In a case of a pig truly flying, the PiggyBot™ allowance app for kids and families won an Appy Award at a red carpet award ceremony in New York City only two months after launching. Developed by Kasasa® as part of the Kasasa U™ financial literacy hub offered through community financial institutions, PiggyBot was an instant hit nationwide, even reaching #1 in the iTunes® App StoreSM.
The Appy Awards (known as The Appys in the biz) celebrate and promote excellence in mobile app design and innovation. With the rise of apps taking the world by storm, The Appys were created in 2011 as the first, and still largest, major industry app award ceremony. PiggyBot won first place in the Family/Parenting category at the 4th Annual Appy Awards on May 21, 2014, beating out top competition from the other finalists in that category, Ford Motor Company and The Ad Council.
How PiggyBot Works
77% of parents believe allowance is a prime opportunity to teach kids about money.1 The free PiggyBot app transforms this opportunity into a highly interactive tool that helps kids set goals — and reach them.
Kids choose their goals (like a new doll or new bike). Parents use PiggyBot to dole out their kids’ allowance. But this virtual piggy bank is much better than the real thing. Parents use PiggyBot to put the allowance in buckets for spending, saving, investing, and sharing. So kids learn they can’t just spend all their allowance in one place!
Why Financial Literacy Is Important For Community Financial Institutions
A full 81% of parents feel it’s their responsibility to teach their kids about money,2 yet 74% of parents are reluctant to talk to their kids about finances.1 Why? They need help. By providing resources parents are looking for, these credit unions and community banks are standing out as leaders in their community.
PiggyBot, which is part of the Kasasa U financial literacy platform, is one such resource. Community banks and credit unions can create in-branch buzz with exciting posters, flyers, SR stickers, and more that are already created by the Kasasa team. A social media toolkit is also available to help community institutions generate more engagement with families in their communities.
1T. Rowe Price, “Parents, Kids & Money Survey,” March 2014
2Touchstone Research, DoughMain national survey, February 2012
iPhone®, iPad®, and iTunes® are registered trademarks of Apple Inc. App StoreSM is a service mark of Apple Inc.