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Digital piggy bank for children

With myPiggy and the smart app, parents have a tool at their fingertips that can answer all their questions about money. This makes digital money tangible for children and turns saving into an experience.
vor 4 years | from admin
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MyPiggy - the digital piggy bank for children - is the first in a series of new products and services that revolve around the topic of family finances.

Together with a number of other banks, Volksbank Mittweida eG is pursuing the approach of not just developing "gadgets", but offering tools and content that are relevant to everyday life.

As a shareholder of VR Family Finance GmbH, Volksbank Mittweida eG is involved in the development and introduction of the innovative myFamilyFinance concept.

A design thinking process helped the breakthrough. The banks received support from the HPI School of Design. Project partner Volksbanken Raiffeisenbanken came to the HPI D-School with a design challenge that was originally aimed at young people aged 15-18. The bank was looking for ideas to support this target group in the financial planning of their educational path. However, during the research phase of the design thinking process, the team found that there was relatively little interest in financial topics among the target group. Instead, several of the young people interviewed commented that their younger siblings might be interested in the prototype that the student team had developed for the interviews. After realizing this, the students decided to focus their brainstorming on children aged 6 to 10. The students developed a personalized piggy bank that is supplemented by an app. Together, the physical piggy bank and the digital component in the form of an app make up Piggy World. The piggy bank is a tangible object that helps children to develop a feeling for money and its translation into the digital world. It contains a coin counter and a digital display that shows both the savings in the piggy bank and the current account balance. 

The myFamilyFinance app helps parents and their children to manage all tasks relating to savings, wishes, pocket money and budgets:

- Create common wishes and save for a goal
- Progress indicator showing which wishes the child can fulfill
- Stay up to date with Family News for parents and children

Volksbank Mittweida is convinced that the best way to learn how to manage money wisely is within the family. With the app and the smart IoT piggy bank, Volksbank Mittweida would like to support parents in this. But it also wants to help bring families together. Successful financial education begins in everyday life by doing things together as a family. That's why we have Family News. The news platform that bundles news on the topics of family and finance in its own section of the myFamilyFinance app. Here, parents can find personalized content with local tips and other exciting articles every day - from events in the region and hand-picked articles from parenting blogs to financial tips and information from their own bank.

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