KBC and Doconomy partner to enhance financial literacy for Gen Z

January 2, 2025

Doconomy, a leading impact FinTech company that develops innovative tools for financial wellbeing and sustainability, has announced a partnership with KBC, a prominent European bank known for its robust multi-channel banking and insurance services.

The collaboration aims to empower younger generations, particularly those aged 18 to 25, by providing advanced tools to improve financial literacy and achieve savings goals sustainably.

KBC is a major financial group serving 13 million clients across Europe. It focuses on retail banking, SMEs, and midcaps in its core markets, which include Belgium, the Czech Republic, Bulgaria, Hungary, and Slovakia.

This partnership will see Doconomy’s saving module seamlessly integrated into KBC’s award-winning mobile app. The module enables users to set personalised dreams, track their progress, and develop effective saving habits through interactive features. Notable functionalities include automated savings triggered by specific events, such as scoring goals during football matches, and weekly surprise savings to keep users engaged and motivated.

Karin Van Hoecke, general manager for digital transformation and data at KBC Belgium, said, “KBC’s mobile app has been recognised by Sia Partners as the best banking app in the world, and our partnership with Doconomy forms part of our ongoing commitment to enhance user experience and integrate cutting-edge features that truly make a difference to our customers.

“By integrating Doconomy’s saving module, we actively help our customers get the most out of their money by inspiring them with relevant saving goals and offering fun ways to reach these dreams, such as saving automatically when your favourite football team scores a goal or saving on a weekly basis with a surprise amount. These small but consistent efforts accumulate into a significant amount over time, leading to positive changes in both spending and saving behaviour.”

Recent data from Doconomy highlighted the popularity of dreams related to a new home, rainy-day funds, and new cars among users in October 2024. Other goals included holidays, smartphones, and home renovations.

Mathias Wikström, CEO at Doconomy, commented, “Empowering younger generations to take greater control of their finances in a sustainable way and achieve their dreams has never been more important. Our recent research revealed that for a quarter (25%) of Gen Z, getting in control of their finances is their main priority this year, and a further third (32%) agree that having a specific savings goal makes them less likely to spend money they save. By integrating our technology, KBC shows its commitment to financial literacy for all generations and we are very proud to be contributing to their market leading ambition.”