Financial literacy in the digital age—A research agenda

Tiina Koskelainen, Panu Kalmi, Eusebio Scornavacca, Tero Vartiainen

Research output: Contribution to journalArticlepeer-review


Digital innovations are transforming financial services and resulting changes in consumer behavior and personal money management. Diffusion of pervasive digital technologies offers individuals quick and easy access to various digital services bringing opportunities and challenges into their personal money management. The study aimed to explore how digitalization affects individuals' financial literacy and financial capability. As a result, we identified three main themes in the intersection of finance and digitalization: Fintech, Financial behavior in digital environments, and Behavioral interventions. We propose directions for measuring digital financial literacy, updates to the financial literacy curriculum, and developments of digital learning tools. Further, we highlight collaboration between the public and private sectors to create a fairer and more inclusive economic landscape. Our study contributes to existing research by proposing a framework for digital financial literacy and financial capability and a research agenda for future studies.

Original languageEnglish (US)
JournalJournal of Consumer Affairs
StateAccepted/In press - 2023


  • digital
  • digital financial services
  • financial capability
  • financial literacy
  • personal money management

ASJC Scopus subject areas

  • Sociology and Political Science
  • Economics, Econometrics and Finance(all)


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