Best Practice Report

Use Digital Technologies To Boost Customers’ Financial Capability

Financial Well-Being: Deliver Experiences That Are More Personal, Engaging, And Effortless

September 9th, 2022
With contributors:
Oliwia Berdak , Alyson Clarke , Carine Lam , Sam Bartlett

Summary

Financial capability — the ability for an individual to manage day-to-day finances, plan for the short and long term, and ultimately make the right financial decisions to achieve his or her financial goals — is a key component of financial well-being. But it’s not easy to develop. This report explains how banking executives can leverage digital technologies to help customers build their financial capability through a focus on financial literacy, personal financial coaching, and relevant educational tools and content.

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