Savii offers a mobile banking platform and Visa spending card for teenagers aged 13 and older, enabling them to manage their finances through features like money transfers, budgeting, and savings allocation. The platform empowers parents to monitor spending while providing children with the tools to earn, save, and spend responsibly without account fees or minimum balances.
Funding
Funding not disclosed
Founders
Product
Problem
Many teenagers lack access to practical financial tools and education, hindering their ability to learn responsible money management. Traditional banking options often come with fees, minimum balances, and complexities that are not suitable for young users. Parents also struggle to effectively guide and monitor their children's spending habits in an increasingly digital world.
Solution
Savii provides a mobile banking app and Visa spending card designed for teenagers (13+) to learn and practice financial literacy. The platform allows teens to manage their money through features like instant money transfers, budgeting tools, and savings goals. Parents gain visibility into their children's spending habits and can offer guidance without directly controlling the account. Savii aims to empower teens to develop sound financial habits early on, preparing them for future financial independence.
Target Audience
The primary target audience is teenagers aged 13 and older who are looking to gain financial independence and learn money management skills, as well as their parents who want to guide and monitor their children's spending.
Features
- Visa debit card for online and in-store purchases, accepted wherever Visa is available
- Instant money transfers between Savii users
- Budgeting tools to track spending and allocate funds to different categories
- Savings goals feature to set targets and monitor progress
- Referral program to earn money by inviting friends to join Savii
- Real-time transaction notifications and spending summaries
- Parental monitoring features to oversee account activity