10/2020: Finny: First open banking app for children
First open banking app with integrated account: FINTUNE launches financial education app “Finny”. Children learn in a playful way how to handle money sustainably.
Just in time for World Savings Day, the Swiss company Fintune.ch “Fintune” is launching the beta version of the “Finny App” in Germany and Austria. The app enables children aged 7-12 years to learn how to handle money sustainably in a playful way and provides parents with valuable tips and food for thought on financial education.
“Finny” offers an innovative service for banks in Germany and Austria. The app is bank independent, i.e. it can be connected to current accounts of about 2700 banks (List see here). A big step in the context of Open Banking. Open Banking enables banks to grant third party providers access authorisation to selected data in a secure way with the consent of the customer.
For parents and families: simple, helpful and free support in financial education.
Parents receive valuable tips and food for thought on financial education via the app. Family members, e.g. grandparents and godparents, can also be invited to see the children’s savings targets and participate in the digital savings program by means of an IBAN transfer. Pocket money payments are automated and the children’s expenses can be tracked at any time. Children receive points and funny badges for their learning achievements.
Financial Literacy – A new, innovative offer for bank customer
For banks, Fintune.ch offers cost-efficient white label solutions by either integrating the app into an existing offering or combining it. “Finny” is available for download on iOS/Android.
Ruth Mojentale (CEO, Co-Founder) says: “It is important to us to support children in dealing with money at an early stage by enabling parents to give them a healthy relationship to money with “Finny”. We have specifically developed our app to teach elementary skills such as postponing a purchase or saving to avoid future youth indebtedness. Parents want to prepare children for a self-determined life in this digital world.”
Dr. Mara Catherine Harvey (author and Senior Manager Finance), adds: ” Studies show that the relationship to money is largely shaped until the age of 7. When parents talk to children about money, it is important to convey the healthy relationship to money and sustainability.”
telephone: +41 79 664 22 18
ABOUT FINTUNE AG
Fintune AG, based in Zurich, offers financial service providers, telecommunications companies and learning providers a digital platform to bundle their offerings. Its digital app “Finny” supports families in the financial education of the youngest generation – children learn how to handle money sustainably, both in digital and physical form.