EBA identifies trends and lessons learned in financial education and literacy initiatives in its second Financial Education Report

  • Press Release
  • 30 March 2020

•    The Report identifies lessons learned from more than 120 national financial education and literacy initiatives across the EU as well as key trends and developments that could shape future initiatives.
•    The Report includes a focus on FinTech-related education initiatives 

The European Banking Authority (EBA) published today its second edition of the Financial Education Report (FER). The Report is based on the EBA financial education repository, which consists of more than 120 financial education initiatives taken by the national authorities. The FER describes the most common approaches used by the national authorities and the lessons learned and experiences gained in the area of financial education and financial literacy. It identifies, for example, that awareness-raising campaigns remain among the key tools used by national authorities to reach wide audiences and, in certain cases, to alert consumers to potential risks they may face regarding the use of financial products and services (e.g. crypto-assets). 

Compared to the 2018 edition, this Report includes new aspects such as on the interplay between financial education and financial conduct regulation and supervision of the financial system. In addition, it highlights the increasing role of financial innovation and the growing focus on specific target groups for financial education and literacy initiatives, such as children, youth and elderly. It also identifies a number of developments that could influence future financial education initiatives, including behavioural economics, sustainable finance, and advanced analytics and big data.

The Report provides an opportunity for national authorities to share and compare experiences, and for other organisations and individuals interested in financial education to learn about, and possibly build on, the work carried out so far in this area.

Legal basis

The EBA has developed its Financial Education Reports in line with Article 9(1)(b) of the EBA's Founding Regulation, which requires the Authority “to take a leading role in promoting transparency, simplicity and fairness in the market for consumer financial products or services across the internal market, including by reviewing and coordinating financial literacy and education initiatives by the competent authorities”.


Financial Education Report 2019/20

(5.15 MB - PDF) Last update 22 October 2020

Factsheet – Coordinating financial education and literacy

(521.68 KB - PDF) Last update 13 November 2020

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