Doconomy, an impact fintech company providing banking platforms with innovative tools to drive financial wellbeing and actionable sustainability, has announced a partnership with European bank, KBC.
KBC sought to find the best solution to help younger generations – in particular those aged between 18 to 25 – “improve their financial wellbeing in a sustainable way and achieve their savings goals.”
Integrated into KBC’s mobile app, Doconomy’s saving module allows users to set personalized dreams, “develop new saving habits through interactive features that support these goals, and track their progress towards them.”
Karin Van Hoecke, General Manager for Digital Transformation & Data at KBC Belgium said:
“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.”
Whether purchasing tickets for a concert with friends, or planning to buy a house, users can “set the short or long-term dreams within the banking app.”
These dreams are then visualized and brought to life, with Doconomy’s feature providing tailored, “achievable saving plans that offer ways to reduce expenses and nudge people towards saving small amounts more frequently.”
Data from Doconomy revealed that, in October 2024, the most popular dreams entered into the platform were for a new home, followed by money saved for a rainy day, and a new car in third position.”
Other dreams also included holidays, smartphones and home renovations.
Mathias Wikström, CEO at Doconomy, commented:
“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.”
Bringing financial wellbeing tools into the 21st century, saving options include green save hacks, more spontaneous and fun options, such as “setting up a weekly automatic surprise saving, or enforcing a positive association with savings, including saving a set amount each time a person’s sports team wins.”
Alternatively, users can opt for the more traditional approach, with “Save smart” options that set aside a portion of “a person’s salary each month or save a set amount every week.”
As noted in the update, KBC is one of the financial groups in Europe. It is a multi-channel bank-insurance group with a geographic focus “on Europe, catering mainly to retail clients, SMEs and local midcaps.”
The group occupies significant positions in its core markets of Belgium, Czech Republic, Bulgaria, Hungary and Slovakia.
The KBC group has established a presence in “a number of other countries and regions around the world.”
KBC Group employs around “41000 staff and caters for about 13 million clients in its core markets.”
KBC Group NV is listed on Euronext Brussels.