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edX

FINANCIAL NUDGES - SMALL CHANGES BIG IMPACT

State Bank of India via edX

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Overview

MIT Sloan: Drive Business Value with AI
6-week cohort with live MIT Faculty sessions. Learn to scale AI beyond the pilot stage.
Build Your AI Strategy

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.

Syllabus

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.

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