How they describe themselves: Bobber Interactive provides financial institutions a powerful, cost-efficient growth engine for new accounts and core deposits with the first social, viral money management platform designed for today’s youth. American teens represent $200 billion of discretionary income each year and reflect significant lifetime value, with 60% maintaining their banking relationship after college. Additionally, 81% of today’s youth play online games and 72% have profiles on social networks like Facebook. Bobber uses proven, “addictive” social game mechanics (progression, persistence, network participation and sharing) to motivate smart money management among this valuable demographic, while generating increased deposits, long-term savings and viral user growth.
What they think makes them better: The majority of teens today say managing their money is one of their top priorities (Schwab “Teens & Money” study), but existing options lack relevance, accessibility and excitement. With Bobber, teens benefit from a practical, tool-based framework for expanding their income sources, accelerating progress on their most important goals and enjoying an engaging experience they can share with friends and family. Parents benefit from a safe, convenient way to motivate their teens to build responsible habits around money. Partner financial institutions benefit from an innovative, cost-efficient driver of account generation and deposits growth, without disruption to existing IT platforms.