NatWest has bought RoosterMoney, a banking FinTech aimed at children.
In Brief:
RoosterMoney was launched in 2016 to enable parents and children to learn about money.
It offers guidance around earning, saving, giving and spending.
Parents can offer children a payments card and are able to freeze it or monitor their spending.
What does this mean?
The acquisition is part of NatWest’s commitment to support families and young people in managing their money. RoosterMoney has continually added new features over the past few years, including enabling parents to set an interest rate to encourage their child to save money.
