Cash Panda Fintech App to Educate Kids About Money Management Using Fintech Technology
DOI:
https://doi.org/10.70670/sra.v3i3.2028Keywords:
Financial Literacy, Fintech, Mobile Banking, Gamification, Child-Friendly App, Financial Education, Parental InvolvementAbstract
In today’s digital age, financial literacy is a vital life skill that must be instilled from a young age to ensure financial independence and responsible money management. Despite its importance, traditional financial education tools fail to engage younger audiences effectively. This study presents Cash Panda, a fintech-based mobile banking application designed specifically for children aged 6 to 12. The application integrates gamification, educational modules, and parental monitoring features to teach fundamental financial concepts such as saving, budgeting, and tracking expenses in an interactive and engaging way. The development of Cash Panda involved a structured research process, including requirements analysis, system design, and user testing. Key features include savings goals, a spending tracker, gamified learning experiences, and a robust parental dashboard. User testing conducted with a sample group of 30 children and their parents revealed high levels of engagement, improved financial awareness, and positive behavioral changes, such as increased interest in saving allowances and tracking expenditures. The findings indicate that Cash Panda successfully addresses the gap in financial literacy tools for children by providing a child-friendly, intuitive interface and leveraging gamification to make learning enjoyable. Parental involvement further enhances the educational impact, fostering collaborative financial learning within families. The study highlights the potential of fintech applications like Cash Panda in shaping early financial habits and preparing children to navigate the complexities of personal finance.
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