Education and Training for Financial Literacy: The Role of Banks – Case Study Slovenia

Sergeja Kocar, Nada Trunk and Ales Trunk
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Sergeja Kocar: Nova ljubljanska banka, Slovenia
Nada Trunk: International School for Social and Business Studies, Slovenia
Ales Trunk: International School for Social and Business Studies, Slovenia

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Abstract: Today European banking is in a great financial as well as a moral and ethical crisis. In addition to fulfilling its basic mission, the guiding principles of the banking sector are optimization of processes, reducing costs and investing in the development and education of employees as well as spreading literacy among users of banking services. In this study we examine the strategies and best practices of European countries in the field of education and training for financial literacy, emphasizing the development of this field in Slovenia. Within the existing content we studied general financial literacy of Slovenians; we investigated what is their perception of activities of Slovenian banking institutions in order to increase financial literacy clients and what is their financial knowledge. Based on customer survey, we determined, what is the role of banking institutions as educators of users of banking services. The research confirmed that the activities carried out by banking institutions in order to improve the financial situation of their customers are effectively raising financial literacy.

Keywords: financial literacy; financial education; learning; training; EU; banking institutions (search for similar items in EconPapers)
Date: 2016
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Persistent link: https://EconPapers.repec.org/RePEc:tkp:mklp16:999

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