According to Verónica López Sabater, the director of the International Financial Analysts Foundation (AFI), quality financial education is a necessary ingredient for the continuous development of digital payment systems and services.
While technology is developing rapidly, and new digital solutions emerge by the minute, most innovative digital payment system requires a certain level of financial education, in order to serve their full potential to users.
Consequently, Ms. Sabater is an advocate for the bettering of financial education globally.
Financial education for the future
According to Ms. Sabater, digital payments are becoming increasingly popular as they offer a number of benefits over cash.
Most notably, the lack of a physical object tied to currency brings efficiency and longevity, as long as cost-reduction. However, in order for digital payments to become as widely accepted as cash payments, financial education globally should improve.
Not only that, but Ms. Sabater also called for the improvement of digital education on a global scale. According to her, the world is going to become increasingly more digital, and for the young generation to be able to keep up with that, courses on digital topics should be introduced in secondary and higher education.
Financial technology
Financial technology, or Fintech, is a popular term these days. While it may sound pretty straight-forward, Fintech actually encompasses a myriad of applications and payment systems. Not only that, but Fintech also includes the underlying technology used for managing the financial operations of enterprises and corporations worldwide.
Considering the importance of Fintech, and its integral position in global business, education in this sphere should catch up.
Thankfully, initiatives like the FinTech School are developing programs and scholarships dedicated to financial education. Not only that but the school is actually looking to promote Fintech education for women and has developed a special scholarship program for female students.
Financial technology is indeed taking over the business world, and the global economy, which is why financial education should develop accordingly as well.
