The aim of project is to do evaluation of financial literacy, which leads to changes in consumer behavior of using innovative financial services. The relevance of the research is confirmed by innovations in financial services sector, which have an effect for all parties in financial market, but especially for consumers. Furthermore, the bank of Lithuania is taking a big place to help for a faster integration of financial services in Lithuania context and all FinTech companies are, also, implementing new financial technologies. It means that is ability for consumers to get modern, quality and cheaper services. Because of these change consumers should be prepared to use it fully in daily. Obviously, it is beginning of these changes, but innovative financial services are implementing fast in financial sector, so is the main question how it will change consumers behavior evaluated by financial literacy.
Project funding:
Project is funded by EU Structural Funds according to the 2014–2020 Operational Programme for the European Union Funds’ Investments priority “Development of scientific competence of researchers, other researchers, students through practical scientific activities” under Measure No. 09.3.3-LMT-K-712.
Project results:
The main objective of the project requires analysis of scientific literature, which let to give answers about importance of finance literacy, applicable evaluation methods and relationships between innovative financial services importance and consumers behavior changes by implementation of innovative financial services in financial sector. All systematization of data will let to understand how suggested innovative financial services in Lithuania effect consumers behavior and how they are prepared to use these innovative financial services. In addition, the researcher results will be presented at a seminar at the Faculty of Economic and Business. Furthermore, at a scientific conference will be read an announcement and will be published a scientific article, and all material of research will be used in bachelor thesis.
Period of project implementation: 2019-10-15 - 2020-04-30
Project coordinator: Kaunas University of Technology
