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Financial literacy

The need to make sound financial decisions is shown by statistics highlighting the fact that many individuals and households experience financial difficulties, with the current global economic situation worsening their situation.

To counteract these developments financial literacy is needed.

Financial literacy

Even though it is never too late, the greatest impact is obtained when financial literacy skills are developed from an early age to support healthy decisions over a lifespan. But what exactly is financial literacy? Financial literacy is defined by the OECD (Organisation for Economic Co-operation and Development) as a combination of financial awareness, knowledge, skills, attitudes and behaviors necessary to make sound financial decisions and ultimately achieve individual financial well-being. 

As a signatory of the UN Principles for Responsible Banking, we work responsibly with our clients and our customers to encourage sustainable practices and enable economic activities that create shared prosperity for current and future generations.

Financial literacy is of highest importance for RBI, since

  • The financial literacy scores in the markets in which we operate are diverse and need to be generally improved.
  • Programs in the areas of financial education are needed, as many users of financial products lack financial literacy competencies.
  • Financial literacy is one of the things that will encompass just about every aspect of a person’s life.
  • Our mission is to constantly strive to improve customer experience and enable our clients to achieve more in their lives and businesses.

Financial education with minecraft

Learning about the fundamentals of money, good financial habits and other vital financial topics is one of the most important skills that a young teenager can acquire. However, there is only little interest. Therefore, RBI continuously strives to improve the way financial education is taught. Over the last months, RBI has been developing an interactive and engaging way of teaching critical financial aspects and terms to young students, using the Minecraft Education Edition.

With the Minecraft game “My Finance Quests” a new chapter within RBI’s financial education initiatives has begun, as it combines valuable information and great entertainment at the same time and thus is able to attract the attention of its users.

The focus of the game lies on 3 main topics: How a Bank works, Saving & Budgeting and Online Security. Each topic features its own level, with a respective storyline, with unique game mechanics, NPC interactions (NPC Interactions is a feature allowing users to set up dialog and chat with Non-Player Characters.) and engaging quests. This means that each main topic will act as its own “minigame”, that is designed to be played during one school session.

Each topic differs in content heavily and different storylines, quests, and other ways are used as well to deepen the understanding for the information provided for the students. Moreover, the game is set in a chronological order starting from the 19th century. Therefore, the first “minigame” takes place in the late 1800s, the second in the 20th century and the last one in current times.

Why minecraft?

Minecraft is well known at nearly all ages and hundred of schools already use the Education Edition of Minecraft to teach for example geology or art. Furthermore, it is easy to get.

By using a gamified experience instead of traditional educational lessons, we at RBI hope to better interact and engage with Gen Z and Gen Alpha, respectively. We strongly believe that with RBI’s offer of a unique and interacting way of learning more complex topics through gaming, we will have a higher chance of improving the students’ financial literacy. In fact, our last feedback sessions with high-school students in Austria and Slovakia support this idea.

RBI Minecraft Teacher's Handbook

How do schools use the game?

Our goal is to provide schools with the ability to host an interactive and engaging session for kids between the ages of 10 and 15. That is why each “minigame” is designed to have the playtime of approximately 30-40 minutes, enough for one teaching lessons.

Since the game is designed to be played in classrooms, it does not offer a full “self-learning” experience. Rather, the game requires a teacher or a presenter to moderate the players, give hints and further explain some game concepts. It is supposed to be an interactive session, where the players are guided through each level.

Anyone with an already existing Microsoft Office 365 account only needs to log in into Minecraft Education Edition and can directly play our game “My Finance Quests”. If you don’t have an Office 365 account or need a license to be able to play the game, please don’t hesitate to contact us under or on the telephone, (01) 717 07-3345. For further information about retail climate and environmental strategy please kindly reach out to Nikoletta Kovacs,

Selected financial educational initiatives from our networks

World Phenomena Money
Tatra Banka, a.s.

World Phenomena Money

“World Phenomena Money” was developed for primary school children on the basis of BBC educational videos. When creating the “World Phenomena Money”, the authors followed the National Standard for Financial Literacy 1.2.

