November 18, 2021

Tapping into EdTech to tackle Financial Literacy

Mandy Money

What is EdTech?

Educational Technology (EdTech) has been a rapidly growing industry over recent years where institutions are adopting IT tools to facilitate teaching and learning. Educational institutions are increasingly realising the benefits of technology in enhancing the learning experience, and for good reason; EdTech has many proven benefits. To capitalise effectively on its positives, we must ensure adoption is done effectively.  

Why is it Growing?

There are many reasons we’re witnessing a rise in EdTech, mainly an effect from the software tech boom of the 21st century and external pressures from the Covid-19 pandemic.  

Firstly, the technological infrastructure is ripe for widespread EdTech uptake across Australia. Faster internet speeds capable of smooth video conferencing, advances in software facilitating EdTech programs, and a familiarity and integration of smart technology has set the landscape for a shift in the way Australians learn.  

Of course, Covid-19 has played an integral role in accelerating the uptake and transition to EdTech. The last two years every teacher knows all too well the demand for technology to facilitate flexible teaching while also being engaging and retain students’ attention. According to Start-up Daily, adoption of technology was widely varied by schools across Australia, with many variations in services of the 600 EdTech companies available in Australia.  

The Benefits of Ed-Tech

Are EdTech services making a tangible difference to the educational experience, or is it involving technology for the sake of technology?

Firstly, EdTech has proven itself as highly engaging form of learning. For secondary school teaching, we’re talking about the generation that was more likely handed an iPad before their pacifier. Personally, I remember Mathletics as a big part of my schooling – any wet weather lunchtime saw queues of us lining up to try out our fraction skills, and I’m sure anyone who taught students over 2020/2021 saw firsthand the power a simple Kahoot game can have over students’ attention.

Secondly, EdTech services allow for unprecedented accessibility and flexibility. Teaching is no longer regarded as an activity solely held in the classroom, but something that can accommodate difference in learning style and environment preferences.  

Thirdly, EdTech allows educators to capitalise on data to measure learning journeys. For example, EdTech services may be able to help identify areas in the curriculum that students are not doing as well and identify a need for greater emphasis. Or EdTech services may be able to analyse trends to highlight the best method of teaching for certain students, thereby enhancing their educational experience.

How to do EdTech effectively

EdTech has many proven benefits with a list that grows with each innovation and leap in this dynamic industry. To ensure educators keep pace with such rapid changes, it is imperative to support a smooth transition to adoption. A 2021 Deloitte study found that 59% of educators expressed a need for help in facilitating technology in the classroom. This support can come through regular staff training and increasing the ever-in-demand IT team members of a school. Additionally, EdTech companies need to have a focus of making their services as intuitive and smooth as possible. It is crucial that the adoption of EdTech in the classroom enhances the learning experience instead of adding to the endless list of teacher responsibilities.  

Mandy's two cents

Careers are increasingly tech-focused, so it’s important for schools to best prepare your students for what the future of work will look like. EdTech allows for benefiting from technological advances in new and exciting ways. How will your school keep up with the pace?

Curious to try Mandy's EdTech oriented solution to Financial literacy? Try a Free Demo!

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