European financial institution, KBC is on a mission to assist youthful generations to enhance their monetary wellbeing whereas additionally serving to them obtain their saving desires. To assist realise this purpose, KBC has partnered with Doconomy, the fintech offering banks with revolutionary instruments to drive monetary wellbeing, to permit customers to set personalised desires and develop new saving habits.
Offering customers with interactive options, Doconomy will enable KBC customers to work together by way of the financial institution’s app in a brand new method, enabling them to trace their progress in direction of reaching their monetary targets. The brand new choices will probably be provided to all KBC customers, though the financial institution is placing an emphasis on serving to these aged 18 to 25 to develop higher saving habits.
The banking app allows prospects to give attention to each brief and long run targets, starting from saving for a live performance ticket to saving for a home. Doconomy supplies tailor-made, achievable saving plans that provide methods to cut back bills and nudge folks in direction of saving small quantities extra steadily.
Moreover, new information from Doconomy revealed that, in October 2024, the most well-liked desires entered into the platform had been for a brand new dwelling, adopted by cash saved for a wet day, and a brand new automobile in third place. Different desires additionally included holidays, smartphones and residential renovations.
Creating optimistic change over time
Karin Van Hoecke, basic supervisor for digital transformation and information at KBC Belgium mentioned: “By integrating Doconomy’s saving module, we actively assist our prospects get probably the most out of their cash by inspiring them with related saving targets and providing enjoyable methods to succeed in these desires, akin to saving robotically when your favorite soccer crew scores a purpose or saving on a weekly foundation with a shock quantity. These small however constant efforts accumulate into a big quantity over time, resulting in optimistic modifications in each spending and saving behaviour.”
Mathias Wikström, CEO at Doconomy commented: “Empowering youthful generations to take larger management of their funds in a sustainable method and obtain their desires has by no means been extra necessary. Our current analysis revealed that for 1 / 4 (25 per cent) of Gen Z, getting in charge of their funds is their predominant precedence this yr, and an additional third (32 per cent) agree that having a selected financial savings purpose makes them much less prone to spend cash they save.
“By integrating our know-how, KBC reveals its dedication to monetary literacy for all generations and we’re very proud to be contributing to their market main ambition.”
Saving choices
Bringing monetary wellbeing instruments into the twenty first century, saving choices embody inexperienced save hacks, in addition to extra spontaneous and enjoyable choices. For instance, establishing a weekly automated shock saving, or imposing a optimistic affiliation with financial savings, together with saving a set quantity every time an individual’s sports activities crew wins.
Alternatively, customers can go for the extra conventional method, with ‘Save good’ choices that put aside a portion of an individual’s wage every month or save a set quantity each week.
