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18 Dec 2018

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European-wide student competition in finance powered by Kahoot!

40,000 students all over Europe competed in the first ever European Money Quiz to define the champion in personal finance. And guess what, the European Banking Federation chose Kahoot! as the platform for this awesome competition!

Does making 13-15 year olds passionate about finance sound tricky? Not if you come up with a fun, captivating and competitive way to spread that knowledge!

To help students across Europe crack the mystery of managing money, and do it in a fun, interactive way, the European Banking Federation (EBF) chose Kahoot! as a platform for running their first ever European Money Quiz earlier this year. Read this case study to learn how they engaged 40,000 students from 32 countries with topics around personal finance.

One of the core 21st century skills

According to the World Economic Forum, financial literacy is one of the six foundational literacies that are essential for developing 21st century skills. However, as OECD PISA survey 2017 revealed, one in four students in developed economies are not able to make simple decisions on everyday spending.

To boost awareness around financial literacy among young students, EBF launched European Money Week in 2014 with activities ranging from classroom sessions to seminars and conferences. Since then, they were constantly on the lookout for new ways engage students even more on the topic. And, in time for the fourth European Money Week, they came up with a solution – to turn it into a big game!

“The European Money Quiz is a very special project for us. It helps people to understand more about the need for better financial education to boost financial literacy. But just as important: the quiz is a fun way to learn and play”, said Wim Mijs, CEO of European Banking Federation.

This project helps people to understand more about the need for better financial education to boost financial literacy. But just as important: the quiz is a fun way to learn and play.

Wim Mijs, CEO of European Banking Federation

Running European Money Quiz on Kahoot!

According to the EBF financial education group, using a quiz format offered them a scalable, kid-friendly and simple way to run a competition for students all across Europe.

Stage 1: play practice quizzes to prepare

To help students prepare for the competition and let anyone interested in finance test their knowledge, EBF created a series of quizzes in different languages in cooperation with the Kahoot! team. In addition to personal finance, quizzes covered topics such as digital security, math, money and the European Union.

The word has spread, and now many teachers are now successfully using these kahoots when teaching personal finance.

Stage 2: national competitions with a live stream

Teams from schools in participating countries signed up for the European Money Quiz via their national banking associations, For the national finals, a quiz was streamed live into classrooms from a studio in Kahoot! headquarters and teams competed online by joining the kahoot from each country.

Not only was this an innovative approach towards spreading knowledge, but also gave kids participating in the competition a feeling of being connected: even though they were all located in different places, they were all playing together!

Stage 3: finals in Brussels

Finally, winning teams from 25 countries came head to head in Brussels to compete for the champion’s title in the ultimate kahoot. It was a tough competition! Two 14-year old students from Glogow, Poland, became the first ever winners of the European Money Quiz – well played! Watch this video from the event:

European Money Quiz 2018: Promoting financial literacy from European Banking Federation on Vimeo.

European Money Quiz in numbers

  • 190,000 plays for the online practice version of the European Money Quiz
  • 32 countries participating with a national final
  • 21 different languages for the same questions in the European final
  • 1,800 classrooms and 40,000 students across Europe participated in the competition
  • 50 finalists competing in the live European final
  • Countless motivated and inspired students with greater financial literacy

Gear up for European Money Quiz 2019!

The European Money Quiz will be back in 2019. National finals will be played throughout Europe during March, with particular focus on European Money Week, which starts Monday 25 March. Are you based in Europe and teaching 13-15 year old students? Reach out to the national banking association in your country to apply for the next European Money Quiz!

Looking for a solution to gamify an educational, business, cultural or sporting event? Learn more about how Kahoot! for businesses can help you!