A growing body of evidence suggests that financial literacy plays an important role in financial well-being, and that differences in financial knowledge acquired early in life can explain a significant part of financial and more general well-being in adult life. Financial technology (FinTech) is revolutionizing the financial services industry at an unrivalled pace. Views differ regarding the impact that FinTech is likely to have on personal financial planning, well-being and societal welfare. In an era of mounting student debt, increased (digital) financial inclusion and threats arising from instances of (online) financial fraud, financial education and enlightened financial advising are appropriate policy interventions that enhance financial and overall well-being.
Financial Literacy and Responsible Finance in the FinTech Era: Capabilities and Challenges engages in this important academic and policy agenda by presenting a set of seven chapters emanating from four parallel streams of literature related to financial literacy and responsible finance.
The chapters in this book were originally published as a special issue of The European Journal of Finance.
Introduction: Financial literacy and responsible finance in the FinTech era: capabilities and challenges
Georgios A. Panos and John O. S. Wilson
1. The effectiveness of smartphone apps in improving financial capability
Declan French, Donal McKillop and Elaine Stewart
2. Cross-country variation in financial inclusion: a global perspective
Mais Sha'ban, Claudia Girardone and Anna Sarkisyan
3. Measuring financial well-being over the lifecourse
J. Michael Collins and Carly Urban
4. Financial literacy and financial well-being among generation-Z university students: Evidence from Greece
Nikolaos D. Philippas and Christos Avdoulas
5. Financial literacy and student debt
Nikolaos Artavanis and Soumya Karra
6. Keep your customer knowledgeable: financial advisors as educators
7. Financial literacy and fraud detection
Christian Engels, Kamlesh Kumar and Dennis Philip