How they describe themselves: Kiboo is an alternative banking/payment platform designed for teenagers, young adults, and their parents that combines real-time access to checking and savings accounts with rich, customizable tools for budgeting; access to our retail partnerships; participation in social causes and philanthropy; and a vast library of targeted personal finance information.
Kiboo empowers young people (representing $200b in spend annually) and their parents to reach and retain financial independence. Blending social media tools with personalized information and a secure system that both learns and teaches, Kiboo is a values-based alternative for this transitional demographic.
What they think makes them better: Kiboo will convert and retain this coveted but elusive demographic by offering services, tools, and information which has been wholly customized for them based on their world view, social values, vernacular, and aspirations of independence.
Whereas conventional banks have offered few targeted products for this customer group, and other financial websites provide advice but few real-world services, Kiboo leverages both competitors’ missed opportunities.
Kiboo benefits our bank partners with sticky core deposits; we mitigate interchange fees and prevent fraud losses for our retail partners; and we provide our users with safe, secure access to their money and relevant financial information.