G20/OECD INFE Policy Guidance on Digitalisation and Financial Literacy

The digitalization of financial products and services, and the consequent need to strengthen digital financial literacy has become an important component of the global policy-making agenda. This guidance aims to identify and promote effective initiatives that enhance digital and financial literacy in light of the unique characteristics, advantages, and risks of digital financial services and channels. It also aims to support their evaluation and dissemination, and to promote a responsible and beneficial development of digitalization by building trust and confidence in the acquisition and use of digital financial services by the financially excluded.

This guidance note offers actionable steps in the design and implementation of financial education initiatives on DFS to strengthen the digital financial literacy of consumers and entrepreneurs, in five key areas:

1. Develop a national diagnosis of the impact of digital finance on individuals and entrepreneurs.
2. Ensure coordination between public authorities and private and not-for-profit stakeholders.
3. Support the development of a national core competency framework on digital financial literacy.
4. Support effective delivery of financial education through digital and traditional means.
5. Facilitate and disseminate evaluation of financial education programmes addressing DFS.