Otly and bunq announce the first banking experience for kids

AMSTERDAM – April 24, 2017 – Otly, the first financial platform for children, and bunq, the innovative mobile- only bank from the Netherlands, are announcing the integration of their services on the Otly platform. This partnership will further the goal of Otly to provide children with a safe and easy way to save and spend their own money and become financially smart along the way.

“Kids are increasingly being left behind when it comes to financial services and education. Kids used to be able to spend their own money to buy candy or to go to the store. The way children spend their money has moved from offline to online, but their money hasn’t made this transition yet. We at Otly are going to make this happen” says Otly CEO Lior Bornshtain. “In this increasingly digital society, children are not able to spend their own money anymore and learn about money in the process. We aim to change that and get kids back in charge of their own money.”

The integration with bunq complements the Otly platform and transforms it from a virtual allowance management tool, to the first real banking experience for kids. With Otly connected to the bunq API, parents can be absolutely sure that their, and their children’s money is secure and does not have to be transferred anywhere. This partnership enables banking for your kids, with your own familiar bank account.

Ali Niknam, CEO and Founder at bunq: “We are proud to be part of the Otly mission to educate children about money. At bunq we believe that people should have full control over their money again. Therefore, the Otly mission is closely related to bunq.”

The partnership between bunq and Otly is an obvious combination of the two mobile-only companies with a joint mission on disrupting the financial services industry with new and customer-centric products. With the introduction of bunq in Germany and Austria and making their API public ahead of PSD2 , the connection with Otly is yet another step towards a more customer friendly and digital financial system.

FOR MORE INFORMATION
Contact
Otly: Jelle Swaan 
+31 (0)6 50 20 29 36 // jelle@otly.net
Bunq: Floor Eizema +31 (0) 6 51 04 79 98 // feizema@bunq.com

About Otly: Otly is an Amsterdam based startup with a focus on the early financial education by providing a safe financial ecosystem. Providing apps for both the parents and children, Otly has taken the first steps to realising the first banking experience for kids. Otly was founded in 2015 by Lior Bornshtain and Vedran Vego, who have over 25 years of combined experience in the FinTech industry. For more information: www.otly.net

About bunq: We’re a bunch of people with a passion for change. So why start a bank? Because we share a belief: your money should be easy to use and share. Send it to your friends in 1 second. Split it, share it, or save it for a rainy day. Have your money dance to the rhythm of your life. Let’s rebuild banking together. For more information: www.bunq.com