Greenspan has a poorly veiled tic in his right eyebrow. Investors measured how high he raised it while talking, saying it was a better indicator of whether interest rates were going up.

Source: www.bankrate.com/finance/federal-reserve/fun-federal-reserve-facts-4.aspx

 

 

 

The Knights Templar in the XII century began generating letters of credit for pilgrims journeying to the Holy Land: pilgrims deposited their valuables with a local Templar preceptory before embarking, received a document indicating the value of their deposit, then used that document upon arrival in the Holy Land to retrieve their funds. This innovative arrangement was an early form of travellers cheques.

Source: http://www.crystalinks.com/templars1.html

 

 

A scientific study conducted in 2009 concluded that somewhere between 90-94% of all U.S. bills in circulation carry traces of cocaine on them. This is largely due to the practices of drug traffickers who move large amounts of cash with the drug all over their hands, and the fact that the bills are often rolled up into straws and used to snort the drug.

Source: www.supermoney.com/2014/08/20-absurd-facts-about-money

Leveraging SME Capabilities to Serve Women – Turkish bank case study

With the help of Global Banking Alliance for Women experts, the bank has prepared holistic customer value proposition (CVP) for women, which was launched as TEB Women Banking Program. It is based on four pillars, which meet financial and non-financial business needs of women owners: access to finance, access to information, access to markets, access to mentorship and couching. 

In order to increase the access to finance, TEB in cooperation with European Bank for Reconstruction and Development, launched a loan for start-ups owned by women, which does not require any collateral. Moreover, because gold is a very popular investment among Turkish women, TEB accepts it as collateral in other forms of credit.

In order to satisfy the non-financial needs of women-owned SME’s, many additional services have been launched, i.e. TEB Women Academy, where women can improve their management skills, SME TV Women and free one-on-one business advisory. Providing their women-oriented services, TEB cooperates also with other institutions from Turkish business ecosystem (i.e. the Cherie Blair Foundation for Women, WEConnect International, ActionCoach). 

In 2016, the program was prized with BAI Global Banking Innovation Award in “Innovation in Societal and Community Impact” category.

Summary by Beata Lewicka

 

Sources:

http://www.gbaforwomen.org/download/gba-case-study-teb/

https://www.teb.com.tr/upload/PDF/press_releases/2016%202Q-BasinBulteni%20ENG%20040816.pdf

https://www.bai.org/globalinnovations/awards/2016-winners

 

Student Banking in Russia

At first glance, it is just a debit card, which can be used to make cashless payments. But it has many additional non-financial functions such as: a student identity card, an access key to digital resources of university or entry-pass to university buildings. Moreover, via information stands that are situated in the campus, students can easily order books from the library, check timetables and request documents from the dean’s office. The campus card can also serve as a ticket in Moscow’s public transport system, a mandatory medical insurance policy, and a discount card in shops and service points which take part in the partnership programme.

Similar programs were launched by B&N Bank, Credit Ural Bank and Gazprom Bank. The latter, offers campus cards in the form of ISIC (International Student Identity Card), which gives its owners additional benefits, such as: free admissions to museums, theatres, cultural centres, discounts on flight tickets, hotels, restaurants etc. 

Summary by Beata Lewicka

 

Sources:

Link 1

Link 2

Link 3

Link 4

Link 5

 

A Project with ZUS – Social insurance important in everybody’s life

The objective of “A Project with ZUS” for lower-secondary schools is to develop awareness in young people regarding social insurance and the significance of being covered with such insurance, which will prove useful to them in the future. During the project implementation, they will learn about the basics of the current social insurance system, the responsibilities of its participants and the benefits available to insured parties.

An educationalist participated in the preparation of didactic materials for “A Project with ZUS”. The materials were tested initially in small groups of students. The project pilot took place in the 2015/2016 school year in 11 lower-secondary schools in Olsztyn, Warsaw and locations near Warsaw. 16 teachers and 272 students took part in it. The feedback from students and teachers helped polish the educational materials. At present “A Project with ZUS” is conducted all over Poland – in schools which volunteered for the scheme. 

“A Project with ZUS” is a single lesson carried out with multimedia presentations and a film. The following educational materials were developed for its purposes:

  • an introductory lesson plan (project's objectives and scope of subject matter),
  • a presentation for the lesson with a survey-film lasting several minutes: What does Polish society know about social insurance?

plus content-related supervision and training for teachers – project heads. 

The lessons emphasise the principle of social solidarity, need for individual assurance of one's retirement in the future and possibility to use social insurance during the period of social activity. The project's goal is to raise the social-insurance awareness in the young generation of Poles on a systematic basis.

“A Project with ZUS” is planned as a yearlong project conducted in all the lower-secondary schools which have volunteered. The communication with schools is the responsibility of branch heads of the Social Insurance Institution as well as those in charge of social communications and education in ZUS branches. Education and communication positions have didactic materials and provide content-related advice for teachers concerned. Should a school report such a need, each ZUS branch is obliged to train the teachers who will conduct the classes for students and to present and carry out instruction lessons.

The handbooks intended for the students of lower-secondary school miss information concerning social insurance. 

They include issues relating to the human being in the society, nation and state, civil activity, the system of the Republic of Poland and local governments but no knowledge essential for people entering the labour market who are to secure the future for themselves and their families in case of illness, incapacity for work or death. 

