AU-01 · full course

Financial Services and Fintech

Understand how money products work, then design a small digital money tool on paper and test it with practice data. Throughout, you check the tool for fairness, privacy and fraud risk, and you learn when a licensed adviser must be involved.

about this course

What you will be able to do

L4 Practitioner8 modules · 140 h guidedPractice 70% · Share 20% · Study 10%

Understand Explain how payments, savings and credit work, including timing and fees.
Apply Build and test a simple money tool using practice data.
Analyse Analyse cost, risk and fairness for different kinds of users.
Create Create a clear customer guide in plain words.

Task, condition and standard

Task

Design and test a simple money tool (a budget, a payment reminder or a savings tracker) using practice data only. Finish with a needs statement, a prototype, a fault log, a fee table and a privacy and fairness review checked by a licensed adviser.

Condition

About 140 hours over 3 to 6 months. You need a computer, a free spreadsheet program, practice data only (never real accounts), a licensed adviser for the review step, a mentor and a peer circle.

Standard

Needs statement based on five interviews; flow design with three screens or sheets; practice-data test of ten cases with a fault log; fee and fairness table; privacy note with adviser comment; at least 70% on the final check.

Learning only. Use practice data. Do not handle real accounts, lend, advise or move money unless licensed and permitted. Check with your local authority about licensing and consumer rules before any real use.

Requirements: none. Who it is for: learners 16 and over, workers changing field, small-business starters, teams. Currency is shown on every number.

lesson by lesson

8 modules with worked examples (140 h guided)

Module 1 How money moves 12 hUnderstand

Every payment travels through several parties before it arrives, and each step adds time, cost and a chance of error. Knowing the path helps you explain delays to a customer and design tools that set honest expectations.

A payment path has four parts: the payer, the payer bank, a clearing network and the payee bank.
Instant payment types can arrive in seconds at any hour, but batch bank transfers use cut-off times, so a batch transfer sent after the cut-off is processed on the next business day.
Weekends and public holidays do not count as business days, which adds one or more days to the wait.
A fee can be charged to the payer, the payee or split between them, so always ask who pays.
Common errors are wrong account numbers, duplicate payments and mismatched references, and each needs a clear way to be reported and fixed.

Worked example. A batch bank transfer (not an instant payment) of A$250 is sent at 4:45 pm on Friday and the bank cut-off is 3:30 pm. It is processed on Monday, so the payee sees the money on Monday, 3 days after the customer pressed send. If an A$2 fee is charged to the payer, the payer is debited A$252 and the payee receives A$250.

Activity. Draw a labelled payment path for one transfer, showing each party, the time it takes at each step, any fee, and one place where an error could happen.

Standard to meet. Draw a path with at least four labelled steps, one cut-off time, one fee and one error point, so that a reader can follow it without help.

Module 2 Savings, credit and interest 16 hUnderstand

Interest is the price of using money over time. Savers earn it and borrowers pay it, and comparing offers fairly means using the same time period and the same method every time.

Simple interest is calculated on the starting amount only: interest = principal x rate x years.
Compound interest is calculated on the balance including past interest, so it grows faster each year.
The cost of credit includes interest, fees and any penalty for late payment, not just the headline rate.
To compare two offers, convert both to the same period, such as the total paid over 12 months.
A common mistake is to compare a monthly rate with an annual rate without converting one of them.

Worked example. Save A$1,000 at 5% for 2 years. Simple interest is 1,000 x 0.05 x 2 = A$100, so the total is A$1,100. Compound interest is 1,000 x 1.05 x 1.05 = A$1,102.50, so compounding adds A$2.50 more over two years.

Activity. Calculate simple and compound interest for three cases of your own, with different amounts, rates and years, and show the working for each.

Standard to meet. Calculate all three cases correct to the cent, written with the currency sign and the number of years.

Module 3 Know the customer 16 hAnalyse

A money tool only helps if it fits the way real people earn and spend. You start by listening, not by building, so you design for a real problem instead of a guess.

Interview five people who might use the tool and ask them to describe the last time money felt hard to manage.
Write down each answer in the speaker words, then group similar answers under headings.
List each person goals and fears, such as wanting to avoid overdraft fees or fearing hidden charges.
Count how many of the five share each problem and pick the one that appears most often.
Write one needs statement in the form: this person needs a way to do this, so that this result happens.

Worked example. Of five interviewed casual workers, four say their pay changes each week and they cannot plan bills. The needs statement reads: casual workers need a weekly budget that updates when pay changes, so that they can set aside rent before spending.

Activity. Write a one-paragraph needs statement based on your five interviews, and attach a table showing how many people raised each problem.

