ESTRATEGIAS PARA LA INNOVACIÓN DE LA EDUCACIÓN FINANCIERA EN MÉXICO. EL CASO DEL FINANCIAMIENTO BANCARIO AL CONSUMO

Abstract

The main objective of this paper is to suggest recommendations for the innovation of financial education in Mexico, especially focusing on consumer banking credit (credit card). These recommendations were designed based on the classification of innovation proposed in the Oslo Manual, therefore, the suggestions are aimed at innovation of product, process, marketing and organizational. One of the pillars for the proper functioning of the financial system in Mexico should be financial education, because through its teaching is transmitted to the user the information, knowledge and skills to improve their financial decisions; either to basic, intermediate or advanced level. Financial education is even more necessary in markets such as credit cards, where demand has increased considerably, as well as bad practices in use, causing monetary losses for suppliers, but particularly for users. The default in payment, or late payment of credit card causes unforeseen expenditures, like interests, which also adds to a lot of bank charges. In response, financial education can contribute to a healthier financial performance. However, some financial education programs that are targeted to cardholders in the country, have unfinished areas that obstruct to shape a comprehensive financial guide for the user, and it is precisely in those areas where are required actions for innovation. The following are some examples of suggestion for innovation, resulting from a brief analysis in this study. In the product segment, is proposed to enrich the contents of the initiatives; in the process, promote to carry out more surveys about this topic; in the marketing, launch a national campaign to popularize the financial education and, finally; in organizational, train human resources in charge of educating users. In no way detract efforts have been made for financial education in Mexico, because there are interesting initiatives coupled with an increase in the number of institutions dedicated to this area. But, undoubtedly, as these hits are combined with innovation, the results improve substantially.