Initiate. Control. Educate.
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When more than 50% of your customers are parents, it makes sense to offer an app that initiates their children into the practice of banking at an early age.
Children Banking enables parents to open a digital account in the child’s name, set savings goals and incentivize family chores to earn reward points. The savings and spending features embedded in the app lay the foundation for prudent decisions and a secure financial future for the younger generation.
value proposition Why "Children Banking" from Modefin
Empowers parents to control nature of transactions, transfer amounts, purchase permissions and spending limits.
Parent and child can mutually decide savings goals and set recurring transfers from the parent’s account.
Individual modules for transactional limits, rewards and loyalty, funds transfer and notifications enable the parent to monitor the child’s account.
Facility for crediting applicable cashback into the child’s account in case of credit card transactions.
Child can make a cardless withdrawal from ATM, based on a preset Limit.
Enables parent to send a Work List to child, and on completion of task, child is rewarded with cash transfer or loyalty points.
Insights
Success Stories
Universal Merchant Bank Ghana
Universal Merchant Bank (UMB) is a leading indigenous bank in Ghana which offers a diverse range of financial services to meet the banking needs of its customers.
Equity Bank Kenya
Equity Bank Fuels massive Transformation; migrates 3.5 mn SIM application Tool kit users and brings flexibility, stability and cost savings.
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