About This Project
Summary
In 2024, DBS Innovation Group & Consumer Banking Group reinvented POSB Smart Buddy, the world's first in-school wearable tech savings & payments solution, to gamify financial literacy amongst children. Using DBS WOW Xccelerator program – a part of the bank’s innovation Pyramid, it delivered • App Dashboard insights which provide real-time summaries of the children’s spending/ saving habits • In-app Smart buddy Missions that gamified financial challenges to promote positive financial habits
Goals & Objectives
• Cultivate responsible saving & spending habits in children, through a convenient and secure tool to manage pocket money • Transform financial literacy into an active, engaging experience • Mobile technology created an impactful solution to promote financial well-being across Singapore schools
Results & Impact
• 75% Y-O-Y increase in children’s savings • Average savings per child increased from ~S$12.74 to ~S$16.29 In 2024 • New "Missions" & “Insights” feature boosted user engagement and financial literacy among >230k students in 254 schools
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