Finance App for Kids: Concept of child-friendly banking app

Finance App for Kids: Concept of child-friendly banking app

Finance App for Kids: Concept of child-friendly banking app

Concept idea

We at Surf, being professionals in the financial technology field, always keep a close watch on the developments occurring in the financial market. Investing in children, more explicitly investing in children’s and adolescents’ financial education through a finance app for kids, is one of the trends that we like the most.

The formation of positive attitudes and behaviors regarding money begins in children as early as the ages of six and seven. According to additional studies by the FINRA Foundation, extra rigorous financial guidance resulted in positive behavioral formation and improved results such as lower credit delinquency and better credit scores. It is essential to begin instructing children about financial literacy at a young age to have a strong foundation upon which to build as they get older and start to make more complex spending decisions.

After the difficulties we encountered with the epidemic, it is not surprising that instructional apps focusing on financial matters are becoming increasingly popular in current uncertain times. The need to teach children how to handle money and set money aside correctly is all parents know. However, schools rarely provide courses on personal finance. As a result, there is an increase in the number of financial apps aimed at children and adolescents, and investors are prepared to support these apps.

Teaching children about financial matters will accomplish all of the following:

  • It will make it easier for them to live on their own. Your child needs to be able to successfully handle money if you want to eliminate the possibility of them depending on you for financial support for the rest of their lives or seeking to move back in with you.
  • It will prevent them from going into debt. Children can learn to live within their means with the guidance of budgeting. In addition, instruction on interest can assist students in making informed choices on the use of student loans and other forms of significant purchase financing.
  • A finance app for kids will make it possible for them to achieve their objectives. As parents, we frequently encourage our children to have ambitious goals and aspirations. Kids will be more likely to achieve their dreams if they have money saved up and know how to make the most of it. These objectives could include opening their own company or traveling the world.
  • It will assist them in accumulating wealth. If one is knowledgeable about how to invest their money, even individuals with lower wages can amass sizable savings over time. By teaching these talents to children, parents have the opportunity to leave a lasting legacy for future generations of their family.
  • It will make their life happier and more meaningful overall: Studies have shown that an increase in one’s income is associated with an increase in one’s level of happiness. However, some people believe that money cannot buy happiness. This could be because financially secure people do not have to worry about whether or not they will be able to pay their bills and are therefore able to pursue their goals with greater assurance.
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As a result of our research into the market, we concluded that there was a need for a banking application specifically designed for children and adolescents. A finance app for kids helps:

  • Children are taught and given practice in financial management.
  • The financial dealings of children are monitored by their parents, who also instill a sense of fiscal responsibility in their offspring.
  • The education that banks provide fosters future consumer loyalty.


We wanted to develop a product idea that would appeal to new clients, namely parents, while also being entertaining for children and adolescents. Because of this, when we first started working on the finance app for kids, we had two primary aims in mind:

  1. Make an educational product, but don’t just copy the features of an adult app into the children’s interface. Instead, come up with something original.
  2. Encourage children to receive an education to grow up with the mentality of successful business people who are aware of the dangers that can be posed by their finances and who can control those dangers by using the various banking products and tools that are currently available.


A collection of fiscal resources geared toward children

Not only may a child learn how to handle money from their parents and instructors, but financial institutions and fintech companies can also take on the role of teachers to increase the financial literacy of their potential future consumers.

The finance app for kids ought to provide children with all of the financial tools that they need to understand how to deal with money from a young age. When youngsters have a better understanding of money management, banks have a better chance of building a customer base that is loyal and consistent, which leads to increased profits. A straightforward and enjoyable banking experience ought to be provided by it. The product is geared toward younger people and features simplified procedures that give the children a risk-free environment to learn about money.

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True wealth comes with actual responsibilities

Parents want their children to develop the ability to think independently and become financially responsible in an environment conducive to learning. Because of this, the finance app for kids should allow parents to make rapid transfers, establish and remove spending limitations, and monitor what a child buys with pocket money. During this time, children have the opportunity to learn how to budget their money, save money, and plan their expenditures.

Various design solutions

Children are drawn to things that are both unique and inventive. In addition to this, they despise following patterns and doing things repeatedly. Each of the available motifs has its unique design, user interface features, and dialogues so that using the application will never become tedious.


The game gives children the opportunity to see themselves as business owners. Children better understand how the decisions they make might affect the financial result and learn to think more like business people due to playing games that teach them how to do so.

Having a lemonade stand at the age of six, managing a factory at nine, and starting a business at thirteen are all popular options for young people. The games are tailored to the specific periods of the participants.

Virtual assistant

Exciting stories and the characters within them are something that children like reading. By the age of six, these are fairy tales and then turn into actual stories. When conceiving of the idea for a banking application geared toward children, we took into consideration not only the requirements and interests of the child but also the passage of time and emerging technology. A mascot character and a chatbot were the end products, and they are designed to assist children in navigating the interface and learning economic topics.


The concept of mobile applications offers youngsters the opportunity to do the following:

  • Become more engaged in matters of finance so that future instances of economic turmoil and difficulty won’t be as shocking to you as those that have already occurred in the adult world;
  • Change your way of thinking and become conscious of the fact that money may and will bring profit;
  • Learn new things and pick up some tips on how to put money away for your goals;
  • Instead of playing endless shooter games, you should spend time with us playing engaging and beneficial games for the brain.
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And the software makes it possible for parents to do the following:

  • Teach their children how to be responsible with money, how to make money, and how to save money;
  • Keep an eye on what your children are doing with their money online;
  • Enhance their children’s financial literacy in a way that is similar to playing a game;
  • Maintain the confidentiality of the family’s financial information.

Understanding the significance of responsibly establishing and maintaining one’s credit history while still a minor is necessary. Many young people, because they lack this understanding of credit, consider credit cards and other types of credit to be “free money.” Using gamification elements, this app teaches children fundamental financial concepts such as budgeting, saving, and investing. It also motivates children to handle their own money responsibly. Users have an easier time understanding and evaluating their purchases, accessing spending feedback, and learning with the help of personal finance lessons supplied in the app as a result of the financial data that is made available to them through open banking.

The field of mobile banking is one in which Surf is particularly strong. Both games and a banking service were incorporated into acquiring financial literacy as part of our plan, which was based on the framework we developed. Because of this decision, the financial institution will be able to win over new consumers, such as children and their parents, and improve the loyalty of its existing customers and their emotional connection to the brand. It is essential to develop a finance app for kids utilizing the concept as its primary building block. This is the last thing that has to be done.