New-age fintech: A child’s play?

New-age neo-banks and fintechs are not only helping kids track their pocket money and expenditures, but are also teaching them important financial skills.

Wednesday February 10, 2021 , 4 min Read

Money — easy to spend, hard to earn, harder to save, and even harder to grow. How many of us have often lamented about how easy life would have been if we knew how to save and invest money growing up?

More interesting than knowing “mitochondria is the powerhouse of the cell”, for sure!

Well, turns out that fintechs nowadays are stepping in to educate children about digital financial tools. New-age neo-banks and fintech apps, specifically targeting children below the age of 18 years, are not only helping kids track their pocket money and expenditures, but are also teaching them important financial skills, such as saving and compound interest rates.

With children under the age of 18 constituting nearly 41 percent of India’s total population, this new and large market contains untapped potential, and is fast becoming a critical focus area for the ecosystem.

digital payments — Image Source: ShutterStock

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