Serbia EN

2 minute read

The Challenge

Parents struggle with giving their children cash allowances, tracking their spending, and ensuring they develop good financial habits. At the same time, kids face challenges in managing their money, tracking savings, and frequently borrowing or lending money. Currently, the lack of a seamless system makes financial management difficult for both.

What’s needed is a straightforward solution to simplify allowance distribution, improve spending visibility, and encourage financial literacy.

The Solution

A family banking app was developed to simplify financial management.

Parents can automate allowance transfers, eliminating cash handling. Real-time dashboards offer visibility into spending and savings for both parents and children. Gamified financial education and spending insights promote responsible money habits. Meanwhile, peer-to-peer transfers within the family reduce borrowing friction, making financial management seamless and efficient.

The Results

The first family banking proposition in the UAE

A new customer base has boosted upsell rates by 30% across products

New revenue streams increase retention, driving 3x lifetime value

Our Process

We identified gaps and developed a user-friendly app for kids and parents to track and manage their shared financial relationships.

Workshops: We conducted market research to analyse strengths, weaknesses, and opportunities in children's banking. User interviews with parents and kids helped us understand their needs and expectations.

Research synthesis: Insights from our research shaped a product strategy, which was reviewed and approved by senior management to ensure alignment with business goals.

Product development: We prioritized MVP features for a quick launch, mapped key user journeys, and built service blueprints for complex processes like onboarding.