Arbitro Bancario e Finanziario has been a success: last year over 30.000 complaints were received; the analogous entity for insurance, Arbitro Assicurativo, will be established presumably in the early 2020.
However, financial regulation and good supervision could be not enough if consumers do not really understand their financial needs and cannot operate properly their rights: effective financial education is a crucial life skill in order to make financial decisions consistent with personal and family needs. In today’s digital age, financial markets offer everybody easy access to a wide range of financial services and products.