Financial literacy and savings in the Fintech Era. The Oval Money case.

Abstract

The work will be organized in two levels: A first level will concern the "user population" of Oval Money. The second phase of the work will involve the development of a survey aimed at investigating users' savings habits in order to test more precisely some research hypotheses taken from the literature. The first phase represents the context within which to develop the analysis of the data collected during the second phase. The latter represents the focus of the the thesis and is extremely relevant to a series of research questions. First of all, it will be interesting to know the attitudes of a target that is still very little studied, that of the youngest, less involved in the savings sector today but among the population groups that will need it most in the near future. Through the survey of behaviours and propensities of this target, it will be possible to understand which are the most common drivers of savings, the strengths and the critical points of a more informal and personalized approach such as the use of the App in a world where more and more distrust towards banks prevails and the immediate approach through the smartphone becomes predominant. I will try to guide the reader so that he can fully understand the Oval Money case starting from the basics of literature. In this regard, we will discuss the main theories of savings, the weight and the increasingly predominant importance of financial literacy and we will explore a little bit of behavioral finance.