We believe and support the impact vision set by OECD and work to assist in reversing the downward global financial literacy trend for the next generation by engaging them early on.
Financial knowledge and behaviour are the two aspects of financial literacy most typically targeted by financial education initiatives. As per Principal 6 of the High-Level Principles for Digital Financial Inclusion and contributions to
G20 and Global Partnership for Financial Inclusion (GPFI) efforts, The FinKids prioritises the implications and challenges of digitalisation of finance in financial education as Generation Alpha and soon Beta (children born after 2010)
are raised in an environment of invisible money. Broken-down from OECD (Organisation for Economic Cooperation and Development) INFE Core Questionnaire (Annexure 1) used in 14 countries so far, The Project FinKids approaches children
awareness and development with complex topics from ‘finance and money’ in a creative and children friendly manner.
The FinKids commits to further enhance financial literacy through echoing the International Network on Financial Education (OECD/INFE) objectives to:
- Influence good financial behaviour
- Collect cross-comparable data and evidence
- Develop methodologies to measure impact
- Share experience and good practices
- Develop research and comparative analysis
- Promote effective implementation and monitoring
IDEA TO RESEARCH
Inspired from real-life experiences, The FinKids project was highlighted as an Idea to explore and research in the start of 2020. Before one could deny, extensive academic research and creative thinking ignited the mind and
confidence to pursue the opportunity at hand. Seeing the impact gravity and unusual circumstances in the COVID-19 crisis, the dedicated team of The FinKids worked the summer of 2020 to move the project swiftly from idea
evaluation to product creation stage.
RESEARCH TO PRODUCT MARKET FIT ASSURANCE
Onset of winters, The FinKids was accelerated by breakneck speed under the guidance of strategic and experienced venture builders. The venture building track enabled The FinKids to take an outside-in approach and enhance its
trajectory from a pure content provider to discovering a market position gap for an EdFinTech company. Very soon, The FinKids received a Product Market Fit Assurance from the venture builders as they evaluated the idea
in the current global market landscape using data backed strategic tools.
BUSINESS MODEL & PLAN
Catching steam, in no time senior business advisors holding experience of more than 20 years in the industry were hired in New Delhi and London to inspect and validate the business model assumptions. The financial plan took
into account cashflow management, R&D fund management, tax incentives and schemes available across the world to strategically plan incorporate date and place in the business plan.
BRAND STRATEGY: GO TO MARKET PRODUCT VISUAL
A few cold November nights in, The FinKids team member experienced in Branding and Market Strategy utilized strategic brand framework to create a visual representation for the Go-To-Market-Product. Experienced Brand Partners
the team had worked with before were looped in the exercise to develop important market material that highlights a crisp and clear value proposition and Unique Selling Point.
MINIMUM VIABLE PRODUCT & CUSTOMER LIFECYCLE
We are focused and on track to deliver speed to market minimum viable product. Before the year ends, the inspected transactional environment, specifically customer lifecycle of the product that incorporates 8 steps (Reach,
Involvement, Acquisition, Consideration, Conversion, Retention, Loyalty and Advocacy) shall be programmed using the relevant identified applications to assemble the digital product and integrate the front-end.
TRACTION AND EARLY-STAGE INVESTORS
To get maximized impact from the venture, a tested traction framework shall be implemented in the new year to evaluate and select from various distribution channels. The Venture Builders underwrite a portion of their stake
with angel investors. However, to move at our fast-track pace, we are actively networking with strategic stakeholders, partners and investors in our ecosystem to accelerate progress of our short-term goals in quarter 1
& 2 of 2021. Going forward, we plan to run parallel execution and product improvement lines in the remaining 2021 and would be happy to strum strings basis working relationship.
If this EdFinTech interests you
Please do not hesitate to write to us using the information provided at the end of this webpage.