Akudo

Akudo is an application-based digital bank offering an application created to evaluate the spending of young consumers. The platform enables teenagers to receive personalised prepaid cards, as well as finaincial education. The consumers are incentivized to manage their finances through the provision of rewards in a gamified environment, when they gain experience with personal finance.

Based in India, the payments app for students features UPI payments and a personalized VISA prepaid debit card. The digital wallet allows teenagers to spend online and offline with account limits of about INR 2,00,000 every month. The app also offers insights into a user's spending habits and customer support for assistance with arising issues.

Users are able to withdraw at ATMs across India and enable autosave. The platform allows parents to onboard themselves and their children to manage their child's expenses. They can add money to their child's Akudo account and control the account with blocking and unblocking options from the app. They can also set up tasks and chores for their child and reward them upon completion.