Strive which operates a challenger bank aimed at children, has acquired digital piggy bank GoSave.
In Brief:
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The FinTech is launching with a savings account and a piggy bank that holds £99 for the youngest customers.
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For age eight and above, children can link pocket money to chores.
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Teenagers get a fully functional debit card.
What does this mean?
The app aims to teach children about money and also includes a marketplace for educational products. However perhaps the most interesting aspect is a white-label option for banks to integrate, which could help them retain their younger customers – especially the children of existing patrons.
