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

Author

Listed:
  • 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)

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.

Suggested Citation

  • Sergeja Kocar & Nada Trunk & Ales Trunk, 2016. "Education and Training for Financial Literacy: The Role of Banks – Case Study Slovenia," Managing Innovation and Diversity in Knowledge Society Through Turbulent Time: Proceedings of the MakeLearn and TIIM Joint International Conference 2016,, ToKnowPress.
    • Handle: RePEc:tkp:mklp16:999
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