Bank of America has announced a partnership with Khan Academy, a non-profit with a mission to offer a free online education to anyone, anywhere. The partnership is focused on providing information and tutorials that will help customers and non-customers alike to develop better money habits and improve their financial literacy.
From: Contagious Magazine
Khan Academy has quickly established a reputation for delivering bite-sized video tutorials on a wide range of subjects to students across the US and beyond. The organisation’s step-by-step lessons are hosted on YouTube and allow students to progress at their own pace, building competence with online tests and an informal, pressure-free approach to education.
The partnership with Bank of America will be based around a new website, BetterMoneyHabits.com, which will include content from both parties designed to teach the basics of personal finance to an audience with varying levels of knowledge. Khan Academy will be producing content in its familiar, no jargon style, and will remain firmly neutral, concentrating on giving users the skills they need to understand the products and mechanisms used throughout the banking industry.
‘We have heard clearly from our customers that they want to build better money habits, but often lack straightforward and accessible guidance,’ said Andrew Plepler, corporate social responsibility and consumer policy executive at Bank of America. ‘We approached Khan Academy because of their proven ability to translate complex topics into simple, self-paced, on-demand learning materials.’
Why I’m curious:
Kahn academy is an amazing online education source and I believe the combination of financial education in an open-to-all format will be a great move for B of A. One of the largest pieces of feedback that banks get from customers is the opportunity to provide more materials so they can become more knowledgable about a somewhat difficult subject to learn about. This idea solves a customer need and in a very cutting edge way.