Let's talk about money. Insurance company Partners Life has teamed up with Banqer — which provides financial education for primary, intermediate and secondary schools — to launch the Money Month Challenge. The free two-week financial literacy training course is designed for adults and begins on August 12. Participants will gain hands-on experience with financial concepts, learn new money skills and help close any knowledge gaps in managing finances. From earning and budgeting to debt management, property investment and risk management, the course is designed to equip Kiwis with the tools needed for financial success. Recent research by Partners Life showed the majority of Kiwis (62%) believed that worrying about finances was affecting their relationships with friends and family and close to half had lost sleep or experienced stress because of their finances. Just over two-fifths struggled to pay their monthly expenses and nearly a quarter relied on credit cards or loans to make ends meet. While three-quarters of Kiwis acknowledged the heightened importance of financial literacy amid the current cost-of-living crisis, most had never received professional financial literacy training. Banqer co-chief executive Simon Brown said it was widely acknowledged that times were tough for Kiwis and financial education and literacy were more important than ever. Banqer was looking to build from its experiences and resources with school pupils into adult financial education to help Kiwis grow their financial capability. The company intended working more with adults and the Money Month Challenge was the start of that, he said. Banqer was used by more than 200 secondary schools and 25,000 secondary school pupils in New Zealand and a further 130 Australian secondary schools, including 13,000 pupils. More than 50,000 New Zealand primary school pupils accessed the platform each year along with a further 22,500 Australian primary school pupils. A handful of schools in the United Kingdom and United States also used it. Banqer’s platform for secondary pupils, Banqer High, was a real-world financial education experience, introducing them to and letting them explore financial concepts through an online simulation. Students manage their budget, explore career paths, go flatting with friends and dabble with investing. They regularly face decisions that have financial impacts, learning the consequences of their choices first-hand in a safe environment. Unlike future generations who would benefit from Banqer’s in-school programmes, nearly half of adults had learned what they knew about money through potentially costly mistakes, Mr Brown said. Money largely remained a "taboo" topic — people tended not to talk about something so inherently personal — and that led to a continuation of poor financial habits, he said. Asked where he believed New Zealand sat in terms of financial literacy globally, Mr Brown said it was challenging to get comparability but he thought it was probably "upper middle of the pack". Kiwis’ ongoing passion for investing and buying property remained front of mind for many, particularly as it became more challenging to get into property, while the rise of platforms such as Sharesies and Hatch had meant people could invest more easily.

