Reported by: banking|Updated: October 3, 2016
Standard Bank launched a first-of-its kind banking app for children. The Standard Bank Kidz Banking app is available initially only to Android users and is designed primarily for kids between the ages of 6 and 11. The bank said it is a tool designed to engage and entertain children while enabling parents to explain concepts of money management such as earning, saving, and spending. The app is set in an animated fantasy realm where colorful digital representations of South Africa’s Big Five animals maintain habitats each representing a different area of money management. The app will be directly integrated into the parents’ banking app, allowing them to have controls and visibility over transactions available for children.