Hands-on Workshop: Advancing Financial Capability Efforts with Emerging Educational Technologies

This Event Has Ended

December 10, 2014

8:30 a.m. - 5:00 p.m.

Connolly Center, 4th Floor

Federal Reserve Bank of Boston

600 Atlantic Avenue

Boston, MA 02210

What role can technology play to help advance the financial capabilities of underserved young people? To answer this question, the Boston Fed's Financial Capabilities Group, in partnership with the President's Advisory Council on Financial Capability for Young Americans (PACFCYA) Technology & Innovation Working Group, held a hands-on workshop on advancing financial capability efforts using emerging educational technologies.

Agenda

8:30 a.m. – 9:00

Breakfast and Registration

9:00 – 9:30

Opening Remarks and Traming

Richard Walker III, Senior Vice President, Regional & Community Outreach, Boston Fed

Louisa Quittman, Director of the Office of Financial Education, Office of Consumer Policy, U.S. Department of the Treasury

9:40 – 10:30

Educational Technology Lightning Talks

Christine Capota, Senior Outreach & Technology Specialist, Boston Fed

S. Craig Watkins, Ph.D., Professor, University of Texas at Austin
Underserved Youth and Digital Media

Amy Stevens, Associate Vice President, eLearning, Southern New Hampshire University
Designing eLearning that is Both Personalized and Scalable

Justin Reich, Richard L. Menschel HarvardX Research Fellow, Harvard University
MOOCs and the Science of Learning

Jason Young, CEO and Co-Founder, Mindblown Labs
Technology as a Catalyst for Engagement & Student Learning

Q&A

10:30 – 10:45

Coffee Break

10:45 – 12:00 p.m.

Financial Capability Lightning Talks

David Bell, Director of Operations & Program Development, Operation HOPE
Building Analytics into the Banking on Our Future College Edition Mobile App

Billy Hensley, Ph.D., Director of Education, National Endowment for Financial Education (NEFE)
Reaching Noncaptive Audiences Online with Smart About Money

Luke Reynolds, Chief of Outreach & Program Development, Federal Deposit Insurance Corporation (FDIC)
Making Money Smart Engaging for Young Adults

Andria Matzenbacher, Senior Learning Technology Designer, St. Louis Fed
Increasing the Interactivity of Personal Finance 101 Chat: Car Insurance

Q&A

12:00 – 12:45

Lunch and Learn

Introduction to User-centered Design Approaches

12:50 – 2:15

Breakout Sessions

2:15 – 2:45

Breakout Groups Present Recommendations

2:50 – 3:20

Reflection Panel: What Have We Learned and Where Do We Go from Here?

Louisa Quittman, Moderator

David Bell, Billy Hensley, Ph.D., Luke Reynolds, Mary Suiter, Ph.D.
(financial capability panelists)

S. Craig Watkins, Ph.D., Amy Stevens, Jason Young
(educational technology panelists)

3:25 – 3:30

Closing Remarks

Sol Carbonell, Assistant Vice President, Regional & Community Outreach, Boston Fed

3:30 – 5:00

Coffee and Networking

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Background Materials

About the Workshop

The use of technology in education has gained tremendous traction in recent years, providing important insights into the ways in which technology can help increase student knowledge and understanding. The workshop convened leaders from the fields of educational technology and financial capabilities to help determine how the financial capability field can apply promising technology-facilitated strategies that benefit underserved young people. The objectives of the workshop were to:

Capture best practices from the field of educational technology that have been shown to increase student knowledge and skills.
Explore the application of promising technology strategies to enhance both the delivery and relevance of widely disseminated financial education content [curricula].
Produce tangible recommendations that can guide future financial capability technology efforts and allow for testing of the effectiveness of these efforts.

The workshop provided a snapshot of best practices from the field of educational technology, proposed improvements for financial capabilities technology initiatives, and leveraged expertise of guests though small breakout sessions that applied a user-centered approach to improving widely used existing financial capabilities curricula. The workshop ended with a reflection panel consisting of financial capabilities and educational technology experts on future opportunities for strengthening financial capability efforts that leverage technology to reach underserved young people.

About the Hosts

This event was hosted by the Federal Reserve Bank of Boston Financial Capabilities Group in partnership with the President's Advisory Council on Financial Capability for Young Americans (PACFCYA) Innovation and Technology Working Group.

The Financial Capabilities Group of the Boston Fed promotes household financial stability and financial capabilities of low- and moderate-income (LMI) populations and explores ways in which technology can be used to improve outcomes. The PACFCYA's Innovation and Technology Working Group is examining ways to leverage technology and innovation to provide young people, especially those who are un- and under-banked, access to safe and affordable financial products and services that help them manage their money, handle debt, and to plan, save, and invest for the future.

About the Presenters

Biographies of presenters are available here.

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