International neobank Revolut introduced as we speak 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 set aimed toward empowering the following era 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 yr, comes at a time when monetary literacy is more and more important.

Revolut’s app gives younger customers and their dad and mom with instruments to handle funds successfully. The app consists of options like immediate spending alerts and budgeting instruments to assist customers develop good monetary habits from an early age.

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

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

Moreover, the app now provides options like Pockets for goal-specific financial savings and Spare Change round-ups free of charge to all customers—beforehand accessible solely via paid plans.

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

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 mentioned,

“The options we’re asserting as we speak will empower younger folks to take the lead on their funds and practise wholesome cash habits, all with enjoyable alternatives for personalisation and the precise stage of parental oversight.

 

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

Ashley Thomas

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

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

 

We’re inspired to see the rising 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.”