International neobank Revolut introduced at this time that its youth-focused monetary app designed for people aged 6-17, has surpassed two million customers worldwide.

The <18 app, a part of a collection geared toward empowering the subsequent technology with monetary literacy, now counts greater than 3.5 million customers, together with guardians.

The rise in customers, particularly notable in Singapore the place the variety of younger customers and their guardians has doubled up to now 12 months, comes at a time when monetary literacy is more and more important.

Revolut’s app gives younger customers and their mother and father with instruments to handle funds successfully. The app contains options like instantaneous spending alerts and budgeting instruments to assist customers develop good monetary habits from an early age.

In response to its increasing consumer base, Revolut has enhanced the <18 app with a refreshed design and extra options.

New instruments equivalent to Analytics improve budgeting and spending evaluation, aiding in monetary schooling, whereas Wallpapers permit teenagers to personalize their expertise.

Moreover, the app now affords options like Pockets for goal-specific financial savings and Spare Change round-ups without cost to all customers—beforehand accessible solely by paid plans.

In Singapore, the place month-to-month spending amongst younger customers has risen by 20% over the previous 12 months, the app’s options are serving to to extend the common allowance acquired by youngsters.

Revolut’s <18 app is now accessible in additional than 20 markets together with UK, EEA, Australia, Singapore and the US.

Carlo Spada

Carlo Spada, Head of Product, Revolut <18 stated,

“The options we’re asserting at this time will empower younger individuals to take the lead on their funds and practise wholesome cash habits, all with enjoyable alternatives for personalisation and the fitting stage of parental oversight.

 

We’re excited to see increasingly younger individuals selecting Revolut because the place to construct in the direction of monetary independence.”

Ashley Thomas

Ashley Thomas, Head of Technique & Operations, Revolut Singapore, stated,

“If youngsters don’t obtain correct steerage and domesticate the incorrect habits of their youth, they danger lacking out on alternatives and making expensive errors as adults, which can drastically impression their total well-being and high quality of life.

 

We’re inspired to see the growing adoption of Revolut <18 and are dedicated to empowering our younger ones with the instruments they should not simply survive, however thrive in any monetary local weather.”