Addressing Financial and Digital Literacy Challenges for Inclusive Finance

This paper investigates strategies of European microfinance institutions (MFIs) and inclusive fintech organizations to address financial and digital illiteracy among vulnerable customers. It reveals that both MFIs and fintech organizations focus on personalized financial education, training and coaching but adopt distinct strategies in their approach.

The study highlights the crucial role of support teams in enhancing literacy and recommends a balance between digitalization and human interaction, alongside advocating for governmental and EU educational initiatives.