Digital allowance. Customizable debit cards. Goal-setting and saving with interest paid by parents or the bank.
These are some of the top features that exist in challenger banks for Generation Z, or those born in 1996 or later, but are largely absent from traditional banks’ offerings for young customers. A year ago, a handful of fintechs for kids and teens populated the market, including Greenlight, gohenry and Step. Since then, a mini explosion of similar apps has targeted the same audience, including Copper, Verizon Family Money, Till Financial and Wingocard.
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