World Phenomena Money

As per the national curriculum, the interdisciplinary topic of financial literacy requires to be taught at every level of education in Slovakia. Therefore, Tatra banka, a.s., developed in its long-standing partnership with the non-profit education organization Edulab high-quality teaching material.

World Phenomena Money

“World Phenomena Money” was developed for primary school children on the basis of BBC educational videos. When creating the “World Phenomena Money”, the authors followed the National Standard for Financial Literacy 1.2. The aim was to provide teachers with attractive materials that they can use to familiarize pupils with this complex topic. Pupils will improve in solving word problems, calculating percentages, interpreting data, or working with statistical files. To make the content appealing to pupils, the high-quality videos are used in combination with various activities and interactive exercises. This enables them to learn critical thinking, joined-up thinking, reading comprehension, and teamwork.

As the partner for the “Money” module, Tatra banka gives pupils the opportunity to expand their financial knowledge through high-quality video content in order to improve their skills in this specific area. The module answers elementary questions about money, what it is for and how it affects our everyday lives.

Online education platform “”
Raiffeisenbank a.s. in the Czech Republic

Online education platform “”

”“ meets the standards for financial literacy and can be officially used in school lessons as it has been included in the national register of financial education projects by the Ministry of Finance of the Czech Republic.

Online education platform “”

In the Czech Republic financial literacy is based on the National Strategy for Financial Education. This Strategy wants to create a financial education system that aims to increase the level of financial literacy in the Czech Republic. Since 2017, Raiffeisenbank a.s. in the Czech Republic has funded the development of the online education platform “”, which is available free of charge to schoolchildren and teachers and in the meantime available in English and Slovakian. ”Zlatka.In“ meets the standards for financial literacy and can be officially used in school lessons as it has been included in the national register of financial education projects by the Ministry of Finance of the Czech Republic.

Online education platform “”

Equipped with the necessary know-how on the topics of money, finance and financial planning, teachers use the online tool to playfully impart financial knowledge. The platform tailors the tasks to the level of knowledge of the individual pupil. Seeing rising visitor numbers each year, the website was expanded to include a module enabling secondary schools to use it in addition to the existing target audience of primary school pupils, parents and teachers in 2020. The new module gives pupils the opportunity to try out roles that they might want to take on in real life, e.g. entrepreneur.

As well as teaching financial literacy through play, the website promotes a humanistic mindset. Since fall 2019, once a year a special campaign is run under which children earn virtual ”coins“ by solving tasks. By letting them choose whether to collect their “coins” in exchange for items or donate their “earnings”, children are able to have an impact as Raiffeisenbank converts their “earnings” into “real” money and donates it to the organizations selected by the children.

Financial Education Albania
Albania Raiffeisen Invest

Material for Albania's schools

In Albanian schools, financial education is also on the agenda – with the two projects "Financial Education in the digital age" and "Know your money", which are supported by Albania Raiffeisen Invest.

“Financial Education in the digital age”, “Know your money”, "Apply electronic payment"

In Albania's schools, financial education is also on the agenda, with the two projects "Financial Education in the digital age" and "Know your money" supported by Albania Raiffeisen Invest.

Financial Education Albania

"Financial Education in the Digital Age" focused on 5 training sessions aimed at educating and orienting young people for digital financial services, strengthening their trust and expanding their knowledge of information security issues of these services. The training, attended by more than 200 students from Tirana, focused on changing the mentality of cash avoidance and using innovative solutions such as contactless cards and mobile applications to conduct banking transactions, while also informing them about the risks and vulnerabilities of banking devices and applications.

The project "Know Your Money", which is implemented by the Institute for Sustainable Policy, aims to inform high school students from Tirana about financial education and also to show the students what advantages this entails. 

But also the further education of the rest of the population of Albania should not be neglected, which is why Albania Raiffeisen Invest also supports the project "Apply electronic payment":

The project aims to raise awareness of electronic payments and was implemented by the ABC Tirana Club in collaboration with the Faculty of Economics of the University of Tirana, which is already the third edition of the program for economic and financial education of the public. Among other things, it is intended to encourage people to inform themselves about electronic payment and ultimately to show the positive effects this has on daily life and to stimulate a general discussion in Albania that there is also more investment in information and education campaigns on this topic.