Apr 16
“We all know that digital skills are central to economic efficiency and innovation” Lord Blackwell, Chairman, Lloyds Banking Group

Can Digital Skills help financial stability? Lloyds Consumer Digital Index report

Here at UpSkill, we’re struggling to think of things we love more than stats. Last week we attended the launch of the 2nd Lloyds Bank UK Consumer Digital Index, an annual report packed full of stats and insights into current UK levels of digital skills and digital services uptake, particularly in the financial sector, and we’d love to share our thoughts with you.

As leading digital skills trainers working with the likes of Google, The British Library and Lloyds to deliver initiatives aimed at increasing the number of people with digital skills in the UK, we’re excited to learn about the latest opportunities and barriers, and where we can make a difference.

The report leaves no room for doubt as to the link between digital skills and financial capability, with digitally capable people seen to save more than twice as much than those who lack skills. As Lord Blackwell said in his opening speech: “digital leads to better control and management of finances through fast, mobile access”. We’d take that further, to say that financial capability is just one chapter of the story. Through our work with clients across the country, we’re seeing how digital skills filter through many more sectors such as automotive, education and more, as technologies and industries evolve and a need for skills to succeed in these new environments arises.

Lloyds Digital Skills stats

One of the highlight stats of the report is an increase of 1.1million people with Basic Digital Skills* on last year’s figures, which is a testament to the commitment of organisations, large and small, which create and deliver the training that people need to improve their lives and their businesses. At UpSkill Digital, we’ve trained over 39,510 individuals in 343 sessions across 121 locations, and counting!

That’s a super positive rate of growth, but you might ask…

…What are basic digital skills?

The talented folks at Doteveryone and their partners joined efforts to create a Basic Digital Skills framework to measure and track performance and developments of digital skills over time. As it stands, Basic Digital Skills cover: Managing Information (using search and browsing websites from the information you need), Communicating (using tools and hardware to communicate with friends, colleague and the public), Transacting (shopping online), Problem Solving and Creating (vetting sources of information and solving problems with the help of online information) – all of which are covered, and then some, in our range of training workshops!

How we can help

Whilst a decreasing number, 9% of the UK population still do not use the internet, and a staggering 77% of those aren’t aware of available digital support. And here’s where we come into the picture!

Through our partnerships with Google delivering the Digital Garage and our mobile training capabilities for businesses and individuals, we are truly living the nomadic lifestyle which is characteristic of the digital day and age! Wherever you’re based and whatever your current level of digital skills is, we deliver fun, hands-on practical training which will leave you and your team in a great place to make the most out of digital.

As the report recommendations propose, we agree that direct dialogue is the best way to increase the pace of change in digital skills, through face-to-face guidance wherever possible. Your needs and challenges regarding digital skills are unique, and so is our training. So whether your staff needs a digital skills refresh or you want to see how mastering digital can change your life or your business for the better, or if you know someone who might benefit from tailored training, don’t hesitate to get in touch!

You can download the full Consumer Digital Index report and appendix.

*Source: Lloyds Bank Consumer Digital Index 2017

About The Author

Leave a reply

Your email address will not be published. Required fields are marked *