his North Carolina startup says the key to teaching financial literacy to Generation Z is simple: games and incentives.
Meet Zogo Finance, a Durham-based fintech startup founded by a Gen Zer himself, recent Duke University grad Bolun Li.
Since launching its gamified financial literacy app back in 2019, it has hit 300,0000 users, 7 million module lessons completed, partnered with 85 financial institutions, and, most recently, started a pilot program with American Express.
“Our partnership with American Express was a major breakthrough as the first global financial institution to bring us on as a partner,” Li told Hypepotamus.
“It also signaled the importance of how banks, credit unions, and other FIs (financial institutions) are increasingly interested in engaging with next-gen audiences and winning over the Gen Z consumer.”
The startup is planning a number of launches with other major financial institutions. There are also plans to start expanding into other sectors beyond finance.
“So stay posted,” says Li.
Back in 2013, Bolun Li was a high school foreign exchange student from China living in Boston, Massachusetts.
To cover his expenses, his parents gave him a credit card – much to their detriment.
“By the end of the month my parents would show me the big red statement, and I would have no clue how I spent so much money,” recalled Li.