#PRAwards 2021 highlight: RHB SG banks on internal comms to

#PRAwards 2021 highlight: RHB SG banks on internal comms to drive financial literacy


Details
26 April 2021
Financial literacy is crucial and it is even more important to start consumers young and equip them with the right skills to make sound financial decisions for their future. Recognising the need to do so, especially for low-income families, RHB Singapore created the RHB Financial Literacy Programme which impressed the judges and bagged gold for Best PR by an In-House Communications Team at
MARKETING-INTERACTIVE's PR Awards 2021. Here's a look at how the team worked its way to success.
Challenge
Financial decisions can oftentimes be made inappropriately as a result of social pressures. It could also go undetected until social assistance is sought. One of the fundamental underlying factors that could lead to poverty is poor financial literacy that traps individuals into making poor financial decisions. The implications of poverty are long-term and may not manifest until adulthood. Compounded by the fact that most Singaporean children and youths do not typically receive formal financial literacy education to put it to good practice, RHB Singapore saw it as a challenge for the bank to extend its institutional expertise and knowledge to the community to improve their understanding, equip them with the right skills and change their mindset when it comes to making sound financial decisions at any point in time throughout their lives, despite the onset of other complexities.

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