19 October 2023#Sustainability
Financial Education: Banca Generali accelerates with Marco Montemagno
October is Financial Education Month, and the data make Italy stand out as a country that is trying to catch up on the backlogs
According to the Organization for Economic Cooperation and Development (OECD), despite the growing importance of financial awareness in daily life, Italy is significantly below the OECD average in terms of financial skills. This gap represents a potential risk to the financial stability of Italian individuals and households, underscoring the urgent need for targeted interventions.
This is confirmed by 2023 data from the EduFin study commissioned by the Ministry of Education. Financial, insurance and pension knowledge continues to be low in the population where less than half of the economic decision makers in Italian households know the basic concepts, and even more so among vulnerable groups, such as young people, women, and low income and educated households.
Thus, among the biggest obstacles that emerge for those who want to approach the world of finance remains the lack of content and the complexity of the content currently available. Often, especially in relation to the younger target audience (18-24 years old), what matters is the platform.
Banca Generali's commitment
In response to this need, Banca Generali has launched Edufin 3.0, a project that aims to fill this gap also highlighted by the Bankitalia study, which shows that only 44.3 percent of Italians have sufficient skills in financial.
Edufin 3.0, in fact, not only aims to educate but also aspires to reach a wider audience, from the younger generation to older age targets, ensuring that everyone has the opportunity to learn more in the financial sphere through a powerful tool: that of social media.
Curated by Marco Montemagno, the format features informal chats with experts from various fields on financial education topics who in a simple and direct way try to explain complex concepts through channels such as Instagram, TikTok and beyond, with the goal to reach a younger audience.
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