Teaching a child about the value of money isn't an easy task, which is why one company has decided to replace the outdated piggy bank, with a digital money box entitled 'Money Monster.'
Money Monster is both engaging and educational for kids, making the concept of financial responsibility make sense to young children. The money box is linked to a contactless cash card that's controlled by the parents. When parents transfer money to the box, the screen lights up and informs the child of how much money is in their current possession. Children can then use the connected card at stores, like they would a regular debit or credit card.
This alternative banking system for children teaches children a much-needed lesson in fiscal responsibility.
Parent-Controlled Money Boxes
Money Monster Teaches Children a Lesson in Financial Responsibility
Trend Themes
1. Digital Money Boxes - Opportunity for disruptive innovation in creating engaging and educational digital money boxes for kids.
2. Contactless Cash Cards - Potential for disruptive innovation in developing contactless cash cards designed for parental control and children's financial education.
3. Alternative Banking for Children - Disruptive innovation opportunity lies in creating alternative banking systems that teach fiscal responsibility to young children.
Industry Implications
1. Fintech - Fintech companies can explore disruptive innovation opportunities in developing digital money boxes and contactless cash cards for children.
2. Education Technology - Education technology companies can leverage disruptive innovation to create engaging and educational financial learning tools for kids.
3. Consumer Electronics - Consumer electronics companies can tap into disruptive innovation by designing intuitive and child-friendly money boxes and cash card systems for children.