ABN AMRO helps clients improve their financial health
- Sustainable banking newsletter
For many years, ABN AMRO has been helping clients get better control of their finances, often with positive results. The bank remains committed to raising awareness of financial health among this group.
The annual financial health of Dutch households conducted by Deloitte together with the National Institute for Family Finance Information (Nibud) and Leiden University has revealed that around 47% of all Dutch households are financially vulnerable. That means they could face difficulties if financial setbacks occur.
“ABN AMRO has a range of tools to offer clients timely support and help them avoid financial problems,” says Laura Wetser, Head of Financial Health at ABN AMRO. “We do this by raising awareness among our clients and helping them better understand their personal finances.”
Improving finances
Laura continues, “Our and the give clients smart tools to get a clear overview of their finances, insights into their financial behaviour and practical tips for improvement.”
“We also provide personal support to clients who ,” says Robin Knipping, Financial Health Domain Expert at ABN AMRO. “Our Financial Health Coaches help clients take control of their finances. If needed, they can refer them to support organisations such as or their local municipality. The coaches are trained to understand the personal circumstances and issues that can lead to money problems. Together they identify the right solutions for the client’s situation. That gives them both peace of mind and perspective.”
ABN AMRO also works with social partners like the Foundation for a Financially Fit Netherlands (Stichting Financieel Gezond Nederland), the Dutch Debt Assistance Route (Nederlandse Schuldhulproute), Geldfit, Nibud and the Dutch Banking Association (NVB) to promote awareness and education.
A greater focus on young people
Young people are a key area of focus, says Laura: “Deloitte’s data show that no less than 69% of people aged 18 to 24 are financially vulnerable. And our own client research confirms this. So we’re helping young people become financially fit by hosting education programmes and workshops at vocational schools and universities.”
Robin adds, “We’ve also just launched a new for students and young adults. It features short, relatable videos, practical tips and online workshops to help them get to grips with the financial issues that affect them the most – like managing student debt, budgeting or even moving in together.”
In September, ABN AMRO introduced a new bank called , designed especially for teenagers and their parents. BUUT helps youngsters save, make payments and budget using digital money boxes. It also offers short videos, animations and other educational tools to build financial awareness.
Tracking results
The bank closely tracks how these initiatives contribute to its clients’ financial health. Laura says, “For 90% of clients aged 18 to 35 with whom we have personal contact, we see an improvement in their financial situation within five months. That’s a strong incentive for us to keep developing and improving client support. We remain firmly committed to strengthening our clients’ financial health.”