FINANCIAL NUDGES - SMALL CHANGES BIG IMPACT
State Bank of India
Based on behavioral economics, nudge refers to subtle interventions or design choices that influence people's behavior and decision-making without restricting their freedom of choice. Nudges work by appealing to cognitive biases and psychological tendencies, guiding individuals toward better choices that align with their goals or interests.
About this Course
A "nudge" in financial services is a gentle, non-restrictive intervention designed to influence behavior towards a desired outcome, like saving more or making better investment choices. This is achieved by altering the way choices are presented or the environment in which decisions are made, rather than directly forcing a particular action. The nudge-based approach helps marketers to help customers make smarter financial choices, such as saving more, avoiding impulsive spending, or selecting appropriate financial products. The course explores the impact of nudge-based approach to empower smarter financial choices and foster long-term financial well-being.
What You'll Learn
- 1. Highlight how nudges leverage human psychology to influence financial decisions without restricting freedom of choice.2. Showcase real-world examples of nudges transforming personal and organisational financial outcomes.3. Stress the importance of organizing choices to guide decisions effectively.4. Focus on strategies to promote better financial habits and long-term wealth.5. Address how nudges can be used responsibly and transparently in financial contexts.
Instructors
Dattatri V
Assistant General Manager & Faculty
Jyotsana Sharma
Chief Manager & Faculty
M.Joseph Christy
Faculty