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NEO Bank For Teens To Promote Savings And Social Finance Amongst Teenagers

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akudo
NEO Bank For Teens To Promote Savings And Social Finance Amongst Teenagers

Saving is an essential life skill that you need to inculcate in your kids from an early age. But unfortunately, many families still favor the idea of piggy banks when it comes to teaching saving money to their children. 


Although it is a fun idea to practice, it seldom has appropriate effects on the kids. They do not learn the value of money or anything related to investments to use in their future. It is essential to use feasible ideas like NEO banks for teenagers to teach them more about finances and savings.


Confused? Well, NEO banks are the ones who are bringing massive changes in the fintech industry. These digital banks aim to provide customer-centric services to their users at minimal or no charges. Moreover, since these banks do not have any physical branches, they have minimalized their operational expenses to offer incredible services to the users at low costs.


NEO Banks: Made For Teenagers


NEO banks are available for all. But essentially, these banks are targeting the GEN Z to impart financial literacy to the upcoming generations. It is never possible to handle your investments and finances if you have zero knowledge. Although you might know how to save money, it is practically impossible to understand how to invest money to multiply it. 


Recently, a NEO bank is grabbing all the limelight in the market for being one of the best options for banking for teenagers. The name is akudo, and the brand is highly focused on imparting financial literacy to kids. 


The bank offers exceptional services and facilities to both teenagers and their parents. They even reward the accounts when the account holder decides to save some extra bucks for later. So, this is one of the best ways to inculcate the feeling and responsibility towards savings in young adults. 


NEO banks are known for their customer-focussed services being highly innovative and interactive. They offer incredible value-added services that mainly target young adults and promote them to become more financially sound. 


Did you know that more than 50 NEO banks are now offering banking for teens below 18 years? The majority are UK-based Revolut, US-based Current, South Africa’s Bettr, South Korean Kakao Bank, and India-based akudo. These applications are highly responsible for teaching kids and teenagers more about the value of money and how to save them for the future. 


Why Target GEN Z?


Youngsters are already more concerned about their funds and financial investments. But only after the influx of smartphones and digital platforms are these people attracted to digital banking solutions.  

The NEO banks are concentrating more towards involving AI-based personalized solutions to meet the critical requirements of smart gadgets savvy youngsters. So the more you get them to incline towards these applications, the better it gets for the brands to get social media visibility and attention from the masses. 


With the COVID situation around, the NEO banks are proliferating pretty smoothly. They are taking over conventional offline banking systems and practices, thereby paving the way for digital solutions to meet user expectations. Moreover, with a more intuitive platform and unique features, there isn't a doubt how these NEO banks can make people stay loyal to them for more extended periods. 


Therefore,


NEO banking concepts are no longer restricted to a continent or a country. Instead, the entire world has been welcoming these practices since the pandemic and has been using these services. Among the trending ones dominating the economic world, some important names to consider are Fyp, Yodaa, Bettr, akudo, and more. 


If you are looking for easy ways to introduce your kids to the world of money, akudo can be the ideal guide. It is easy to use and offers fantastic discounts to the users every time they save money. So, let your kid understand the value of money while learning how to save them over time with akudo. 


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