Campaign to improve financial literacy receives £1.5m boost with Capital.com gift for Oxford Future Of Fintech Research

The University of Oxford’s Saïd Business School is launching a new five-year research programme to address urgent issues caused by lack of financial literacy following a £1.5m donation from Capital.com, one of Europe’s fastest growing fintech platforms.

The groundbreaking project at Saïd Business School’s Oxford Future of Finance and Technology Initiative will fuse research from world-leading experts in the fields of behavioural finance and corporate social responsibility, in an attempt to find solutions that help people improve their financial judgements.

Financial literacy is defined as the overall health of an individual’s financial life, including their ability to attain financial security and prevent stress. 

Reports show:

• Only one third of the world’s adult population can perform basic financial tasks and be considered financially literate.

• In the US, over 40% of employees run out of money before their next pay date and are four times more likely to be suffering from depression and anxiety

• A recent UK survey showed nearly half the adult population suffer from “money worries”, with younger adults and ethnic minorities more severely affected. 

• The situation is even starker in developing countries.

The new research laboratory will be led by Dr Shumiao Ouyang, whose previous work has examined how consumers of financial products can be influenced towards healthier financial decision-making, and Professor Pinar Ozcan, lead of the Oxford Future of Finance and Technology Initiative, whose research focuses on creating corporate environments that prioritise customer wellbeing.

Professor Ozcan said: ‘Lack of financial education doesn’t just affect people’s wallets - it takes a toll on their mental and physical health and limits their ability to plan for the future. I’m grateful to Capital.com for stepping up to address this critical issue and backing research that can drive real, lasting change.’

The Oxford team will work closely with experts from Capital.com, whose client trading volumes exceeded $1.7 trillion in 2024.  Viktor Prokopenya, Founder of Capital.com, said: ‘Capital.com’s mission has always been to help people make better financial decisions by giving them the tools, resources and education they need to save, invest and trade with confidence. My life was transformed after learning financial skills and I hope this partnership with the University of Oxford can create new solutions that can have a similarly transformative impact on the lives of others.’

Professor Soumitra Dutta, Peter Moores, Dean of Oxford Saïd, School, added: ‘We’re hugely grateful to Mr Prokopenya and Capital.com for this transformative gift to address the widespread effects of financial illiteracy. Thanks to their generosity, this important research will generate actionable insights and help design effective educational programmes to reduce global financial vulnerability.

The research will examine the causes and prevalence of financial illiteracy and provide policy recommendations for effective, data-informed financial education programmes. 

The team will also work together on data analysis and create new features and games aimed at developing investors’ financial skills. These interventions aim to reduce financial vulnerability, enhance consumer confidence, and contribute to the development of more resilient economies.

The gift will fund a dedicated team of five academics and a communications manager working across two core research themes:

• Behavioural Finance: Led by Dr Ouyang. This stream will apply principles from economics and finance to understand consumer behaviour, aiming to help individuals make more informed and effective decisions.  

• Corporate Social Responsibility: Led by Professor Ozcan.  This stream will involve global field research to identify best practices in cultivating corporate environments that prioritise consumer wellbeing within the financial sector.

Dr Ouyang explained: ‘Our research will combine behavioural economics, AI, and digital technologies to design accessible financial education strategies. By equipping individuals to navigate modern digital trading environments, we aim to enhance financial resilience and promote responsible financial behaviours. We’re grateful to Capital.com for their generous support in making this work possible.’