THE CHALLENGES TO FINANCIAL LITERACY IN THE DIGITALIZED MARKETS OF FINANCIAL PRODUCTS AND SERVICES

Ivanka Daneva

Abstract


The report outlines the substantive parameters of the concepts of financial education and financial literacy. The most important factors affecting the growing importance of financial literacy in the field of financial products and services are indicated, including innovation due to the application of digital technologies and new business models. The interrelationship between financial literacy and financial markets digitalization is outlined. After indicating the main digital technologies and the areas of their application, the steps to increase financial literacy in connection with digitalization, the most changing areas of the markets of financial products and services, and also some problematic aspects are marked out.


Keywords


financial products and services, digital technologies, financial education, financial literacy JEL classification: E44, G23, K20

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References


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