Edfundo is an innovative new financial information hub for families that includes a learning lab and a smart money management app
Two UAE educators have brought together EdTech and FinTech to create the world’s first financial information hub complete with a learning resource and smart money management app designed by educators to foster money management skills in children and young people.
Edfundo founders Andrew
Andrew Toward (left) and Simon Wing (right) teachers based in the UAE
The innovative concept was created by Simon Wing and Andrew Designed Toward , co-founders of the Edfundo app. Edmundo Learning Lab is a smart money app with an accompanying prepaid debit card designed for children and young people to foster a new era of financial literacy, digital inclusion, and mental wellbeing as people move towards a responsible, cashless society informed. The concept aims to enable children and young people to learn, earn, spend and save.
The specially designed learning resource Edfundo Learning Lab includes a mix of free and paid personal and micro online educational programs.According to Edfundo CEO Wing, financial illiteracy is rampant among children and many adults, making the learning lab an essential complement to Edfundo’s core product and ensuring financial literacy underpins neobanking’s transformative business model. “Throughout our teaching tenure in the UK and UAE, my co-founder Andrew Toward and I have found that the promise of teaching children money management in schools is often hampered by a lack of adequate teaching resources. “Edfundo Learning Lab will help bridge the gap at home, online and in the classroom. Together, the smart money management app and the prepaid debit card will enable young people to put what they have learned into practice immediately,” said Wing.
Meanwhile, the Aquila School, based in Dubai and part of the International Schools Partnership (ISP), is the first to join the Edfundo for Schools initiative as Edfundo’s education partner. Secondary school principal Benjamin Atkins said the Aquila School is committed to teaching children pressing life issues, including how to manage money.
The COO of Edfundo Toward confirmed that parents can also participate in Edfundo’s online and classroom tips, lessons, and micro-learning scenarios. Additional subscription-based step-by-step modules also provide the whole family with access to the virtual community environment, where learning follows a “share, show, do” model with narrative content. “From our many years of teaching, Simon and I know that children learn by listening to life stories and real-world experiences,” said Toward, COO of Edfundo. “To ensure this content is safe, relevant and engaging, we create and curate the financial education content alongside the Edfundo program team and specialist mentors.”
The learning lab content is co-created by a group of multinational specialists led by Wing and Toward and includes Bahraini-British GenZ Montessori teacher Tariq Nasser; Saudi FinTech and business development expert Saleh AlHammad; Children’s educational author and former financial executive Will Rainey.
The Edfundo Learning Lab will go live in early March bringing smart money management tips and facts to the public across social media platforms as well as the Edfundo website. Access to the smart money management app and virtual prepaid debit card will follow in a few weeks, with initial availability being offered to those registered on GoLIVEList, and also on the Edfundo website.