Becoming financially literate

Jul 8, 2024 – 12.51pm
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Over the past few years, New Zealand has increasingly become a hub for innovative companies making significant strides across industries and entire economic sectors. Among those making the biggest splash across the ditch in Australia are Core Schedule in the healthtech arena and Banqer in the edtech space. Banqer’s co-founder Kendall Flutey: an innovative approach to financial education can help address fiscal illiteracy. These companies have not only revolutionised their respective fields within New Zealand but have also expanded their reach to Australia, addressing critical issues in healthcare and education. Healthcare rostering revolution
Core Schedule, founded by New Zealand physician Stephen C. Pool, is a groundbreaking platform designed to streamline healthcare rostering. Advertisement
The platform’s mission is simple yet profound. “At Core Schedule, we believe in the power of having the right people, with the right skills, in the right place, at the right time. It’s not just about rostering; it’s about optimising healthcare delivery to ensure every patient receives the care they deserve,” says Pool. Core Schedule founder, New Zealand doctor Stephen C. Pool. The urgent need for the platform became evident during the COVID pandemic, as traditional scheduling methods proved inadequate to meet the crushing demands of healthcare staffing. Core Schedule’s solution was comprehensive, addressing intricate scheduling requirements across various units, including the Emergency Department at Royal Adelaide Hospital. The platform’s success in managing the hospital’s COVID response unit, which required scheduling for approximately 600 full-time equivalents (FTEs) within a tight timeframe, highlighted its adaptability and efficiency. “Every minute saved on rostering is a minute gained in caring for patients and saving lives,” says Pool, who created Core Schedule while working in New York City. Core Schedule’s advanced scheduling and workforce management solutions offer numerous benefits to healthcare professionals and patients alike, including improved work-life balance, shift swapping and easy time-off requests reduce burnout and reduced administrative burden for hospital staff. The benefits for patients include consistent care and enhanced quality of care and a reduction in medical errors. Core Schedule also addresses compliance regulations and staffing challenges through key features such as safety scans, audit trails, and customisable scheduling rules. “Our platform navigates the complexities of compliance regulations, shift rotations, and optimal staffing levels. Its comprehensive approach fosters efficiency, reduces errors, and enhances patient satisfaction,” says Pool. Transforming financial literacy education
In the education sector, meanwhile, Banqer has emerged as a leading force in financial literacy education. Co-founded by Kendall Flutey, Banqer was inspired to expand into the Australian market thanks to the vexed issue of financial illiteracy. “Financial illiteracy is a global problem, with numerous reports showing concern regarding Australians’ financial literacy,” says Flutey. “We believe that our innovative approach to financial education can help address this issue.”
Banqer’s platform offers a “financial playground” for students, providing real-world simulations that cover essential financial concepts. “Through real-world simulations, such as opening mock bank accounts, earning fictitious wages, paying expenses, enrolling in superannuation, managing risk with insurance, and investing, students gain hands-on experience with financial concepts, building financial capability and growing future financial wellbeing,” Flutey says. Adapting the platform to meet Australian needs presented challenges, such as aligning with local tax brackets, superannuation systems, and language differences. “Firstly, we had to ensure our platform was relevant to the Australian context. For example, in New Zealand, renting as a young adult is called ‘flatting’, which we quickly found out doesn’t mean anything to Australians,” says Flutey. “We also aligned Banqer High with the National Curriculum and various state curricula, covering a broader range of learning outcomes.”
Despite these challenges, Banqer’s impact has been significant, reaching over 125,000 students across all six Australian states since launching its primary school platform in 2019 and its secondary school platform in 2020. “We’ve observed material improvements in financial literacy and capability among students who use our platform,” Flutey says. “What’s exciting is that many students have reported taking real-life financial actions as a result of their learning.”
Future innovation and growth
Both Core Schedule and Banqer have ambitious plans for further innovation and growth in the Australian market. Core Schedule is focused on integrating the latest AI technologies to assist with roster generation and workforce optimisation. “We are working on integrating the latest AI technologies to assist with roster generation, teaching allocation assignments, and workforce optimization,” says Jasmin Kelly, Core Schedule’s vice president of sales and marketing. The company aims to enhance its product offerings and form strategic partnerships to increase visibility and credibility within the Australian market. “Our expansion strategy focuses on enhancing our product offerings, forging strategic partnerships, and ensuring top-notch customer support to meet the unique needs of the Australian market,” Kelly says. Meanwhile, Banqer is innovating with the release of a new version of Banqer High for senior secondary school students. This version is designed for use in pastoral care programs, preparing students for the financial world after school. “Students encounter a range of financial scenarios, including renting and furnishing a house, managing living costs, buying a car, and understanding the link between wellbeing and financial decisions,” Flutey says.

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Collaboration aims to empower New Zealand's youth
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The Insurance & Financial Services Ombudsman Scheme ( IFSO Scheme) is embarking on a collaborative effort with Banqer, a financial education technology company. The collaboration aims to foster financial literacy and insurance awareness among the nation's younger population. Banqer, known for its interactive education platforms, has made significant strides in financial education across New Zealand, educating over 300,000 primary and secondary school students. Promoting financial literacy
The partnership aims to expand young New Zealanders' comprehension of insurance and financial services, particularly focusing on addressing and resolving related issues. The IFSO Scheme, which plays a crucial role in the resolution of insurance and financial services complaints, offers its services free of charge and operates on principles of independence and fairness. A key part of its mission is to enhance consumer awareness about its services, with a special focus on the younger demographic. “Ensuring young people have the skills to navigate issues they will come across in the real world is a vital part of financial education,” said Insurance & Financial Services Ombudsman Karen Stevens . “While young people are not usually consumers of many financial services yet, they will almost certainly be consumers of them at some point in their lives – insurance is likely to start when they first leave home and need contents or vehicle insurance. It is important that they know about independent complaint resolution services so if things go wrong in future, they'll know how to get help.”
The initiative also has a broader impact, with Banqer's educational programs indirectly benefiting students' families by spreading financial literacy to parents, caregivers, and extended family members, thereby widening the reach of the IFSO Scheme's services. Kendall Flutey, co-CEO of Banqer and a member of the IFSO Scheme Commission, expressed excitement over the partnership, highlighting its potential to enhance financial literacy and raise awareness about the support systems in place for current and future consumers. “This collaboration enhances rangatahi financial literacy outcomes by building awareness of independent complaint resolution services. It's critical that consumers (and future consumers) know the support available to them and can navigate it with confidence. I'm proud that together, we're ensuring that the next generation is prepared to face the complexities of our financial world,” she said. Both Stevens and Flutey underscored the importance of pre-emptively equipping youth with relevant skills and knowledge. Acknowledging the reality that some students are already navigating insurance matters, they advocate for increased awareness and education on these topics. “Some students are already having to grapple with things like car insurance while they're at school, so it's important they know what to look out for and what they can do if things go wrong,” Stevens said. “Banqer offers an easy, engaging, and effective way for rangatahi throughout Aotearoa to get the financial education they deserve. We're delighted to be one of their community partners this year.”
In other news, the IFSO Scheme recently emphasised the importance of honesty in insurance claims following an incident linked to the Auckland floods in 2023. Related Stories

