OCBC launches financial literacy app for kids

OCBC Bank has launched an online financial literacy app called The Mighty Savers.

Co-created with Yu Neng Primary School, the app aims to benefit thousands of children aged seven to 12 both locally and abroad.

This seven month-long collaboration brought together two OCBC Bank mobile developers, one experience designer and four 10-year old students to co-create a unique game that teaches wise spending, differentiating needs and wants, sound investment, saving more with compounded interest and giving to others.

Meanwhile, money management concepts from the OCBC Mighty Savers programme were integrated into the game to ensure a robust financial literacy foundation for children.

This new game will be incorporated into OCBC Bank’s popular OCBC Mighty Savers programme to engage its customer base of young savers, using it as a fun tool to encourage children to be early adopters of good money management habits.

As an extension of the mentorship programme, OCBC Bank’s technology specialists conducted a coding workshop for Yu Neng’s entire cohort of 180 Primary Four students during the recent September school holidays.

The school’s teachers and OCBC Bank mentors selected the students’ winning concept for its simplicity and relevance to youngsters.

Creating the game involved mastering a coding language that is more complex, building upon the Scratch language that the students learnt under the Code for Fun programme, an initiative of the Code@SG Movement.

OCBC Bank’s technology specialists, who are responsible for building OCBC Bank’s mobile banking services, worked with the students to enhance their coding skills, introducing enhanced software, Gamemaker. The experience design specialist advised the students on game flow and graphics design, using Illustrator and Photoshop.

Ooi Sang Kuang, chairman, OCBC Bank said, “This project is the first of its kind in Singapore. We are proud and – yes, excited – to pioneer this info-comm collaboration, in aid of teaching money management skills to the young. We see the benefits of such a collaboration and hope there will be many more. “

Steve Leonard, executive deputy chairman, IDA said, “As we journey towards a Smart Nation, it is important to equip our young talent, our future workforce with the coding skills and logic thinking to give them the confidence to leverage on technology to help solve problems.”

The move comes at a time,  financial brands are actively targeting kids. Just last month, Prudential launched Cha-Ching Boomerang Kids’ Card in a move to reach Thai kids and families with financial literacy education.