Standard to meet. Name a specific user, a specific problem and a specific result in the statement, and show a count out of five for each problem in the table.

Module 4 Design the tool 20 hCreate

A good money tool is simple, shows costs early and lets people change their mind. You build it on paper or in a spreadsheet first, because mistakes are cheap to fix there.

Limit the tool to three screens or sheets, such as input, summary and help.
Use plain words and avoid terms like amortisation unless you explain them in one short line.
Show every fee and the total cost before the user confirms an action.
Include an undo or cancel step and a help line that says where to get human support.
Test the draft with two people who have not seen it and note where they hesitate or ask questions.

Worked example. A savings reminder tool shows a screen that reads: this reminder costs A$0 to set up and a late-payment alert costs nothing. The confirm button stays disabled until the user ticks that they have read the fee line, and a cancel link sits beside it.

Activity. Build a prototype of your tool with three screens or sheets, including a fee line before confirmation and a cancel option.

Standard to meet. Show that a tester completes the main task without help, and that the fee is visible before the confirm step.

Module 5 Test with practice data 24 hApply

Testing finds faults before a user does. You use made-up data only, so no real person or account is ever put at risk.

Create a practice data set of at least ten made-up people with names, balances and dates that do not match anyone real.
Write ten test cases that include normal use, empty entries, very large amounts and a negative number.
Run each case, record what you expected and what happened, and mark pass or fail.
Log each fault with a short description, the steps to repeat it and how serious it is.
Fix the most serious fault, rerun the same case and record that it now passes.

Worked example. Test case 7 enters A$19.99 split between three people. The tool shows A$6.66 each, which totals A$19.98, so one cent is lost. The fault is logged as a rounding error and fixed by giving the extra cent to the first person.

Activity. Run ten test cases on your prototype with practice data and produce a fault log listing each fault, its severity and its fix.

Standard to meet. Log ten cases with expected and actual results, find at least one fault, and fix and retest one fault.

Module 6 Rules, privacy and fraud 20 hApply

Money tools are regulated, and rules differ between places and between types of service. Your job is to spot where rules may apply, collect as little data as possible and plan for fraud, then ask a qualified person to confirm.

List what the tool does, such as holding money, giving advice or lending, because each may need a licence.
Check with your local authority and a licensed adviser before any real use, since rules and penalties vary.
Collect only the data the tool needs and delete it when it is no longer needed.
Add basic fraud checks such as a second confirmation for large or unusual actions.
Write a one-page privacy note saying what you collect, why, who sees it and how long you keep it.

Worked example. A tool that sends payment reminders needs only a name, a due date and an amount. It does not need a birth date. The design adds a two-step check, so any change to an amount above A$1,000 needs a code sent to the user before it is saved.

Activity. Write a one-page note covering licence questions, data collected, fraud checks and the adviser comment on each.

Standard to meet. List at least three data items with reasons and two fraud checks in the note, and record a written comment from a licensed adviser.

Module 7 Fairness and cost 16 hEvaluate

A tool can follow every rule and still treat some users unfairly. Evaluating means asking who gains, who pays and whether people with less money pay more.

Build a fee table that lists every charge, when it applies and the maximum a user could pay in a month.
Compare the monthly cost for a user with A$500 and a user with A$5,000 to see who pays the larger share.
Check whether penalties such as late fees fall hardest on people with irregular income.
Consider a cap on fees so a single mistake does not cost more than the benefit of the tool.
Write a plain summary a user could read in under one minute.

Worked example. A late fee of A$10 is 2% of a A$500 balance but only 0.2% of a A$5,000 balance, so the fee hurts the smaller balance ten times more. Capping late fees at A$10 per month and waiving the first one protects low-income users.

Activity. Build a fee table and write a short summary of the effect on low-income users with one suggested change.

Standard to meet. List every fee with a monthly maximum in the table, and name a clear group and a clear change in the summary.

Module 8 Guide and review 16 hCreate

A customer guide turns your work into something real people can use. The review shows what you learned and what you would change next.

Write a one-page guide with a short title, three to five numbered steps and one example with real numbers.
Include a section called what it costs and a section called where to get help.
Read the guide aloud to a friend and change any word they do not understand.
List three lessons from the course, each tied to one thing you did.
Write next steps with a date, an owner and a measure for each.

Worked example. The guide has a title: how to track weekly savings. Step 2 reads: enter this week savings, for example A$40, and the sheet adds it to the total. A fee section says there are no charges and a help line names a free money advice service in your area.

Activity. Present your one-page guide and your three lessons and next steps to your mentor or peer circle.

