Innovate Finance and Deloitte are teaming up to offer a new finance educational app to Scottish students to provide them with knowledge of their future finances.

The app will allow Scottish students to learn more about how to manage their money in the future, whilst developing a wider understanding of financial inclusion, banking, mobile payments, and cryptocurrency.

Additionally, students will be helped to learn more about mobile payments, the use of their personal data and the role that tech plays in the evolution of financial services.

Commenting on the app roll-out, Deloitte’s risk analytics and fintech lead for Scotland, Kent Mackenzie, said: “A variety of reports over the last few years have highlighted the risk we run in sleepwalking into a digital skills gap. To avoid this, it is vital to support talent and skills development in fintech as we look towards a digital future.

“Our aim through this app and programme is to build knowledge and to demonstrate the value in pursuing fintech as a career and give young people the chance to learn more about the role it already plays in their day-to-day lives.

“Fintech contributes significantly to the Scottish economy every year, and there is potential for this to grow even further. However, to achieve this, we need to invest in digital upskilling at every level, and ideally, engage and inspire young people at a young age to ensure success.”

Shona McAlpine, Computing Science Teacher, Stirling High School, added: “This app will give our pupils the insight they need to understand the fintech sector and the opportunities that are available to them.

“I am confident all students will benefit from this technology, which is simple to use and understand, and will help them see how fintech is already part of their everyday lives.”

Deloitte is working with Skills Development Scotland (SDS) and FinTech Scotland on the delivery of a pilot project with five schools including Johnstone High School, Stirling High School, Grantown Grammar, Peebles High School, and St Kentigerns Academy.

Following the pilot, Deloitte will look to release the tech in all schools in Scotland next year, ensuring pupils all over the country can access work experience, insights, and encouragement about a potential career in fintech.

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Claire Gillespie, Digital Technology Skills Industry Manager at SDS said that acceleration of new technologies has made it “hugely important” for employers to “grasp the opportunity” to show young people how digital skills can help them find a future career.

“The success of our Tech Industry in the Classroom programme of live lessons showed this concept has a great deal to offer. It gives young people a genuine insight into the tech sector and helps employers engage with potential new talent,” Gillespie said.

“We are hoping that employers across Scotland make use of the Tech Industry in Schools Toolkit which launched last month and aims to make it as easy as possible for them to engage with schools,” she added.

CEO of Fintech Scotland Nicola Anderson concluded: “Fintech is shaping the future of finance and is developing rapidly. It’s driven by contributions from a completely diverse range of talent and skills and it’s vital that our children and young people are engaged in the future of fintech.

“We’re delighted to work with Skills Development Scotland, Deloitte and our fintech SME’s AccessFintech, Soar and EedenBull on this exciting initiative. Through the combination of this app and hearing direct experiences from our inspiring fintech businesses, we hope to excite future talent about the prospect of fintech, explaining opportunities, busting myths and generating enthusiasm for fintech for all.”

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