Economy, digitization, sustainability: the triptych of modern financial literacy

In Greece, it undertakes a number of events to promote financial literacy Alfa Bank putting into practice its corporate purpose to promote progress in life and business for a better tomorrow.

The goal of the Alpha Bank initiative is to support the development of knowledge and skills that will help citizens and businesses make responsible decisions that will improve their financial well-being, as well as strengthen their environmental awareness.

An important role is played by the acquisition of knowledge of financial management, such as drawing up an individual or family budget, savings, timely planning of obligations and familiarization with digital tools and principles of the circular economy, which contribute to economic stability, sustainable development and environmental protection.

The culmination of these efforts is the “IQonomy” program – a social responsibility initiative that promotes equal access to financial literacy among citizens.

IQonomy aims to provide basic financial knowledge and skills to students of all educational levels, empowering women as well as educating the general population over 55 in the new landscape of digital commerce.

“IQonomy” includes four specialized programs targeting social groups identified by the OECD as the most vulnerable in terms of financial literacy, which are implemented in collaboration with civil society organizations such as ActionAid and the non-profit organizations SciCo, Women on Top and People at the Back.

Specifically, these actions are:

* Financial alphabet – a school program introducing basic financial concepts and managing everyday financial matters through experiential methods with the aim of forming a new generation of aware and responsible citizens who understand the complex global financial environment and make informed social and financial decisions. The event is carried out in schools all over Greece with the approval of the Ministry of Education.

* Circular economy in practice – a school program for the development of students’ business plans with a focus on the circular economy. The event, implemented with the approval of the Ministry of Education, brings the new generation into contact with green business and cultivates ecological awareness.

* Economic courses – educational seminars and financial coaching for the empowerment of women from all over Greece, but also for bank employees, with the aim of empowering them with knowledge, confidence and skills

* e-economy for everyone – training programs to teach basic tools for digital management of financial transactions and protection against digital financial fraud for people over 55 years of age.

On the side of individuals and companies

Alpha Bank’s financial literacy initiative also includes events for its private and corporate customers. Through specially designed products and services, the bank helps its customers cope with economic and environmental challenges.

Business consulting through Alpha Business Academy

The Alpha Business Academy program is aimed at small businesses in the country and offers the necessary know-how to develop their business models.

The bank’s clients will have the opportunity to further develop their investment plans through methodical, substantive and integrated planning, strengthening their competitiveness.

Since June, Alpha Bank has been organizing workshops to support investment in development for small businesses.

The workshops started in Heraklion, Crete and continue in different regions of the country, during which, through interactive discussion, best practices of sustainable development strategies that promote modernization and green transformation are developed, with the selection of the most effective development financing instrument according to the business plan.

Innovative events for individuals

Alpha Bank has taken a number of initiatives to educate its private customers in managing their finances and dealing with the bank.

Through a team of ‘Digital Agents’, a team fully versed in the digital landscape, it helps customers who come to the bank’s branches to make the most of digital services for their day-to-day banking needs.

At the same time, Alpha Banka also has a Digital Support Center, a customer support center and training through a scheduled video conference with a bank representative on its digital channels.

myAlpha Vibe is a new, pioneering service that allows parents to give their children a digital wallet. This is an Alpha Bank innovation that allows teenagers aged 15-18 to get their own prepaid card and digital wallet and make transactions at POS and e-shops securely.

Parents can send the pocket money they need at any time digitally from their mobile phone and have full control over the children’s transactions, as they are informed about each transaction and configure the purchase limit, while transactions that are not suitable for minors are not allowed.

Alpha Bank Group CEO Vassilis Psaltis said: “Mastering the basic principles of economics and their application in everyday life, understanding and using new digital technologies and adopting sustainable environmental practices are today more than ever,

the pillars of development At Alpha Bank we are aware of their strategic importance and we implement a number of initiatives to support society and modernize business through dedicated actions for the green transition of small businesses, financial literacy for young people and digital education for older people.

In this way, we are laying the foundations for the creation of new opportunities that will contribute to the equal participation of everyone in economic life. Our bank’s new initiative practically serves our vision of moving forward together towards a better future.”

Financial literacy in Greece

The Alpha Bank initiative is fully in line with the national strategy for financial literacy launched by the OECD under the supervision of the Ministry of National Economy and Finance.

According to the Eurobarometer, Greece ranks 23rd among the 27 countries of the European Union in terms of the financial capabilities of its citizens. Also, according to the MRB survey carried out in 2022 on behalf of Alpha Bank, the financial literacy index in Greece is 56, while the OECD indicates the European average in the corresponding index of 61.

Leave a Reply

Your email address will not be published. Required fields are marked *