Towards Measurement Framework of Digital Skills in Finance

Abstract

The ongoing technological transformation and increasing the areas of application of digital tools are naturally also observed in finance. The development of new e-finance solutions increasingly requires the digital competence of customers of the financial sector. This article aims to propose and discuss digital financial competence framework that together with a prospective statistical measurement system may help to identify problems posed by emerging digitalisation of society and economy. It attempts to systemise the measurement through the proposed framework, also dealing with conceptual and practical issues related to digital competences and skills. The article attempts to define critical competences of individuals, for the financial sector. There have been many propositions so far of generic digital skills frameworks and digital literacy assessment tools. However, there has been no proposition of digital skills framework for financial services. This paper adds to the existing works by proposing the relevant scheme of digital competences for digital financial services that subsequently may be used as a reference framework for statistical measurement.