Two UAE-based teachers have fused EdTech with FinTech to create the first financial intelligence hub, complete with a learning resource and a smart money management app built by educators to nurture money management skills among kids and teens.
The purpose-built learning resource – the Edfundo Learning Lab – comprises a mix of face-to-face and micro online, free, and paid-for educational programmes.
It is designed by Simon Wing and Andrew Toward, co-founders of the Edfundo app and pre-paid debit card aimed at empowering youngsters to learn, earn, spend, and save in the impending cashless society.
Wing, Edfundo’s CEO, says financial illiteracy is rife in children and many adults making the Learning Lab an essential adjunct to Edfundo’s core product ensuring financial education underpins the transformative neobanking business model.
“Throughout our teaching careers in the UK and UAE my fellow co-founder Andrew Toward and I have found that commitments to tutoring kids in money management in schools are often hampered by the lack of appropriate teaching tools.
“The Edfundo Learning Lab will help plug the gap at home, online and in the classroom. In tandem, the smart money management app and pre-paid debit card will allow youngsters to put their learning into immediate practice,” Wing said.
Meanwhile, Dubai-based The Aquila School, part of International Schools Partnership (ISP), is the first to join the Edfundo for Schools initiative as an Edfundo Education Partner.
Edfundo’s COO Toward confirmed that parents can also take part in Edfundo’s online and in-classroom micro-learning tips, lessons, and scenarios. Extra-subscription-based, step-by-step modules will also provide full-family access to the virtual community environment where learning follows the ‘share, show, do’ model, with storytelling content.
The Learning Lab’s content is co-created by a group of multi-national specialists led by Wing and Toward and featuring Bahraini-British GenZ Montessori teacher, Tariq Nasser; Saudi FinTech & business development expert, Saleh AlHammad; children’s learning author & former finance executive, Will Rainey.
The Edfundo Learning Lab will go live in early March with smart money management tips and facts for public access via social media platforms as well as the Edfundo website.
Access to the smart money management app and virtual pre-paid debit card will follow within weeks, with the first availability offered to those signed up to the GoLIVEList.
