EduFin Summit, the annual benchmark event on financial education organized by BBVA's Center for Financial Education and Capability, is back after a year of absence due to the pandemic. This year's online edition will begin on May 12 for five days during a three-week-period. Edufin Summit 2021 will address the state of financial education in the post-COVID era and the value of financial knowledge for contributing to inclusive growth, among other topics.
This summit's goal is to create a space for debate and reflection on the new role of financial education in the post-COVID world and the challenges it poses. The interest it has sparked is reflected in the numbers: in the first two days of registration, 300 people from 35 countries had already registered.
Challenges and opportunities
EduFin Summit 2021 will address the most important points for today's financial education, such as the need to acquire knowledge in finance to build a society with greater financial resilience. The goal is to create a system that improves people's well-being and helps the transition to a sustainable future. However, a lack of financial capacities can aggravate social problems, such as poverty, inequality or the lack of job opportunities, among others.
EduFin Position Paper
One of this summit´s greatest developments is the BBVA Center for Financial Education and Capability´s position paper that has been worked on for months by experts who have been with the center since its creation in 2017. The EduFin Position Paper will discuss BBVA's views regarding the main challenges for the future of financial education as a lever for improving people's financial health and favoring society's inclusive growth.
During EduFin Summit 2021, all proposals and recommendations for action presented for each of the five topics that the event will be devoted to will be publicly debated and will serve to complete the document. The final version will be published in June.
International experts will debate the following issues over the course of five sessions scheduled on different dates throughout May from 3:00 p.m. to 5:00 p.m.
- May 12: Financial education for inclusive growth
- May 13: The digital divide and access to financial services
- May 19: Financial vulnerability and how to reduce it
- May 20: Collaborative frameworks to improve financial literacy.
- May 26: Financial health and wellness
The importance of these topics is exemplified by the efforts of The European Commission (Directorate General for Financial Stability, Financial Services and Capital Markets Union - DG FISMA) and the OECD International Network on Financial Education, that will jointly develop a financial competence framework for the European Union.
This project´s announcement coincided with the proposal that the National Securities Market Commission (CNMV), the Bank of Spain and the Ministry of Economic Affairs and Digital Transformation sent to the Ministry of Education and Professional Training about adding more financial education classes in the school curriculum. The objective is to train citizens so that they can make their financial decisions in an increasingly complex and dynamic environment.
An international landmark event
EduFin Summit debuted in Mexico City in 2017 as the first global event in the field of financial education. Throughout its subsequent editions in cities such as Buenos Aires (2018) and Madrid (2019), this summit has established itself as a benchmark event for its international scope, innovative topics and high-profile speakers.
Each of these international events has brought together over 200 experts from around the world for debates on timely topics such as behavioral economics, contributing to the SDGs and the financial world´s digital transformation. All of this has been possible thanks to BBVA's Center for Financial Education and Capability´s solidity and rigor during its twelve plus years of developing financial education programs.
Those interested in attending EduFin Summit 2021 sessions can register for free through this link.