Bankinter captures over 100,000 customers in the first year of its commercial line for young people
'bk' is the line created by the Bank to offer global financial services to customers under 35, with specific products tailored to each age group.
The Bank's offering for young people includes tools to help them find their feet in the investing world, such as 'Game of Traders' which attracted the participation of more than 2,500 university students.
Bankinter captured 103,000 customers in the first year of 'bk', the commercial line for young people which the Bank has developed to offer specific financial products and services to the under 35s. Reached at the end of October, the figure confirms the success of the project through which Bankinter is seeking to expand its base of younger customers by focusing on digitalisation, financial training and value-added products.
This line of business, which has its own space on the Bank's website and app, is aimed at three different groups: the children of existing customers, university students between the ages of 18 and 24, and young professionals under the age of 35. For each age group, the Bank has designed an adapted portfolio of savings and investment products, financing, payment methods, discount programmes and even introductory training activities to learn more about banking and financial markets.
For the youngest group, the under-18s, the Bank has created 'bk mini', which comprises simple products like an account, a debit card with parental control, and savings plans to help parents plan the financing of future projects, like studies, for their children.
To help children learn the basics about banking, such as spending, income and savings, parents can give them read-only passwords so they can view their account and set up a regular deposit through the 'Bk pocket money' service. And children and parents alike can play a financial education game called 'Money Town' to learn about all of these concepts.
The line for young adults is 'bk youth', which is aimed at two specific age groups: university students between 18 and 24, and professionals under the age of 35. Both groups have adapted products such as the bk Youth and bk Salary accounts with linked cards. Apart from the convenience of direct deposits and debits, the bk Salary account has the added advantage of bearing interest.
For young university students, the Bank has designed an introductory game to the world of equities, called 'Game of Traders', the first edition of which attracted over 2,500 participants from more than 80 Spanish universities and academic institutions. The game has a substantial educational component and a graphical platform through which the players act as real traders. Most of the participants in the first edition of the game had no previous experience of trading, but thanks to an environment that simulates real market performance they were able to find their feet in the investing world.