With new fintech products and services targeting every demographic and sector imaginable, one population remains especially enticing: teenagers. Members of Generation Z tend to be more trusting and enthusiastic of new financial technology than their older counterparts, and as this generation is starting to enter the economy in earnest, fintechs are racing to build Gen Z-targeted offerings.
As of December 22, U.K. fintech company Twig is that much closer to achieving this lofty goal. Hot on the heels of acquiring Loopster and Mobi.market, Twig has purchased teen-centered banking firm Vybe, a company that has made a considerable name for itself with services including instant cash access and other new and traditional banking services.
“With technology Vybe team built, we are able to offer our users a more comprehensive suite of services, including teen banking and financial literacy education,” said the Chief Executive Officer of Twig, Geri Cupi, in a press release on the acquisition. “This will help us better serve the Gen Z audience, and provide them with the tools they need to be successful in their financial lives.”