DURHAM — While a student at Duke University, Bolun Li came up with the idea for Zogo — a new mobile banking app that teaches teenagers how to manage their finances and establish good habits early on.
This week, the 20-year-old will be among those presenting as part of the Metlife Digital Accelerator powered by Techstars Demo Day at Market Hall in Raleigh on Thursday, October 10 starting at 6 p.m. His startup, Zogo Finance, was the only company from North Carolina that was selected for the 13-week immersive program.
WRAL TechWire’s Chantal Allam recently had the chance to catch up with him before the big day. Here’s what he had to say:
Talk to us a little bit about your company, and how you got started.
We started the company two years ago really trying to solve our own problem, that growing up, no one taught us anything about financial literacy. Parents didn’t really talk about 401k or credit score at home, and my team all took some forms of financial literacy class in high school, but they are just so lectury and boring and ineffective.
Later we learned that banks and credit unions spent millions of marketing dollars sponsoring these classes every year trying to put their brand in front of GenZ, but it’s probably not the best strategy.
So we really put our teenager’s hat on and start developing this financial literacy app that can not only make learning fun but also help financial institutions better reach and engage GenZ.
And after many pivots, our solution is a financial literacy app that pays kids to learn.