Financial wellness
Financial wellness and educational tools
In an evolving banking landscape, with emerging digital banks offering highly competitive fees and rates, it has never been harder to acquire new customers. By offering modern day financial wellness programs to the youth, the credit union unlocks a new communication channel to target the younger generation, and secure the next generation of credit union members.
40% offer financial education to the youth (GenZ and Gen Alpha), with 22% offering at least 3 different educational tools.
20.000
billion ($)
Solution
As teens increase their understanding of the banking system and financial concepts, parents are more likely to allow their children to learn through experience, by opening a youth checking account.
Connect
Mobile app
Digitalization
Playful learning
In-sync
Connect
Peak Financial Wellness offers an innovative way to connect with the youth, and secure the next generation of credit union members.
Mobile app
Peak Financial Wellness is a white-label platform developed for credit unions to provide playful financial education through a single platform, designed with concurrent generational standards.
Digitalization
For digitally savvy generations like Gen Z and Gen Alpha, an excellent user experience is not an add-on but a starting point. They expect intuitive and visually appealing interfaces, instant responses, bug-free performance, while also demanding transparent communication and contribution to social and environmental issues.
Playful learning
Tailored to stay ahead of concurrent generational trends, the platform has a gamified design - with gamification, users experience learning in a similar way as if they were playing their favourite games. Users are allowed to create their own avatar, compete with their friends on weekly leaderboards, and receive in-game and real-life rewards.
In-sync
Apart from branding, you can upload your own financial education content to the platform. Peak Financial Wellness is compatible with all kinds of educational methods and tools, including blogs, quizzes, videos, slides and games, among others.
Credit union members say their institution improves their financial well-being - 1.5 times more often than members of banks or other financial institutions.
16
%
Accounting
14
%
Customer relationship management
9
%
Banking
9
%
Technology and 26% - further tasks.
Collaboration models
Individuals with higher levels of financial literacy tend to participate more in the financial system. Studies have shown that adults with better financial knowledge use financial instruments more often, including mortgages or credit cards. They also tend to contact financial institutions regarding financial products more often. In addition, more than 2⁄3 of people without bank accounts are financially illiterate.