Cultivating high-quality financial literacy for Thais

By: The WFE Focus Team Jan 2018

We are delighted to welcome a contribution from Thailand Securities Institute (TSI), The Stock Exchange of Thailand (SET)about its financial literacy programme, delivered through its innovative investment museum INVESTORY.

Inclusive investor education

Amid the rapidly-changing social and economic environment, SET has continued to emphasise the necessity of financial literacy as part of sustainable economic development. We have therefore been striving to equip Thai people with financial capabilities, enabling them to acquire financial well-being, both now and in the future. Thailand Securities Institute (TSI) was established to promote capital market education in Thailand. Many projects have been continually launched to educate people from all walks of life, ranging from basic saving concepts to sophisticated investment methods.

We believe that, to foster a sustainable investment culture, it is necessary to instill good money habits in children from an early age. Thus, a great effort has been made to promote personal finance in schools and universities; providing over 1 million handbooks for primary and secondary students, setting up Investment Corners at universities nationwide, and organising annual competitions. To raise public awareness of financial planning as an essential tool leading to a desirable retirement, the campaign 'Happy Money, Happy Retirement' was therefore initiated, with Train the Trainers programmes implemented within workplaces to create multipliers for knowledge dissemination. Meanwhile, the 'Investor’s Classroom' Project provides both potential and existing investors with extensive investment knowledge and skills. Classroom-based training courses are arranged on a regular basis in Bangkok and upcountry. Moreover, we recognise the need to diversify learning channels, which enables us to reach millions of people each year. These channels include books, events, roadshows, out-of-home media, as well as website and social media.

Best-in-class financial knowledge hub

With our long-term determination to strengthen Thai people’s financial capabilities, SET established INVESTORY as the first investment discovery museum in Thailand. It is intended to be the best-in-class learning destination for Thai people in terms of financial literacy and investment. The name 'INVESTORY' implies that the museum contributes to a comprehensive story about investment, with its ultimate objective of 'Inspire to Invest'. Created from a mix of new ideas, simplified knowledge and a 'wow' effect, the learning centre offers lively self-learning experiences with intensive knowledge about financial planning, investment and the history of SET as well as the Thai capital market from its birth.

The museum is basically divided into three zones: INVESTORY Plaza which encourages visitors to start thinking about their financial future, INVESTORY Land where visitors gain inclusive understanding of financial planning and investment knowledge, and INVESTORY Hall which displays a temporary exhibition. Visitors will enjoy their journey which includes games, animation, and interactive media in an exciting and inspiring atmosphere. Utilising key characters like SET Heroes and the Money Monsters, the complicated content is simplified and communicated to the visitors in an easy-to-understand and vibrant way. Throughout the museum, the state of the art innovation, including augmented reality and kinetic technologies, is applied to create the most effective learning result. Trading Simulation will immensely enrich visitors’ experience by providing them with a practice and preparation for real-life trading.

During its two years of operation, INVESTORY has proven to be a successful financial knowledge hub, with more than 70,000 visitors. It has welcomed a variety of visitors including students, from primary to university students, various organisations, both domestic and international, and the general public. We have also set up mobile exhibition at schools and universities in Bangkok and nearby provinces, which enables us to reach more than 100,000 students.

Working together to enhance effectiveness

With our investor education, people will gain relevant knowledge from basic to advanced concepts, covering comprehensive financial planning and investment areas. They will benefit from our materials, training courses, seminars and other online resources. These high-quality knowledge and skills can be a solid foundation for their financial literacy. Meanwhile, INVESTORY complements the traditional financial education by offering hands-on experience and a preparation before entering into the real investment world. All visitors are provided with an opportunity to practice in a simulation platform, where they can experience the excitement of the trading floor, and familiarise themselves with the trading environment. Moreover, learning in an inspiring atmosphere at INVESTORY can enhance the motivation of people and encourage them to start investing in the capital market.

To meet the diverse needs of people, we have also designed tailor-made education programmes, online and offline, to suit different groups of people: the youth, the first jobbers, the employees, the potential and existing investors, and the elderly. On top of that, at INVESTORY, the visitors can truly design their own learning journey based on their interests. This will eventually enhance the effectiveness of investor education which will result in an increasing number of quality and sensible investors in the future.