Gimi, a Stockholm-based children’s financial literacy app, has partnered with Dutch multinational bank ABN AMRO to educate young people about personal finance and provide them with a platform to handle their bank accounts.
The partnership with Gimi makes ABN AMRO the first bank in Europe to launch an educational tool designed specifically for children and their parents to help address the issue of youth financial illiteracy. The co-branded app, which was developed in 90 days, allows the bank’s young customers to handle their money through their connected bank account using open banking.
Founded in 2015, Gimi is an app that claims to improve the financial well-being of the next generation by helping children make smarter financial decisions. The app is aimed at children between the ages of 7 and 13 years, and to date has achieved over 1.5 million downloads globally. The app encourages experiential and social learning and provides children with fun, efficient, and practical opportunities to learn how to handle their personal finances. The Gimi app is available through all app stores and is translated into English, Swedish, Norwegian, and Dutch, covering all currencies throughout Europe.
Speaking about the app, Philip Haglund, Founder & CEO of Gimi, said,
"Our mission is to equip future generations with financial superskills for life. We can achieve this by encouraging children to learn on the go by managing their money in real-time through the Gimi app. All around the world, children are taught about faraway planets or historic Kings and Queens, but they know little about how to budget or understand their finances. Partnering with such a reputable bank as ABN AMRO allows us to work with a like-minded organisation that wants to equip children with the money-related skills they need."
The Gimi app is now available to all families in the Netherlands, and those accessing it through ABN AMRO will have free access to Gimi’s Superskills Pro subscription, which provides personal finance e-lessons. The Superskills package maximises the financial literacy learning experience for children, as they can enrol in personal finance e-lessons and take part in ‘money missions’ with their families.
Speaking on the partnership, Jorissa Neutelings, ABN AMRO’s Chief Digital Officer, said,
"At ABN AMRO we believe that financial literacy is a key building block to a successful life. Through our partnership with Gimi, we’re now able to provide parents with a convenient, engaging, and fun tool to teach their kids to become smart with money and grow into financially independent and responsible young adults."
ABN AMRO is the third-largest bank in the Netherlands offering a range of financial products and solutions with a focus on Northwest Europe. The firm’s motto is ‘Banking for better, for generations to come’. The bank serves over 5 million clients and employs more than 19,000 people.