IFSO Scheme partners with financial education tech provider Banqer

Wednesday, 2 November, 2022 - 11:18
Five of Aotearoa’s rising women-led businesses are set to join the ranks of successful Ventures who have benefited from access to Coralus’ extensive global network, and will receive interest-free five-year loans, business mentoring, resourcing and support from hundreds of Coralus community members. Coralus, formerly known as SheEO, has announced its 2022 Ventures today, with Theresa Gattung, who brought the global community to Aotearoa in 2017, acknowledging the ‘radical generosity’ once again shown by hundreds of Kiwi activators, despite many of them still emerging from the shadow of the pandemic themselves. "Coralus Aotearoa NZ has raised $1.55 million since its launch in 2017," she notes. "Since its inception, the network has gone from strength to strength, supporting women-led Coralus Ventures to be successful on their own terms". Coralus is delighted to announce the selected Ventures for 2022 are:
Again Again Ltd - based in Tauranga and started by Nada Piatek, this open B2C platform manages reusable, returnable packaging in the circular economy and connects all the players in the marketplace. Banqer Limited - a Christchurch-based financial education company founded by Kendall Flutey that delivers simulative platforms to prepare the next generation for their financial future. They make it easy for schools to deliver quality, engaging, effective financial education that breaks the cycle of financial illiteracy, giving all children the right to a standardised financial education, regardless of their background. Chooice - Chooice, founded by Sarah Colcord, sprang to life in March 2020 during New Zealand’s first national lockdown. It has become a global online marketplace and New Zealand’s biggest online community of Kiwi creators, ranging from small businesses to hobbyists and side hustlers. Kitcal - Kitcal, founded by Julie Caldwell, has developed and now sells a customised touch-screen tablet for non-tech-savvy seniors, with the aim of bringing generations together through digital connection. Te Whenua Group - a culturally appropriate platform, based in Levin and founded by Kushla Okano, that connects MÄori landowners with aspiring home owners, micro-lenders and their energy-independent, net-zero tiny houses. This Venture is integral to uplifting the dignity and humanity of so many women who have been impacted by homelessness and its effects, including the loss of their children. These businesses join the ranks of previous successful Ventures, such as Chia Sisters, The Better Packaging Company, Nisa, Kiri Nathan and Supie. Coralus founder, Vicki Saunders, observes that all five Ventures are linked by themes of connectedness, technology and sustainability: values which closely align with those of Coralus itself. "The entrepreneurs who lead these Ventures benefit not just from the financial support offered, but also from the networking, professional development and business advice opportunities that are the hallmark of a community of business leaders and innovators that is founded on relationships and acts of radical generosity as opposed to transactions." In 2022, SheEO rebranded to Coralus to better reflect the community and its trajectory - one that is ever evolving, transforming and regenerating. In a somewhat unorthodox process, the new name was co-created by the community itself throughout a six-week process. All articles and comments on Voxy.co.nz have been submitted by our community of users. Please notify us if you believe an item on this site breaches our community guidelines .

