When it comes to modern day finances, kids are grossly neglected. Education is still heavily resting on old paradigms and traditional allowance. Banking products are simply not created with the needs of parents and kids in mind. Otly is the missing layer for kid friendly banking. Parents get a convenient way to manage kids' allowance and teach them to be smart with money. Using Otly, kids finally gain means to save, spend and learn about digital money.
Otly connects with the parents' existing bank accounts and enriches them with Junior Banking capabilities in addition to bank's core offerings (e.g. debit cards).
Moreover, kids will be able to experience spending their money independently (with the parental approval), by having access to curated list of online retailers and services such as iTunes and PSN credits, that are all part of the Otly Safe Ecosystem.
More information is available in this online deck
Name CEO: Lior Bornshtain
Company founded in: 2015
Category: Innovative Banking