Daily Fintech Conversations

Revolut Youth targets new customer segment - Kids and Teenagers

Originally published at: https://dailyfintech.com/2019/09/20/kids-and-teenagers-fintechs-new-consumer-base/

Arunkumar Krishnakumar is a Venture Capital investor at Green Shores Capital focusing on sustainable deep-tech investments. Catch ‘em young is banker marketing mantra – people rarely change from their first bank. UK with c. 20% of the population under 18 is an example. This is where top neobank Revolut offers “Revolut Youth” for 7-18 years old.…

Super interesting Arun. A friend who is also a parent was showing me his Revolut account with sub accounts for kids. As a big traveler he was first hooked by the low FX rates but he stayed because of the simplicity and low fees of accounts for his kids. Ages ago, pre Fintech I set up an account at a Big Bank to help make my son more educated about money. It was a disaster. I put in a small amount and after a while it was all gone, eaten by fees. Message to kids, banks take your money. "Revolut Youth” looks like a winner.

Capture the kids’ interest, maybe also capture mom and dad’s?
Huge upside, Arun, in engaging kids early in banking/financial services.
Digital Christmas Club account of old.