Connectedness, sustainability and technology link Coralus’ 2022 New Zealand Ventures

The Financial Services Council [FSC] has today launched an exciting new competition for New Zealand school students. The ‘Why Does Money Matter?’ competition asks students around the country to explain why money matters to them in a three-minute video. "We want to foster conversations about money in schools, families and communities. The more we start talking about it, the better off we’ll all be," says FSC Chief Executive Richard Klipin. "We’re looking forward to getting some really creative videos about why money matters to people." Winning entries will receive $2,000 cash for their school, along with other prizes to be announced that will support financial literacy programmes. They will also have their entries screened at the FSC’s ReGenerations Conference in Auckland on 22-23 September. From today, teachers can register individual students, groups, classes or their entire school, with unlimited entries available. Entries close on 20 August and there will be winners across five categories based on year groups. To help teachers prepare for the competition, the FSC has linked up with the Sorted in Schools programme and financial education app Banqer to provide resources that will help them plan financial literacy-themed lessons and activities. These involve role-playing, practical budgeting activities and quizzes to help students discover their money personality. "This project is a great opportunity to collaborate with other organisations to work towards a common goal: lifting the financial wellbeing of all New Zealanders," said Klipin. "Raising awareness about the importance of financial literacy in schools is something that requires collaboration across the sector," concurs Kendall Flutey, Banqer CEO. "We’re passionate about working closely with industry leading organisations to ensure all of our content is up to date and relevant. This empowers Banqer students to develop genuinely practical skills for the real world." "Money will certainly matter in our students’ futures, so it’s great to be a part of this initiative from the FSC," says Sorted’s Tom Hartmann. "As always, it’s not about who has the most, but rather who can use their money best. That’s how money becomes a vehicle to achieve our life goals and dial up wellbeing." The top entries are to be decided by a high-powered judging panel consisting of: Kendall Flutey, Banqer CEO and 2019 Young New Zealander of the Year; Alexia Hilbertidou, Founder and CEO, GirlBoss New Zealand; Genevieve Mora, Co-Founder, Voices of Hope; Sorted’s Managing Editor Tom Hartmann; and Tracey Cross, Partner, DLA Piper. There’s no requirement that entries be ‘high-tech’ productions with entries being judged on their message, accuracy, passion, story, engagement and independent thought. "What we’re looking for is a thoughtful story around why money matters - something creative," says judge Tracey Cross. All articles and comments on Voxy.co.nz have been submitted by our community of users. Please notify us if you believe an item on this site breaches our community guidelines .

'Why Does Money Matter?' FSC launches school video competition

The Insurance Council of New Zealand works on the financial aspects of insurance for New Zealanders by providing information and support in the insurance sector. The organization offers services including education on insurance, help with claims, and representation for the insurance industry. It serves individuals and businesses looking for insurance coverage and assistance during unforeseen circumstances. It was founded in 1895 and is based in Wellington, New Zealand.

Insurance Council of New Zealand

Banqer , Simon Brown , explains , `` Our partnership with Insurance Council of New Zealand ensures that Banqer 's insurance education content is well informed and consistent with industry standards .

ICNZ and Banqer partner to empower young Kiwis - ICNZ

Biz Plan Competition

Banqer is a financial education platform that operates within the educational technology sector. The company provides tools designed to teach primary and secondary school students about various aspects of finance, including income, expenses, banking, tax, budgeting, and investments. Banqer serves the education sector, offering products that integrate into school curricula to teach students about finance. It is based in Wellington, New Zealand.

Date	Round	Amount	Investors	Valuation Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.	Revenue	Sources
2/20/2015	Biz Plan Competition	$0.01M	Webstock	$XXM	0 FY undefined	1
	Other Investors		Subscribe to see more	$XXM	0 FY undefined	10

Date	2/20/2015
Round	Biz Plan Competition	Other Investors
Amount	$0.01M
Investors	Webstock	Subscribe to see more
Valuation	$XXM	$XXM
Revenue	0 FY undefined	0 FY undefined
Sources	1	10

First funding	Last Funding	Investor	Rounds	Board Seats	Type	Location
2/20/2015	2/20/2015	Webstock	1 Biz Plan Competition		Other	New Zealand
		NZ Growth Capital Partners	Subscribe to see more		Venture Capital	New Zealand

First funding	2/20/2015
Last Funding	2/20/2015
Investor	Webstock	NZ Growth Capital Partners
Rounds	1 Biz Plan Competition	Subscribe to see more
Board Seats
Type	Other	Venture Capital
Location	New Zealand	New Zealand

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