In socio-demographic terms, the situation for young people shows personal and professional instability as well as financial dependence, often still significant, on 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 with the activation of 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 2014 the Superflash Loan allowed the granting of almost 303 million euro to more than 27,000 young customers (250 million euro to 24,000 customers in 2013). With regard to mortgages, the amounts granted remained significant, almost 840 million euro to 8,700 young people, though recording a decrease compared to 2013 (1.1 billion euro granted to 10,800 young people).
As regards welfare, the Group considered it important to offer specific 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. In 2014 more than 38,400 subscriptions were recorded.
Bridge Loan, on the other hand, was designed to give university students an opportunity to fund their studies under particularly favourable conditions. It is targeted at students enrolled in one of the partner Universities and its eligibility requirements do not take into account household income, but are solely based on university attendance and merit, without the need for any personal guarantees. In 2014 alone, 289 new loans were granted for a total of 3.1 million euro.
The Slovakian VÚB Banka dedicated a current account (without fees for students) to young people aged 15 to 24, which includes various banking services and a form of insurance free of charge in the event of document, mobile phone and baggage loss or theft. 17,000 accounts were opened in 2014. The Bank also continued to grant loans to young couples with limited income and consumer credit to young people and university students, granting a total of almost 6.5 million euro in 2014.
The Croatian PBZ also provides support to students, granting loans at subsidised terms to young people to cover university fees and board and lodging costs. Again for students, the Bank created a product line 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 2014 more than 7,500 subscriptions were recorded.
“Tu Dopo di noi” is an insurance product designed to protect a disabled beneficiary on the death of the insured. A lifelong product giving priority to the value of capital invested, as a result of prudential separate management, mainly in bonds.
“Tu Dopo di noi” targets those with a disabled family member and wishing to protect their future by guaranteeing protected capital that continues to provide them with real, secure protection.
106 new policies have been underwritten in 2014. Previously our portfolio contained a similar product with the same characteristics, “Alfa Dopo di Noi”, and therefore up to 31 December 2014 a total of 783 contracts had been signed.