iCAVE Use Case: IFEC FinEd Hub

Hong Kong’s first digital investor and financial education experiential learning centre,  was launched the IFEC on March 13, 2024. This user case will explore the background, challenges, solutions, and results of the experience centre.

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Client Background

The Investor and Financial Education Council (IFEC) is dedicated to promoting investor and financial education among Hong Kong citizens. The newly launched IFEC FinEd Hub, located at The Mills in Tsuen Wan, aims to provide an immersive learning experience through digitalization and interactive games, covering topics such as money management, financial fraud prevention, and investment basics.

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Challenges

IFEC faced several key challenges:

1.Enhancing Public Financial Awareness and Capability: Despite Hong Kong ranking first in digital financial literacy, many citizens still lack systematic financial knowledge.

2.Attracting Participants from Diverse Age Groups and Backgrounds: Designing educational content that appeals to various demographics to make financial education more attractive and practical.

3.Achieving Interaction and Engagement: Innovative methods beyond traditional education were needed to enhance learning effectiveness and participation.

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Solutions

IFEC addressed these challenges through iCAVE:

1.Immersive Experience: IF Interactive provided technical, software, and hardware support to IFEC, creating an immersive virtual reality (VR) interactive space with VR Cave technology. The system is based on multi-channel seamless projection technology and hybrid interactive technology, turning all walls and floors into touch screens to enhance interactivity.

2.Diverse Interactive Games: Various interactive games were designed, such as "Financial Farm," "Money Universe Legends," and "A Day with Grandpa and Grandma Money," covering a wide range of knowledge from money management to financial fraud prevention.

3.Customized Activities for Different Groups: The experience centre offers tailored visit and learning activities for different groups, such as schools, non-government organizations (NGOs), and families, ensuring that citizens of all ages and backgrounds benefit.

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Results

Since its opening, the experience centre has achieved significant results:

1.Enhanced Financial Literacy: The OECD/INFE survey shows that Hong Kong excels in digital financial literacy, and the opening of the experience centre has further strengthened this advantage.

2.Widespread Participation and Positive Feedback: The centre has hosted numerous visitors from schools, community centres, and families, with participants generally finding the learning content engaging and practical.

3.Increased Social Attention: The successful operation of the experience centre has garnered widespread social attention, becoming a key force in promoting investor and financial education in Hong Kong.

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Conclusion

IFEC FinEd Hub successfully integrates immervise VR technology with financial education, providing a new learning platform for Hong Kong citizens. Moving forward, the centre will continue to develop, offering more innovative activities to further enhance citizens' financial knowledge and capabilities.

We welcome you to experience the IFEC FinEd Hub and embark on a new journey of digital financial learning. For more information or to arrange a visit, please visit

https://www.ifec.org.hk/web/common/static/financial-education-hub/tc/index.html

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