Bank of Hawaii recently announced it has partnered with Greenlight Financial Technology, Inc., a fintech company with the mission of helping parents raise financially smart children. BOH customers will soon have access to Greenlight's finance app, according to the announcement.
"This app provides a safe environment that teaches keiki how to manage money in real-world situations with the guidance of their parents," Bank of Hawaii Chairman, President and CEO Peter Ho said in a statement. "It is a win-win for the family — the digital app teaches kids about money in a format they understand as digital natives and helps parents raise financially savvy children."
Greenlight offers a debit card and an app that teaches kids and teens how to earn, save and spend money. Using the app, parents can send money, automate allowance payments, manage chores, set flexible spending controls, get real-time notifications of transactions, and more. The app also features a financial literacy game, according to BOH.
Thirty states currently require high school students to complete a personal finance course, yet Hawaii is not one of them, according to the Council for Economic Education. For more than a decade, BOH employees have taught financial literacy at Hawaii's public schools, according to the announcement.
For more information, visit www.boh.com/greenlight.
