Foreword 3

Executive summary 7

1 Introduction 9

  1.1. An evidence-based process to develop the proposed strategy 10

  1.2. A proposed strategy informed by national, European and global approaches 11

  1.3. The need for a strategic approach to digital financial literacy 11

  References 13

2 Rationale for the proposed Digital Financial Literacy Strategy 17

  2.1. Finland and digital finance: The state of play 18

  2.2. The state of digital financial literacy: How prepared are adults in Finland for a digital financial world? 21

  2.3. How exposed to risks are adults in Finland in their use of digital financial products and services? 23

  References 26

3 Proposal for a Digital Financial Literacy Strategy 27

  3.1. Vision 28

  3.2. Main objectives 28

  3.3. Target groups 33

  3.4. Timeline for implementation and alignment with the national strategy for financial literacy 34

  3.5. Governance mechanisms 34

  3.6. Monitoring and evaluation of the proposed strategy 34

  References 36

4 Action Plan to implement the proposed strategy 39

  4.1. Suggested actions to implement the proposed strategy’s objectives 40

  References 53

  Notes 53

Annex A. Diagnostic report 55

  References 108

Annex B. Socio-demographic variables used for the survey 111

Annex C. Representativeness of the sample 113

  Notes 114

Annex D. Questionnaire 115

Annex E. Methodology used for creating the scores 127