Using Banknotes in the Drive to Improve Financial Literacy

Following the partnership announcement between Koenig & Bauer Banknote Solutions (KBBS) and Aflatoun International in the financial literacy space (see page 1), we were curious to learn more about why a traditional machinery supplier is diverging into this new field. We caught up with Roeland Monasch, CEO of Aflatoun, and Mark Stevenson, KBBS Market Development Manager, at Aflatoun’s headquarters in Amsterdam, to find out more.

Eric Boissonnas, Managing Director of KBBS (left) together with Roeland Monasch of Aflatoun (centre) and Mark Stevenson of KBBS (right).

Q: Can you tell us a little more about what ‘Financial Literacy’ actually means and why it is important?

MS: Globally, almost half the world’s population possess limited or no financial literacy skills. Financial literacy levels range from 13-71%, with a loose correlation between higher economic development and higher literacy rates.