Gimi & ABN AMRO: Revolutionising Financial Literacy for Dutch Youth

Gimi & ABN AMRO have won the Best Fintech by a For-profit Organisation award at the highly competitive Money Awareness and Inclusion Awards (MAIA) 2024. This pioneering collaboration between a leading bank and a financial education startup is transforming the financial literacy landscape for children in the Netherlands.

“The Gimi & ABN AMRO partnership stood out among numerous strong entries this year,” said Trudi Harris, co-founder of the MAIAs. “Their innovative approach to financial education for young people is truly remarkable.”

Target Community: Reaching Dutch Youth and Families

The Gimi & ABN AMRO project targets children and teenagers aged 6-15, focusing on those underserved by traditional banking and financial education systems. With the Netherlands moving towards a cashless society, many young people are left without the necessary tools to understand and manage money effectively. This project provides a solution by offering a youth-adapted educational finance app accessible to both banked and unbanked children.

“We’re addressing a significant gap in financial education for young people,” explains Adam Brandt, founder of Gimi. “Our goal is to help families set the foundation for sound financial habits and norms during childhood.”

Making Money Accessible and Beneficial

Gimi & ABN AMRO’s collaboration combines the bank’s financial tools with Gimi’s educational app, integrating financial practice and education into the daily lives of Dutch families. The app encourages children to learn about money management through hands-on experiences, allowing them to earn, save, and spend within a controlled environment.

This practical approach helps bridge the gap between theoretical knowledge and real-life financial behaviours. By leveraging parental involvement, the project fosters financial socialisation, enabling children to learn by doing and discussing financial topics with their parents.

“Our platform provides a safe space for children to make and learn from financial mistakes without real-world consequences,” says Brandt. “We’re not just teaching financial literacy; we’re shaping a generation’s relationship with money.”

Innovation and Impact

The Gimi app is the first of its kind in the Netherlands, combining practical money management and education tailored specifically for children’s needs. Using Open Banking technology, parents can link their children’s bank accounts to the app without the need for technical integration, making it easy to use for families across the country.

The app’s features are based on four educational principles: hands-on, social, meaningful, and continuous. By gamifying the learning experience, Gimi encourages positive financial behaviours and makes financial education engaging and fun.

The project’s impact is already evident. Since its launch in January 2023, the Gimi app has reached over 10,000 active users in the Netherlands, with more than 20,000 downloads. Children complete an average of five in-app lessons in personal finance each month, and 85% of parents believe the app makes their children smarter with money.

“Our savings feature has significantly improved children’s financial behaviours,” notes Adam Brandt. “Research shows that 50% of our users actively use this feature, demonstrating a strong foundation in financial management and literacy.”

Testimonials: Real Stories of Change

The success of Gimi & ABN AMRO is best illustrated by the feedback from users. One parent shared, “My daughters (7 and 9) have learned so much about what money is! They are now saving for their own toys and cleaning their room with enthusiasm.”

Another child commented, “Gimi is great because you can keep track of your allowance. I recommend Gimi to everyone.”

These testimonials highlight the app’s effectiveness in making financial education accessible, engaging, and impactful.

Expanding Financial Literacy

Looking ahead, Gimi & ABN AMRO aim to educate 500,000 Dutch children in personal finance, scaling their impact significantly. With a potential reach of 2.5 million children between 5-17 years old, the project aspires to transform how financial literacy is taught and practised across the Netherlands.

“The promise of partnering with large financial institutions is the potential to achieve real scale and broad reach for financial education,” said MAIA co-founder Michael Gilmore, “and that’s exactly the promise Gimi is showing.”