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Pocket money is usually still given „cash on the nail“. In a world where cashless payments are on the rise and a life without a smartphone is no longer conceivable, this seems outdated and obsolete. Why shouldn’t children have their pocket money transferred to an account like their parents’ salary and be able to manage it on their smartphone?

For this reason, Inventx set to work with GFT as an implementation partner to develop a mobile app that enables the management of the pocket money. The result is a white-label solution «DB4Kids».

Recently, three Swiss banks have started offering their clients their own banking packages based on the «DB4Kids» application, including an account, card, and app. Following the Graubündner Kantonalbank’s Gioia Kids and the St. Galler Kantonalbank’s MiniBank, which have been addressing younger target groups earlier, the Nidwaldner Kantonalbank has now also added its Noldi app for its youngest customers in its portfolio. This is already the third Swiss cantonal bank to rely on the white-label solution, which helps financial institutions to familiarise young target groups with the topic of money and digital banking in a playful way.

”We see it as our responsibility to help children handle money. With our Noldi app, we link this important and at the same time complex topic in a playful way,”

explains Nicole Lüthy, Head of Private Clients and Member of the Executive Board of NKB.

Nils Reimelt

“The successful collaboration with GFT and Inventx has enabled us to launch a new digital banking product for our young clients aged between 6 and 14. We are thus creating the basis for a lifelong relationship with this customer group,”

emphasises Nils Reimelt, Head of Digital Banking, St. Galler Kantonalbank.

Heinz Ehrsam


Heinz Ehrsam, Managing Director of the implementation partner GFT Switzerland AG, outlines the potential:

” The focus in the banking sector is on customer centricity. With Digital Banking 4 Kids (DB4K), children learn how to handle finances on their smartphones in a playful way. Parents can support their children via their own online banking. Due to the integration, parents have the detailed financial overview at any time.”

Pascal Wild, Head of Banking Inventx AG adds:

„With this new app, we have developed a cross-generational product that all age groups can truly enjoy. The corporate design can be adapted to the specific parameters of each bank. With the use of APIs, a direct connection to all core banking systems is also possible. “

The functions of the mobile app include:

• management of the pocket money in a pocket money account
• set goals to save money and allocate the available balance to these virtual savings-goal-accounts
• easy to use and suitable for the specific age groups
• clear representation of income and expenditure for children and parents

Digital Banking 4 Kids – The Swiss Solution to manage pocket Money digitally.​

The Digital Banking 4 Kids app builds a strong relationship with customers by giving parents and children an incentive to interact with their bank on a regular basis. By being able to view income and expenses, as well as define and track goals to save money together, parents can encourage their children’s financial education and responsibility in handling money.

A strong partnership between Inventx, the Kantonalbank and GFT​

GFT developed the underlying white-label solution with a mobile app for children and a web cockpit in just nine months. The GFT team worked hand in hand with the Inventx product owner and representatives of the pilot banks. This constellation enabled a co-creation approach to implement the optimal user experience of the mobile and web application.

Read the complete success story here.



Featured image credit: Edited from freepik

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