Amex targets Gen Y with social Currency - personal finance advice site

Amex targets Gen Y with social Currency - personal finance advice site

American Express has launched Currency, a personal finance advice site for "young adults" that offers blogs on spending and saving from experts, money management-related courses and an iPhone app developed with Foursquare.

Built with Federated Media, the site has signed up over 25 personal finance writers to offers Gen Y and X visitors guidance in three categories: "big decisions," "planning and savings," and "spending". Amex is promising around 20 new articles a week with user feedback playing an integral role in shaping the content.

In addition, the firm has teamed up with Knowledge@Wharton, the University of Pennsylvania business school's online journal, to offer personal finance courses. The site currently offers six courses including "managing student loans" and "buying your first home". Users earn "stars" for completed coursework with a leaderboard showing who has got most.

Meanwhile, an iPhone app gives Foursquare users the ability to share information and photos related to their spending and saving, including news on recent purchases, "want-to-haves," and store sales. Users can earn points and unlock badges to tell friends if they are looking for bargains or enjoying a night out on the town.

Pepper Evans Roukas, VP, digital brand and social media development, American Express, says: "Gen X and Gen Y navigate a financial minefield far different from what their parents faced - and yet often the advice available to them does not meet their needs. With Currency, we have brought together best-in-class partners, a youthful point-of-view and voice, and a rich, innovative social media platform to help empower visitors to the site with the knowledge and savvy it takes to attain financial success."

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