Standard to meet. Include steps, a worked example, a cost section and a help section in the guide, and obtain written feedback from the reviewer.

assessment

How you are checked

Evidence: your records, numbers and reflections. Two peers and one mentor mark it with this rubric. Pass: no criterion at "Not yet" and at least 70% on the check.

Marking rubric
Criterion	Not yet	Meets	Exceeds
Evidence quality	Claims without records	Records for most claims	Every claim linked to a dated record
Numbers and units	Missing units or currency	Correct, units shown	Correct, with a check calculation
Rules and safety	Rules ignored	Rules named and followed	Rules checked with the local authority, note kept
User focus	No real user	One real user	Several users, changes made from feedback
Reflection	No lessons written	Three lessons written	Lessons turned into a changed plan with dates

Ten-question check, with model answers

Q1. Why can a transfer take longer than the customer expects?

Model answer: Batch bank transfers use cut-off times and checks, and weekends and holidays do not count as business days, so a late request waits for the next processing run (instant payment types are faster). (Covered in module 1: How money moves. To pass that module: Draw a path with at least four labelled steps, one cut-off time, one fee and one error point, so that a reader can follow it without help.)

Q2. What is the compound total on A$1,000 at 5% for 2 years, and how does it differ from simple interest?

Model answer: The compound total is A$1,102.50, which is A$2.50 higher than the simple total of A$1,100 because the second year earns interest on the first year interest. (Covered in module 2: Savings, credit and interest. To pass that module: Calculate all three cases correct to the cent, written with the currency sign and the number of years.)

Q3. Why interview people before designing the tool?

Model answer: Tools only work if they fit real money habits, and interviews show the actual problem instead of an assumption. (Covered in module 3: Know the customer. To pass that module: Name a specific user, a specific problem and a specific result in the statement, and show a count out of five for each problem in the table.)

Q4. Why must fees appear before the user confirms an action?

Model answer: The user can only give fair consent if they know the full cost beforehand, and hiding it causes complaints and harm. (Covered in module 4: Design the tool. To pass that module: Show that a tester completes the main task without help, and that the fee is visible before the confirm step.)

Q5. Why use practice data and never real money or accounts?

Model answer: Real data can cause harm and privacy breaches, and practice data lets you break things safely. (Covered in module 5: Test with practice data. To pass that module: Log ten cases with expected and actual results, find at least one fault, and fix and retest one fault.)

Q6. Why involve a licensed adviser before real use?

Model answer: Rules and licences vary by place and by service, and breaking them can bring penalties for you and harm for users. (Covered in module 6: Rules, privacy and fraud. To pass that module: List at least three data items with reasons and two fraud checks in the note, and record a written comment from a licensed adviser.)

Q7. Name one check you can use to test fairness.

Model answer: Compare the cost as a share of balance for a low-income user and a higher-income user, and check whether penalties hit irregular earners hardest. (Covered in module 7: Fairness and cost. To pass that module: List every fee with a monthly maximum in the table, and name a clear group and a clear change in the summary.)

Q8. What should a good customer guide contain?

Model answer: Clear steps with an example, the full cost, and where to get help. (Covered in module 8: Guide and review. To pass that module: Include steps, a worked example, a cost section and a help section in the guide, and obtain written feedback from the reviewer.)

Q9. What is the task of this course, in one sentence?

Model answer: Design and test a simple money tool (a budget, a payment reminder or a savings tracker) using practice data only. Finish with a needs statement, a prototype, a fault log, a fee table and a privacy and fairness review checked by a licensed adviser. (Covered in: Task, condition and standard, near the top of this page.)

Q10. What standard must your final evidence meet?

Model answer: Needs statement based on five interviews; flow design with three screens or sheets; practice-data test of ten cases with a fault log; fee and fairness table; privacy note with adviser comment; at least 70% on the final check. (Covered in: Task, condition and standard, near the top of this page.)

