UAE-based teachers launch Edfundo, the world’s first Financial Intelligence Hub
Edfundo is a new and innovative family-focussed Financial Intelligence Hub, comprising a Learning Lab and Smart Money Management App
Two UAE-based teachers have brought together EdTech and FinTech to create the world’s 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 innovative concept has been designed by Simon Wing and Andrew Toward, co-founders of the Edfundo app. Built for kids and teens to champion a new era of financial literacy, digital inclusion and mental wellbeing, the Edfundo Learning Lab is a smart money app with an associated prepaid debit card designed to help ensure youngsters are informed stakeholders in the journey towards a responsible, cashless society. The concept seeks to empower kids and teens to learn, earn, spend and save.
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.
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 prepaid 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. Head of Secondary, Benjamin Atkins said The Aquila School is committed to teaching children pressing life issues, including money management.
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. “Our many years of teaching mean Simon and I know children learn by hearing life stories and hands-on experience,” explained Toward, Edfundo’s COO. “To ensure this content is safe, relevant, and exciting we are co-creating and curating the financial education content with the Edfundo programme team and specialist mentors.”
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 prepaid debit card will follow within weeks, with the first availability offered to those signed up to the GoLIVEList, also on the Edfundo website.
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