The next financial exam is upon us and you should prepare for it.
Financial educators, however, have been under pressure to deliver a higher standard of instruction to their students and have struggled with the pressures of maintaining standards in a fast-changing economy.
In a new report from the Financial Education Research Institute (FEIRI), the research organisation says a number of factors are at play, including the ageing of the population, changing education systems, and the growth of digital learning and mobile applications.
“The future is digital and the future is now,” FERI chief executive Steve Chisnall said.
“People are going to get more and more sophisticated about learning from an increasingly connected world.”
With the rise of online learning and the rise in the internet of things, there are more opportunities to be more creative with learning.
“Ferrara-Carmichael said the new report showed that financial education was “under pressure” because of a lack of investment in research and education.”
If we want to continue to innovate and learn, it’s going to be important to invest in research to ensure we keep up with changing needs and to ensure that we can continue to build on what we’ve learnt,” she said.”
It’s about the future of the economy, not just for Australia but for the world.
“Ferrias-Cramins-Chisnalls-Ferraro said that the future was now and “we need to prepare for that”.”
As the digital economy matures, the demand for financial education is going to go up and the financial institutions are going a long way to meet that demand.””
We’ve got to prepare students for the future, which is digital learning.”
As the digital economy matures, the demand for financial education is going to go up and the financial institutions are going a long way to meet that demand.
“The financial industry has been hit by the rapid growth of the digital world, and FERF has warned that financial institutions could lose up to $US5 billion in the next 12 months if they do not prepare students and staff adequately for the digital revolution.
Ferrrias Carmichael said there was a need for a stronger focus on training financial professionals to better manage the technology in the digital age.”
What we have to look at now is how we have our workforce prepared to manage these technologies in the future,” she explained.”
We need to look to ensure the people who are in charge of that are able to keep up.
“The Financial Education Workbook is a 12-page handbook for financial educators, covering everything from digital learning, financial technology, finance and technology.
The report says it’s an ideal guide for students preparing for the financial exam.”
Our research found that students are increasingly using their smartphone, tablet or computer to complete their financial education assignments and financial literacy is a key part of the way students learn,” Ms Carmichael told ABC News.”
Students are looking for guidance and guidance is coming from the financial institution, not the students.
“When we talk about the technology, we don’t talk about that at all.”
Read more about the financial industry:Topics:business-economics-and-finance,consumer-franchises,business-group,financial-services,education,government-and/or-politics,corporate-governance,education-industry,education-,education-policy,australiaContact Ashley Taylor