Contemporary Aspects of Financial – Banking Responsibility

Bratu, Renate

doi:10.18502/kss.v4i1.6007

Cited by 2 publications

(3 citation statements)

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“…This paper identifies the root cause of loan and loan repayment syncope in a low level of financial literacy. The results of this paper resonate with other previous studies that support and reinforce the idea that the level of financial literacy is low due to a low level of financial responsibility [20]. Thus, the research conducted revealed such aspects as lack of general financial and economic knowledge, reluctance to access new banking products (traditional ones occupying the primary place in use), susceptibility in the clientemployee-bank relationship, little confidence in the information communicated by the financial institution, the need to seek financial advice, the need for minimum financial and easy to access training options, etc.…”

Section: Discussionsupporting

confidence: 91%

“…Actions to achieve the sustainable development goals of society can be implemented through the active involvement of financial institutions not only in lending but also in the transmission of knowledge on minimum financial education so that partnership relations with consumers are beneficial to both parties. Therefore, there is the question of the financial responsibility of banking institutions with an imprint on the well-being of the person and the impact on the development of the economy [20]. The study conducted by Renate Doina Bratu helps establish the awareness, manifestation, and evaluation of the importance of financial responsibility in Romania by focusing on population's savings behaviour.…”

Section: Introductionmentioning

confidence: 99%

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Financial and Banking Education of Consumers in the Context of Sustainable Development Society

et al. 2023

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The paper addresses the consumer’s behaviour toward banking services, outlining the need to deepen and complete a financial-banking education. The purpose of the study is to identify the opinions of consumers of banking services regarding the collaboration relationship with financial-banking institutions from the perspective of financial education and sustainable development. In this regard, the authors carried out an analysis of the content of loan agreements using: the method of evaluation grids—a specific method of diagnostic analysis supplemented with in-depth interview—a qualitative research method. Our study highlights the role of financial-banking institutions in the sustainable development of social and economic life, marking the need for primary financial education for effective consumer-bank collaboration. The research results reflect the need to develop contractual relationships based on transparency, fairness, and better financial information and education of consumers. The obtained results are useful for decision-makers in banking institutions to develop lending policies according to customer expectations and for authorities to shape various social development policies.

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Section: Discussionsupporting

confidence: 91%

Section: Introductionmentioning

confidence: 99%

Financial and Banking Education of Consumers in the Context of Sustainable Development Society

et al. 2023

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“…Within the existing scientific literature, reference is also often made to financial education and the need for its constant improvement, under the influence of numerous factors, among which the digital evolution can be mentioned. As per Bratu [6], financial education contributes to increasing the capacity of individuals to use complex financial services and products. The same study notes the fact that, in order to use modern, intensively developed financial products, financial education must be constantly developed, with an emphasis on self-education using technology.…”

Section: Introductionmentioning

confidence: 99%

Scientific research perspectives on the relationship between FinTech and education

Stoica,

Bogoslov,

Serbu

2023

International Review

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The overall perspective of the last decades on the economy and society evolution brings to the fore the undoubted influence of the technological progress on the two interconnected key spheres. Digital transformation ensured the transition to new models in almost all fields of activity, being recognized over the years as a real competitive advantage. Moreover, the characteristic circumstances of the modern world lay the groundwork for new directions that support the digitalization, aiming to enhance the quality and performance of processes mediated by specific providers, as well as to satisfy the needs and requirements of final consumers. The financial spectrum, including its all-related activities, was naturally subjected to the digitalization process, thus ensuring the transition from traditional financial services to financial technology. Gaining an increased interest from companies, financial technology, well-known nowadays as FinTech, has certainly gone beyond the limitation to the banking services. In the current context, with a narrow but significant view, FinTech can be defined as the cluster of digital financial services carried out without the intermediaries' intervention. Even though the implementation of FinTech has become an objective for many entities, the process itself can be influenced by various factors. Among the conditions preceding the overall digital transition facilitation, education has often been identified. Under these considerations, the existence of a causal relationship or, at least, of a direct connection between the adoption of financial technology and education can be called into question. Providing a better understanding of the addressed subject requires, as a preliminary step, the analysis of the two considered concepts, namely FinTech and education, from the perspective of existing scientific research. Thus, the purpose of the current research was to identify some notable aspects regarding the potential relationship, at conceptual level, between financial technology and education. Achieving the predefined goal involved performing a bibliometric analysis, based on the scientific publications indexed in the Web of Science database. The obtained results reveal both the growing interest on the research topic, but also the existence of a direct or indirect cause-effect association between FinTech and education.

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Contemporary Aspects of Financial – Banking Responsibility

Cited by 2 publications

References 10 publications

Financial and Banking Education of Consumers in the Context of Sustainable Development Society

Financial and Banking Education of Consumers in the Context of Sustainable Development Society

Scientific research perspectives on the relationship between FinTech and education

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