Penny Wise
Parental-controlled Kids banking app
Intellipaat Project
Problem: There is a common problem the extended gaps between financial classes in our society. According to the research, 90% of people wish they had taken money for education at an early age, but the current education system(public schools) doesn’t have financial education programs such as tax, investment, market, and economy.
Solution: Penny Wise allows children to learn about earning, saving, and investing money in a fun and engaging way. Its features include task-based earning system, daily financial quizzes, and playful UIs.
Penny Wise combines education with parental oversight to empower the next generation with essential money management skills.
Success Metric:
Engagement: 70% of children complete at least one task or quiz daily.
Learning: 80% of children show a 20% improvement in financial literacy scores after 3 months.
Retention: 90% of parents continue using the app after the first month.
Savings Goals: 60% of children achieve at least one savings goal within the first two months.
Penny Wise
Parental-controlled Kids banking app
Intellipaat Project
TOOL
Figma
COLLABORATORS
Smita Kaushik, UX Research
Poonam Borsaikia, Research, Persona
Study: Study(Game) provides 3 financial training games every single day,1: Math quiz, 2:Reading, and 3: Investment simulator. The Math quiz gives a money calculation quiz, the Reading is a short storybook and gives an easy summary quiz at the end, and the investment simulator is inspired by STAX, using fake money and experience to buy different kinds of properties such as ETFs, golds, or government bonds in 20 days span. Users can learn about smart approaches to use/save/invest money by proceeding with the game.
