Our youth and family banking solution provides teenagers with an allowance management tool helping them manage, save and make money in a smart way, while ensuring a safe environment.
RocketMoney is the digital platform for “kitchen table conversations”. Parents can easily manage allowances while youngsters can learn the basics of financial consciousness in a playful, practice-oriented yet controlled way.
The digitalisation of pocket money is an important step towards financial consciousness. Our solution enables parents to transfer pocket money to their children with just one tap, while providing trackability and a transparent transaction history at the same time. Key financial insights are also visualised for better understanding.
The goal-based savings functionality facilitates the joint sparing of families, therefore they can save money up for a specific savings goal, add details and contributors, and top-up or withdraw money.
Visualisation is key to communicate with youngsters. This is the reason why we create amazing graphics for every important financial insight. Users can follow their savings progress on an interactive EduMap and better understand the context and consequences of their actions.
Research shows that owning a bank account does not make youngsters financially conscious, however, earning their own money does. By integrating beyond banking functions, the application offers a dynamic newsfeed with educational content including Instagram-style job posts to engage Gen Z users, resulting in long-term app usage and customer acquisition.
Teenagers tend to develop loyalty towards companies that offer something more and different than their competitors, therefore RocketMoney enhances customer acquisition and retention.
The solution also incorporates cross-selling opportunities by integrating different offers into the app and customer churn rates can be lowered.
RocketMoney is part of a youth banking value proposition we offer together with GoSave, a California-based fintech startup. Together, we have a comprehensive youth banking proposition and cover the whole youth banking lifecycle by serving the 5-12 years old with a next generation piggy bank and the 12-18 years old with an allowance management application. Our vision is to provide financial innovators with the right solutions to increase financial literacy.
Consumers are turning towards alternative banking solutions mainly because traditional banks aren’t keeping up with their needs. It’s time to keep ahead of your competition with us!
Our youth and family banking solution provides teenagers with an allowance management tool helping them manage, save and make money in a smart way, while ensuring a safe environment.
