Education is a lifelong journey. We must seize every opportunity to enhance our knowledge and thus prepare for an ever-uncertain future. <\/p>\n
We all aspire to greater financial security and the realization of our plans. This week, with the observance of Financial Education Day, presents an opportune moment to highlight and reinforce financial literacy within today’s dynamic and digital society. <\/p>\n
Under the slogan ‘Education for Safer Finances,’ this year the authorities promoting the Financial Education Plan (National Securities Market Commission, Bank of Spain, and Ministry of Economic Affairs and Digital Transformation) are highlighting both the opportunities and risks of digitalization in personal finance management.<\/p>\n
Raising awareness is one of the objectives of Financial Education Day. This now takes on special significance as we need to make informed, considered, and secure financial decisions. <\/p>\n
In the banking sector, we are convinced that financial education and digital literacy are two powerful tools for improving our quality of life. Financial training perfectly complements digitalization, as it fosters a thoughtful decision-making process, a very different attitude from the impulsive tendency that the internet can sometimes induce. Furthermore, for the IMF, digitalization promotes social inclusion and drives economic development. <\/p>\n
Training in digital and financial competencies protects users, equipping them with the tools to manage daily tasks securely. It also safeguards us against criminals who threaten us in the digital world. <\/p>\n
Digitalization, as a result of innovation, changes the way we act and even think, opening up a range of opportunities. It entails a process of constant transformation for everyone: individuals, businesses, and administrations. <\/p>\n
This is a process in which we must be united as a society. Banks understand this, and therefore proactively offer training programs in various formats to all citizens. We need to strengthen society’s financial knowledge, and digitalization can help us achieve this. <\/p>\n
In collaboration with public institutions and private entities, these programs focus on both financial education and digital skills training. Young people, rural inhabitants, and the elderly are prominent among their target audiences. <\/p>\n
In this regard, the Aula Financiera y Digital platform, promoted by banking associations and recognized this year with the ‘Finanzas para Todos’ award for the best educational trajectory in finance, deserves mention. It compiles all initiatives driven by the sector in an accessible manner.<\/p>\n
This common space integrates financial education activities by traditional themes, such as financial management or payment methods, while also including cross-cutting dimensions like digitalization competencies, sustainable finance, and cybersecurity. <\/p>\n
This approach aligns with the ‘Financial Competence Framework for Adults,’ published earlier this year by the European Commission and the OECD, which provides a useful conceptual basis for designing and evaluating financial education programs.<\/p>\n
Along these lines, the Financial Education Plan for 2022-2025 also envisages actions to inform and educate new users of digital financial services, ensuring they possess sufficient financial literacy and minimal digital skills to conduct their banking transactions or financial operations without incurring fraud risks.<\/p>\n
We are convinced that promoting financial education and digital financial competencies is the best lever to reinforce customer confidence and security, and also to ensure that they are capable of selecting and utilizing the various digital tools at their disposal, maximizing the potential these offer.<\/p>\n
This is the only way to ensure that citizens benefit from broader access and a wider range of innovative products and services across the market easily, yet securely, becoming aware of and protecting themselves from the risks generated in this environment.<\/p>\n
We have no doubt that financial education will always be a valuable companion, both for providing peace of mind in managing assets and for being prepared in case unforeseen events arise, preventing them from causing irreparable harm.<\/p>\n
In the banking sector, we are convinced that the most valuable asset of our time is knowledge. Generating it collectively and sharing it with everyone is the best way for it to grow. <\/p>\n