The Project: Bankaroo is a virtual bank that teaches kids about the value of money in a simple and fun way. Bankaroo was created by an eleven-year-old named Danielle, who was looking for a good way to track her money and allowance and thought other kids could use the tool as well. Today, Bankaroo has thousands of members from more than 70 countries around the globe.
The Challenge: Bankaroo started as a family project to help children learn how to manage their savings. Danielle came up with the idea when she was 11 years old and helped to design, test, and market the product. Dad helped with the technology, and mom helped with the rest. It was important for Bankaroo to create applications for all mobile devices so that kids with different smartphones and tablets would have the possibility to learn how to manage their money.
Archer Software developed an application for different PC and mobile operating systems that is connected to the Internet.
The Bankaroo application allows users to:
- Create checking, savings, and charity accounts for kids to track their allowance, gift or chore money.
- Help kids save up for big purchases and see how money goes into and out of their Bankaroo account.
- Use the Bankaroo mobile app to keep track of kids’ balance on the go.
- Interact with Bankaroo in multiple languages and currencies including hearts, stars, and points. Saving goals - Kids are encouraged to set their own saving goals.
- Allowance and more - Bankaroo can help manage kids allowance and other recurring
- activities, such as weekly saving toward a goal, subscription payments and more.
- Bankaroo for schools - designed and developed with the help of teachers and school administrators to easily manage student accounts and to teach math and financial education.
What We Delivered: Archer Software delivered native mobile applications for iOS (iPhone, iPod and iPad) as well as native Android mobile application for Android phones and tablets. Other devices (such as BlackBerry and MS phones) are supported with a mobile HTML5 application.
Tools and Technologies:
"Archer-soft played a key role in building bankaroo and running it from day one.
It has been a pleasure working with the team, from developers to netOps.
Their creativity and dedication made it possible to use agile methods and tight budget.
Together we build a service that is used across the world by thousands of families and schools."