Kids Bank - Banking app for your kids

  • The challenge

    Banking application for kids that they can start quickly and learn about money

    The Product Statement
    For children from 5 - 12 y/o, KidsBank is a mobile banking app to provide a simple and fun banking experience unlike other banking app , this product is focusing on younger people, with simpler processes but still a safe way for kids to learn about money.

    This app is an app designed to help young people learn about money by providing basic transaction like send, receive and saving. This will be a tool for parents to control and teaching kids to save money.

    The risk of making kid using a finance app

    They cannot control and plan for their finance.
    There is no real cash, so the kids may not aware of the amount of money they spend.
    Kid will not think carefully before making a transaction
    Their information may have a huge risk to be leaked because some of them do not aware of the privacy

    How to minimize the risk

    The biggest goal is to let kids understand the concept of banking activities, know what they can do with money, so
    The app should not use a real currency, some virtual currency with some kind of gamificate concept will be better.
    Let them learn from mistakes, kid will make wrong actions, but it would be okay if parents is the person to control all the things behind.
    In the assumption, kids should not use this app alone, they need the support of parents, because despite of the tutorials in the app, parents are always the best instructor for the children.