In socio-demographic terms, the situation for young people shows personal and professional instability as well as financial dependence, often still significant, from their families, uncertainty about the future and a rise in the provisional nature of living conditions even after the age of 30. Nevertheless, Intesa Sanpaolo continues to focus on those representing our leverage of the future.
The Superflash product is an “umbrella” brand characterising not only products, services and solutions for young people between the ages of 18 and 35, but also a new communication language at Branches and online, with a dedicated section of the Bank’s website and presence on social networks.
Superflash is made up of a dedicated product line with extremely limited costs, designed to meet the main needs of young people: prepaid cards, current accounts, loans, mortgages and savings. In 2015 the “PerTe Prestito Facile Superflash” loan allowed the granting of over 487 million euro to more than 43 thousand young customers (303 million euro to 27,000 customers in 2014). With regard to mortgages, the amounts granted are significant, with over 1.5 billion euro to over 14 thousand young people, a strong increase compared to 2014 (almost 840 million euro granted to 8,700 young people).
As regards welfare, the Group considered it important to offer subsidised terms to young people. The two solutions launched at the end of 2012 – an open-ended pension fund, “Il Mio Domani”, and an individual welfare plan, “Il Mio Futuro” – offer under-25s a discount on the annual management fee. The total subscriptions in 2015 numbered more than 62,000.
Per Te Prestito con Lode
To give university students an opportunity to fund their studies under particularly favourable conditions Intesa Sanpaolo had been granting its “Prestito Bridge” loan for years, targeting students enrolled at one of the participating universities, and the requirements – taking no account of household income – were based solely on regular university attendance and performance, with no personal guarantees required.
Since the second half of 2015 the “Prestito Bridge” loan has been developed to become the new "Per Te Prestito con Lode”, confirming the continued commitment of the Bank in favour of the training and university career of young people.
"Per Te Prestito con Lode" expands the audience of potential recipients also to students who attend post-graduate (master) courses and is aimed at young people, on track with their exams, not necessarily linked to a university, but for whom the guarantor and certification body may be a Foundation, a guarantee Fund in general or a company within its own welfare program. It offers higher amounts and longer terms of repayment plans, according to the provisions of the individual agreements, providing a flexible and customizable management by each guarantor having an agreement.
399 new loans for over 4.6 million euro were disbursed in 2015.
In 2016, the new Per Te Prestito con Lode will be offered to all Italian universities, the Ministry of Education and the Italian companies, as a corporate welfare program.
In Bosnia and Herzegovina, our Bank offers students dedicated current accounts providing greater availability in terms of overdraft. At the end of the studies, or when the student turns thirty, the current account is automatically converted to a regular account and the availability of the overdraft is cancelled. Almost 4,900 current accounts were opened in 2015.
The Croatian Privredna Banka Zagreb granted loans at subsidised terms to young people, for approximately 834 thousand euro, to cover university fees and board and lodging costs. Again for students, the Bank created a product line (Index plus package) that includes a current account, a credit and debit card, and Internet banking. The package offers limited costs for basic banking services and no-fee current accounts. In 2015 more than 6,500 Index plus packages were opened (for a total of more than 36,000 since the initiative was launched at the end of 2006). In April 2015 the American Express Start Card for students was re-launched as part of the package: it is a credit card with a spending limit and the possibility to repay in instalments at no additional cost. By subscribing the American Express Start Card for students, holders will automatically enter a dedicated savings program. In 2015 the new customers were over 8,500 (over 31,000 since the product was launched).
Even Banca Intesa Beograd offers special debit cards to students, Intesa Visa Electron Easy Travel Card (ETC) and Maestro ISIC, with opening and management of current account at no fee. These cards also include benefits and discounts for students.
In Albania, the Group Bank has a diversified offer for this type of customers:
- My Prepaid Card, a card dedicated mainly to new customers (students and people with limited funding availability) who request financial control and a high level of security. The card is offered with no activation fee for young people aged 18 to 23 years;
- a guaranteed account for young Albanians studying in Germany: thanks to an agreement with the German Embassy, and to facilitate the issuing of visas for these young people, Intesa Sanpaolo Bank Albania acts as a guarantor, certifies the financial resources of the students thanks to the deposited funds and schedules their use with the Embassy;
- "EDU-Kredi", the student loan launched in December 2015, in order to cover the costs to complete the studies;
- “Student Package”, a product line dedicated to students. The offer includes a local currency current account, a prepaid card, mobile banking and SMS alerts, as well as reduced costs for some operations (e.g. utility payments, card top-ups, etc.).