As ZUS performs the general social security scheme tasks in Poland, it decided to engage lower-secondary schools (teachers and students) in insurance issues. Social insurance applies to the vast majority of Poles. As shown by studies commissioned by ZUS and conducted in 2016, barely 7% of Poles have sufficient knowledge while 60% of people are ill-acquainted or totally ignorant. 33% of people have medium-level knowledge (40-60% of correct answers). 

Following “Classes with ZUS” (for upper-secondary schools), “A Project with ZUS” is another project addressed to secondary-school students. The Social Insurance Institution has also developed lectures for university/academy students and introduces them gradually as an educational offer in Polish universities and academies.


What is ZUS?

The Social Insurance Institution (Pol.: Zakład Ubezpieczeń Społecznych – ZUS) is a state-owned organisational entity with legal personality, which handles the collection of citizens' social and health insurance premiums and the distribution of benefits (e.g. retirement pensions and disability, sickness or maternity benefits) according to the amounts and rules set out in generally applicable laws.

ZUS has gathered experiences in insurance operations for over 80 years. It was established on 24 October 1934 with a decision of President Ignacy Mościcki to integrate the five state insurance chambers which had operated till then. Since its establishment it has counted among the most modern and best organised institutions of this type all over the world.

At present, ZUS provides services for approximately 24 million customers, which places it among top financial institutions in Poland. ZUS is the administrator for the means of the Social Security Fund which account for nearly 50% of the state's monetary resources. However, the Institution does not pursue its own financial policy and cannot decide on its own about rates or benefits – the relevant policy is shaped by the Parliament through statutory arrangements. 

Source: www.zus.pl

Link: http://www.zus.pl/default.asp?p=2&id=2


Source: Social Insurance Institution (Pol.: Zakład Ubezpieczeń Społecznych, ZUS)

 

 

The polish financial sector together for the development of professional competence and the improvement of service quality

It was initiated by the partnership of the Warsaw Banking Institute with the Polish Bank Association, among others. The Council represents a total of 25 entities, including commercial and cooperative banks, industry organisations, higher education establishments and training companies.

– For the financial sector, the Council's establishment and activity will allow the entire sector to adapt to and integrate further with the changing landscape of financial services and needs of banks' customers. Financial institutions will thus be able to prepare more effectively for new market trends and regulations and banks will improve the quality of their services and customer assistance on an ongoing basis, said the President of the Polish Bank Association and Chairperson of the Council, Krzysztof Pietraszkiewicz.

As a sector representation, the Council wants to engage in the comprehensible qualification scheme being created in the European Union, which aids in implementing the lifelong learning idea, among other things. As indicated by the Council initiators, the process participation rate among adults in Poland is disturbingly low. At present, the rate is at 10.7% on average in EU countries while it was barely 3.5% in Poland last year (figures by Eurostat).


Michał Polak

 

Source:

https://zbp.pl/eng/news

The polish financial sector together for the development of professional competence and the improvement of service quality

It was initiated by the partnership of the Warsaw Banking Institute with the Polish Bank Association, among others. The Council represents a total of 25 entities, including commercial and cooperative banks, industry organisations, higher education establishments and training companies.

– For the financial sector, the Council's establishment and activity will allow the entire sector to adapt to and integrate further with the changing landscape of financial services and needs of banks' customers. Financial institutions will thus be able to prepare more effectively for new market trends and regulations and banks will improve the quality of their services and customer assistance on an ongoing basis, said the President of the Polish Bank Association and Chairperson of the Council, Krzysztof Pietraszkiewicz.

As a sector representation, the Council wants to engage in the comprehensible qualification scheme being created in the European Union, which aids in implementing the lifelong learning idea, among other things. As indicated by the Council initiators, the process participation rate among adults in Poland is disturbingly low. At present, the rate is at 10.7% on average in EU countries while it was barely 3.5% in Poland last year (figures by Eurostat).


Michał Polak

 

Source:

https://zbp.pl/eng/news

Get Wise! – developing financial literacy among young Kiwi

ASB GetWise provides workshops at three primary school levels and at intermediate level. With the help of a qualified facilitator, kids, through games, stories and fun activities, obtain knowledge about money value, credit and debit cards, how money is earned, how to manage a household budget or even how to run their own business.  In order to make it more entertaining, in the early age groups, the facilitator plays a role of the Superhero ‘Captain Cashtastic’ and trains students to become „Cashtastic Superheroes”.  In older groups, students interactively earn interest, help their classmates reach their savings goals and take part in „cash-clever” quest.

ASB GetWise has facilitators based in bigger cities, but they are also ready to visit other school communities across New Zealand.

ASB has also introduced interesting educational toy „Clever Cash”, which is a form of a cashless „piggy bank”.  Parents use ASB Mobile app to send virtual notes and coins to Clever Kash, and it will display the child's updated ASB account balance. Thanks to that, kids learn how virtual money works and are more motivated to save their pocket money.

Summary by Beata Lewicka


Sources:
https://www.nzba.org.nz/banking-information/financial-literacy/
http://www.getwise.co.nz
https://www.asb.co.nz/banking-with-asb/clever-kash.html