How is the financial system changing in a digital era?
I can explain how banking has changed over time and what effect these changes are having on society.
How is the financial system changing in a digital era?
I can explain how banking has changed over time and what effect these changes are having on society.
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Lesson details
Key learning points
- Banking in the UK has evolved from traditional branch services to widespread online banking.
- Technological advances such as ATMs, debit cards and mobile apps have transformed financial management.
- This shift has increased risks, notably online fraud and challenges linked to an ageing population.
- Online banking has improved accessibility for some people but also deepened the digital divide.
- Government initiatives now focus on regulation, education and community support to address these issues.
Keywords
Online banking - a secure place to store, manage and access money, allowing deposits, withdrawals, transfers and payments through the internet
Online fraud - when someone acts, lies or breaks trust to gain money or cause a loss through the internet
Common misconception
Older people cannot use online banking at all.
With the right support and training, many older people have adapted very well to online banking. It is prejudiced to assume all older people struggle.
To help you plan your year 11 citizenship lesson on: How is the financial system changing in a digital era?, download all teaching resources for free and adapt to suit your pupils' needs...
To help you plan your year 11 citizenship lesson on: How is the financial system changing in a digital era?, download all teaching resources for free and adapt to suit your pupils' needs.
The starter quiz will activate and check your pupils' prior knowledge, with versions available both with and without answers in PDF format.
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The assessment exit quiz will test your pupils' understanding of the key learning points.
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Explore more key stage 4 citizenship lessons from the How do we look after an ageing population? unit, dive into the full secondary citizenship curriculum, or learn more about lesson planning.
Equipment
Content guidance
- Depiction or discussion of discriminatory behaviour
- Depiction or discussion of sensitive content
Supervision
Adult supervision recommended
Licence
Lesson video
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Starter quiz
6 Questions
loan
savings
budget
Exit quiz
6 Questions
a secure place to manage money through the internet
a machine first introduced in the 1960s to withdraw cash
a criminal act to steal money via the internet