where next

Ladder L1 to L7, slide by slide with notes

Slide 1: L1 Basic, First words, tools and safety. Speaker note: Learner can say what Financial Services and Fintech is about and name the safety rule. Use module 1, How money moves, as the first short unit (about 2 to 6 hours). Say this rule aloud: Learning only. Use practice data. Do not handle real accounts, lend, advise or move money unless licensed and permitted. Check with your local authority about licensing and consumer rules before any real use. No record is needed at this level.
Slide 2: L2 Awareness, What the field is and who it serves. Speaker note: Learner explains the idea in plain words: Explain how payments, savings and credit work, including timing and fees. Shared with schools and community groups. Note for the guide: ask one learner to explain it to a neighbour and check the words are right.
Slide 3: L3 Foundation, Guided tasks with a checklist. Speaker note: Learner does guided tasks from the first three modules (How money moves; Savings, credit and interest; Know the customer) with a checklist. Evidence is a small set of dated records. Note for the guide: sit beside the learner for the first record, then step back.
Slide 4: L4 Practitioner, Run the full task alone (this course). Speaker note: Task: Design and test a simple money tool (a budget, a payment reminder or a savings tracker) using practice data only. Finish with a needs statement, a prototype, a fault log, a fee table and a privacy and fairness review checked by a licensed adviser. Standard: Needs statement based on five interviews; flow design with three screens or sheets; practice-data test of ten cases with a fault log; fee and fairness table; privacy note with adviser comment; at least 70% on the final check. Note for the guide: a mentor reviews the records; two peers mark with the rubric above.
Slide 5: L5 Specialist, One narrow area to depth. Speaker note: Learner picks one area, for example Test with practice data (the longest module at 24 h), and goes deeper than this course asks. Learner then teaches a peer circle of three or four. Note for the guide: check the teaching, not only the work.
Slide 6: L6 Advanced, Lead a team and review evidence. Speaker note: Learner leads a small team or designs a service in this field and marks other people's evidence against the rubric. Roles this points to: Financial services assistant; Customer support analyst; Fintech operations assistant. Note for the guide: sample three records from the team and compare marks.
Slide 7: L7 Super expert, Set and audit the standard. Speaker note: Learner writes the method for Financial Services and Fintech as a short guide, audits other learners' evidence, and publishes worked examples back to learners. Note for the guide: worked examples keep currency and units on every number and are checked by a second expert.

Notes: credits stack and you can step in and out. This course is L4. Aligned with, not accredited by, national credit frameworks.

jobs this leads to

Where this takes you

Financial services assistant
Customer support analyst
Fintech operations assistant
Product tester

ten locations and global

Your place

Local custom changes rules, language, currency and who you practise with. Check each rule with your local authority before you act.

India (Bengaluru)

Language: English, Hindi, Kannada. Currency: INR. Data rule for what you publish: Digital Personal Data Protection Act 2023. Skills frame to cite: National Skills Qualifications Framework (NSQF) and the national credit framework.

Netherlands (Eindhoven area)

Language: Dutch, English. Currency: EUR. Data rule for what you publish: EU GDPR (Dutch: AVG), supervised by the Autoriteit Persoonsgegevens. Skills frame to cite: the Dutch qualification framework (NLQF) linked to the European Qualifications Framework.

UAE (Dubai and Abu Dhabi)

Language: Arabic, English. Currency: AED. Data rule for what you publish: Federal Decree-Law No. 45 of 2021 (personal data protection). Skills frame to cite: the emirate education and training regulators (for example KHDA in Dubai) and the national qualifications framework.

Brazil (Sao Paulo)

Language: Portuguese (Spanish and English support). Currency: BRL. Data rule for what you publish: LGPD (Lei Geral de Protecao de Dados). Skills frame to cite: the national technical-education catalogue and the national S-system training bodies.

Canada (Toronto)

Language: English, French. Currency: CAD. Data rule for what you publish: PIPEDA, with provincial rules where they apply. Skills frame to cite: the provincial colleges framework and the national credential-recognition guidance.

United States

Language: English, Spanish. Currency: USD. Data rule for what you publish: state privacy laws (for example California), and COPPA for children under 13. Skills frame to cite: state and community-college credit systems.

Singapore

Language: English, Mandarin, Malay, Tamil. Currency: SGD. Data rule for what you publish: Personal Data Protection Act (PDPA). Skills frame to cite: the Singapore national skills frameworks and the national credit system.

Australia

Language: English. Currency: AUD. Data rule for what you publish: the Privacy Act 1988 and the Australian Privacy Principles. Skills frame to cite: the Australian Qualifications Framework (AQF) levels.

Hong Kong (Eastern Asia)

Language: Chinese (Cantonese, Mandarin), English. Currency: HKD. Data rule for what you publish: the Personal Data (Privacy) Ordinance. Skills frame to cite: the Hong Kong Qualifications Framework.

Georgia and Israel (Western Asia)

Language: Georgian, Hebrew, Arabic, English. Currency: GEL or ILS. Data rule for what you publish: the personal data law of the country where the learner lives. Skills frame to cite: the national qualifications framework of that country.

Cayman Islands (Caribbean)

Language: English. Currency: KYD. Data rule for what you publish: the Data Protection Act. Skills frame to cite: the local education and training framework.

Mexico

Language: Spanish, English. Currency: MXN. Data rule for what you publish: the federal law on personal data held by private parties. Skills frame to cite: the national competency certification system and the education ministry levels.

Draft

Draft flagship-depth course. Own wording from the planning booklet; no third-party text. Not live.