Financial Literacy, Inclusion, and Technology (FNCE316)

FINANCAL LITERACY, INCLUSION, AND TECHNOLOGY (FNCE316)

FNCE316 is an SMU-X course designed to teach undergraduates the basic concepts underlying personal financial literacy and how to translate this classroom knowledge into practical solutions for real organizations at the forefront of financial innovation. This is the first module of its kind to be offered at a local university, and is taught by SKBI Director, Prof Dave Fernandez & SKBI Visiting Faculty, Prof Joanne Yoong.

COURSE BACKGROUND

Financial literacy is a critical aspect of building financial resilience across the life cycle. Globally, financial literacy has been redefined in the following ways: 

• Recognize the need for finance to be more inclusive and sustainable
• Introduction of new enablers also introduces new risks, particularly in the instance of financial technology (FinTech)
• Access to new services: robo advisors, buy-now-pay-later
• New products: sustainable or “green” investment funds)

LEARNING OBJECTIVES

• Explain basic concepts underlying personal financial literacy and its changing nature in modern financial systems.
• Evaluate the complex challenges posed by new FinTech products and new sustainability objectives.
• Apply classroom learning to solve real-world problems in financial literacy/inclusion by framing challenges and envisioning solutions from a FinTech-based perspective.  
• Design and test a FinTech-based financial product or strategy.  
• Demonstrate principles of leadership, effective communication, and management in the context of a financial literacy/inclusion project with a FinTech focus.

HIGHLIGHTS FROM FNCE316, AY 2021/22 Term 2

One key aspect of the course is the student consultancy project. The project gives students the opportunity to learn how to solve complex business problems related to financial literacy, inclusion, and fintech, with guidance from the course faculty and project champion mentors (Endowus, Grab, MoneySense, Sea & SGX).