MySA

Over 90% of UK adults have never received lessons on basic financial management. MySA (My Saving Account) addresses this through a mobile learning game and saving account for young people to develop positive behaviors around money, engage them early on with the financial system, and help them save for their future.

The MySA is a financial education game that embeds financial education content into an incentivized, fun, and interactive mobile learning experience. The game is structured around engaging young people while focusing on key messages and learning outcomes in relation to financial literacy. Additionally, the learning experience is linked to a mobile saving account that provides a widely accessible facility for young people to save and engage with the banking system.

Data, such as the frequency of saving and game scores, will feed back into the game in the form of points and drive the whole learning and saving cycle. These points will determine users ranking within various social circles (i.e. friends, school, bank, city, nation) based on which they can earn various financial and non-financial rewards. MySA will provide an engaging way for young people to assume ownership of their learning experience and connect their financial education to real-world results through saving. The more you play the game, the more you learn, the more you save.

Increasing financial literacy and developing proper saving habits at a young age will enable young people to stay in control of their personal finances, decreasing future debt and consequent burdens on individuals, government, and society.

Mike Mompi is Head of Strategy and Innovation at MyBnk, an award-winning charity providing young people with opportunities to build the knowledge, skills and confidence necessary to manage their money effectively and make enterprising choices throughout their lives. MyBnk created the first ever independent FSA approved banking scheme run by young people for young people, providing an accessible place to save regularly and interest free loans to set up enterprises. MyBnk are now leveraging mobile gaming and banking technologies to deepen its’ reach and social impact, and to remain at the forefront of effective and innovative financial education.

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