Personal financial management tool Teenit has tapped into Nordigen’s freemium platform in order to obtain open banking data to generate accurate insights and perform detailed analysis.
Teenit is a unique financial tool that was created to educate teenagers on money management, increase their financial literacy and enable them to keep track of their finances and create budgets. They aim to assist children in developing healthy habits in a cashless society and help them build up their knowledge to prevent financial issues in adulthood.
The age-appropriate application benefits from data insights, videos, and interactive quizzes to successfully engage teens in learning about their financial habits and how to prepare them for potential challenges ahead. The application also includes specially designed educational modules and timely notifications to ensure that the users remain continuously engaged and rewarded for their educational efforts.
“When we thought about Teenit, we didn’t want to become just yet another financial instrument. We wanted to serve education to young customers, no matter what bank they choose. The integration with Nordigen enables us to fulfil our purpose easily. With parents’ authorisation, we are able to connect directly to young customer bank accounts anywhere in Europe, visualise for them their money flows in a teenager-friendly manner and analyse them to further personalise the offered educational content”.
Tatiana Pastukhova, CEO of Teenit.
The integration with Nordigen allows the software to securely connect to customers’ bank accounts to source accurate transactional data and balances in real time.
“We are thrilled about this partnership. Financial literacy and education is incredibly important for all demographics, and starting to build a foundation of knowledge from a young age will be very beneficial for Teenit’s user base. Open banking goes hand-in-hand with personal financial management tools as access to customer information enables PFMs to stay up-to-date with their suggestions and analytics”.
Rolands Mesters, co-founder and CEO of Nordigen.