Bankers’ digital financial literacy: literature reviews and orientation for further study

Abstract

The purpose of this paper is to explore the research gap on digital financial competency and digital
financial competency framework for bank employees. To achieve this goal, the author has used search tools
to find the related terms about digital financial competency/literacy. The results of reviewing of more than
100 related research works from 2015 up to 2022, show that: There is a relative consensus on the definition
of digital financial competence, which is the intersection of digital competency/literacy and financial
competency/literacy. However, there is no consensus on the components of digital financial competency
or digital financial competency framework in general and for employees in the banking sector in particular.
Based on these research gaps, the author has a general orientation for future research: (i)Research to
determine the components of the digital financial competency framework in general; and (ii) Study to identify
components of a digital financial competency framework for bankers in Vietnam. Some policy implications
related to digital competency associated with the National Digital Transformation Strategy in Vietnam are
also discussed.