#FinancialInclusion / JP Morgan Chase partners with Greenlight for kids account

The JP Morgan Chase app has around 39 million “active” customers – most of them adults… But its new account, called Chase First Banking, is fee-free and designed for both kids – as young as six – and teens to manage their money under their parents’ supervision. JP Morgan’s new product allows users to completeContinue reading “#FinancialInclusion / JP Morgan Chase partners with Greenlight for kids account”

#FinancialInclusion / Starling runs out of Kite cards as demand for child-friendly debit card skyrockets

Starling Bank ran out of its Starling Kite cards following a surge in demand for the dedicated children’s debit card. … the digital bank said that it had experienced a “huge response” for its newly-launched Kite cards and, despite briefly running out of cards, has now replenished its stock. [Starling’s chief banking officer:] "Kite hasContinue reading “#FinancialInclusion / Starling runs out of Kite cards as demand for child-friendly debit card skyrockets”

#FinancialInclusion #FinancialLiteracy / Chase Launches Free Checking Account For Kids, Teens

With Chase First Banking, built in collaboration with Greenlight, parents and kids will be able to work on managing allowances, check off chores and look at spending… Greenlight says its mission is to help parents raise fiscally-intelligent children. … the application comes with parental controls for how much the children can spend and for whichContinue reading “#FinancialInclusion #FinancialLiteracy / Chase Launches Free Checking Account For Kids, Teens”

#PersonalFinanceManagement / BoA Expands Into Digital Financial Planning For Consumers

Life Plan can be accessed through the Bank of America mobile app and website. It allows users to select and prioritize their financial goals in areas like finances, family, health, home, work, leisure and giving… Users can create adjustable goals to change along with their priorities, and progress can be monitored through personalized guidelines andContinue reading “#PersonalFinanceManagement / BoA Expands Into Digital Financial Planning For Consumers”

#FinancialInclusion #FinancialLiteracy / Teen banking app Step launches

Step, a teenager-focused US mobile banking startup backed by Stripe, has enlisted TikTok star Charli D’Amelio to help publicise its launch this week. The brainchild of Gyft co-founder CJ MacDonald and Square veteran Alexey Kalinichenko, Step is building a mobile-based bank account – held with Evolve Bank – specifically designed for teens… Last year itContinue reading “#FinancialInclusion #FinancialLiteracy / Teen banking app Step launches”

#FinancialInclusion #PFM / JP Morgan-backed Greenlight joins unicorn club with $215m Series C

Currently sitting at a $1.2 billion valuation, Greenlight states that it serves more than two million parents and children. It claims to have saved families a collective $50 million. The Atlanta-based fintech can monitor children’s spending, set savings goals, request cash and send children alerts when a guardian loads money to their card… it ensuresContinue reading “#FinancialInclusion #PFM / JP Morgan-backed Greenlight joins unicorn club with $215m Series C”

#FinancialLiteracy #Personalisation / Broadening the Reach of Financial Literacy Through Hyper-Personalization

Behavioral economics is the field of study which acknowledges that people are irrational beings… In addition to being irrational, most people struggle to understand financial products and services. According to Standard & Poor’s financial literacy survey, only 33% of the world is financially literate. The study concluded the following: among the four topics that defineContinue reading “#FinancialLiteracy #Personalisation / Broadening the Reach of Financial Literacy Through Hyper-Personalization”

#PersonalFinanceManagement / Betterment Debuts Cash Goals Feature To Help Users Save

Users can see all of their funds in a single location and save with intention by making distinct buckets for financial goals over the short or long haul through the functionality… Betterment offers automated investing portfolios, as well as financial advice, to its clients. While it seeks to bolster its use of automation across allContinue reading “#PersonalFinanceManagement / Betterment Debuts Cash Goals Feature To Help Users Save”