ANZ has expanded its MoneyMinded financial education program to include a new module aimed at building digital confidence among vulnerable communities. This addition comes as the program reaches a milestone, having assisted over one million individuals since its launch in 2002. According to ANZ, nine out of ten participants who complete a MoneyMinded workshop report improved ability to handle financial issues.
The Digital Confidence module is the first of its kind, designed to enhance users' skills with digital devices and improve their engagement with internet and phone banking. This initiative follows the introduction of a Scams Awareness module in 2024 and aligns with ANZ’s commitment to enhancing Australians' financial wellbeing.
Since its inception, MoneyMinded has provided flexible education for adults looking to improve their money management abilities. More than 5,000 community professionals are certified as MoneyMinded coaches, assisting over one million people across Australia, New Zealand, and the Asia-Pacific region.
Janet Liu, ANZ's Head of Social Impact and Community Partnerships, emphasized the importance of this new module for vulnerable and older populations who may have lower levels of digital engagement. "We understand that digital banking can be intimidating and overwhelming for some of our customers, but it doesn't have to be. Our aim with this module is to empower the community to use digital devices safely and to realise the opportunities that come with digital access," Liu stated.
Liu added that increased knowledge leads to greater choice in banking options. "MoneyMinded was created to help people make informed decisions and improve their financial wellbeing. This module is a natural extension of that goal," she said.
The Digital Confidence module covers basic device usage and online safety through 15 topics, six prompt cards, two animations, and various handouts. The Smith Family will provide training for current MoneyMinded coaches as they begin using these resources with clients in the coming months.
Doug Taylor, CEO of The Smith Family, expressed enthusiasm about collaborating with ANZ on this initiative: "We are thrilled ANZ is taking steps to work with community partners to improve digital literacy and confidence in the community. We recognise that technological advancements can disproportionately affect those already facing financial challenges, and the Digital Confidence module will directly support those who need it most."
MoneyMinded remains Australia's largest financial education program for adults seeking enhanced money management skills.