Financial knowledge needs improving
The results of the survey also revealed that Italians seemed to be lacking an acceptable level of general financial knowledge. In fact, 53 percent of the respondents admitted that they were not very well informed when talking about banking and financial products, while only seven percent of the people interviewed said they were very well informed on the topics. Moreover, among those aware of their lack of financial knowledge, 55 percent said that they would like to know more about the topic but wouldn’t be willing to pay to learn more.
Latest financial products are even more obscure
Due to innovation and technological development, new products and players have entered the banking and financial sector. When talking about the latest developments in the sector, Italians seem to be even more unaware. For example, another survey showed that 66 percent of Italians seemed to have never heard of cryptocurrencies. Moreover, 51 percent of the respondents had no idea what crowdfunding was.