11Onze, the Barcelona-based community fintech, has carved out a niche for itself in Europe as the leading provider of financial education to its community by enrolling 52 schools in Catalonia in its 11Onze Schools initiative.
“Our mission is to engage and educate young students to improve their financial literacy by teaching them how money works and the technology behind it,” explained 11Onze President James Séne.
“We understand that without basic financial education, children and young adults will face immense challenges in effectively managing their finances. This could lead to bad credit, bankruptcy and lack of savings.
According to a green light study, nearly three-quarters of teens (74%) said they were not confident in their personal finance knowledge. About the same percentage of teens (73%) said they wanted to know more.
“When a school requests a free lesson with us, they can choose whether they want it to be virtual or face-to-face. In both cases, an 11Onze representative will offer them a 1 hour lesson. Currently, we offer three course types: Introduction to Financial Education; Open Banking; Digital Currencies,” explained Toni Mata, Director of Content and Media, 11Onze.
11Onze took trial classes at the Arraona Institute in Sabadell and at Cendrassos in Figueres. “We had conversations with Escoles Pies i Cic-Thau. We are now entering the phase of scheduling classes for these schools and for the 10,000 public schools that can request a session, Mata added.
The idea of the 11Onze school was suggested by members of La Plaça de 11Onze, Séne revealed. “Impressed by the information disseminated on La Plaça, a secondary school teacher asked us if we could offer a financial education session to his students. We have decided to go further, to offer financial literacy sessions and to appoint 11Onze ambassadors in schools who will continue the financial literacy campaign.”
“We cover topics like credit cards, crypto, and money management. For young people, digital banking is no longer a mystery, although they know little about all the processes behind it. Since almost all of them have financial apps on their mobile phones, they are keen on financial education,” added Sène.
Joan Medard Oriol Barris, Professor, Cendrassos Institute of Figueres said:
“We were delighted that 11Onze offered this financial literacy session. It was quite popular. It broadened the subject I teach and covered key technologies used in financial institutions, financial instruments, payment and collection systems…subjects you don’t learn about in your day to day life .
“In today’s environment, where we have to rely on ourselves to make important decisions such as which credit cards, mortgage deals or savings instruments to choose, the responsibility to educate ourselves is paramount – at the both individually and collectively,” explained Séne.
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