George Junior Qorus-Infosys Finacle Banking Innovation Awards 2024

We are excited to introduce our new mobile banking app designed specifically for children aged 7 to 14yo. “George Junior”", is not just a financial tool but an educational platform that empowers the next generation with essential money management skills in a safe and fun environment.

In today's digital age, financial literacy is as crucial as ever. However, traditional education often overlooks these essential skills. By providing an interactive and engaging platform, George Junior fills this gap, preparing children for a financially responsible future.

Market truth Younger generations expect quick and convenient banking & payments. Children don’t view banks as institutions, they identify and react more to the “emotional bank”.

Users needs & expectations A parent – child solution should find the proper balance between child need of independence and parents need for oversight and customizable control.

Parents: - Wants to balance control vs independence. - Wants to educate kids on how to save money; - Wants to provide pocket money in more convenient way, not in cash

Children: - Expect immediate access to money - Want to have/ save money for a purpose - Expect mobile solutions to adjust their needs George Junior product vision: - Seamless daily banking experience for parents and their kids; - Inspire kids to understand the base of financial education, in a fun and engaging way; - Bring family together when learning about money and financial responsibility.

Competition – RO Market The parent-child landscape is in an early stage of development in Romania, with Revolut and ING having a higher visibility in the market.

Competition analysis – other markets Notable features of other markets propositions: gamification, referrals, app skin or debit card personalization, social responsibility.

Results: first months after launch - 14.988 new George Junior accounts - 30% already user George Jr app - 232 ATM transactions - 6.752 POS transactions in amount of 28k Eur 9 months later: - 30.406 new George Junior accounts - 35% already user George Jr app - >3082 ATM withdrawals - >500 k eur POS spendings.