ASB gives piggy bank a digital makeover

ASB gives piggy bank a digital makeover

New Zealand's ASB is bringing the piggy bank into the digital, cashless age, ditching the coin slot for a display screen that helps kids keep track of their pocket money.

The six inch tall, yellow, elephant-shaped Clever Kash moneybox is linked to ASB's mobile app via bluetooth, enabling parents to swipe virtual notes and coins into it from their phones. The balance and other information, such as the reason the funds were given, is displayed on a screen on the elephant's belly.

ASB says that in an increasingly cashless age, where parents often dole out IOUs, the new toy - still in development - will help teach kids about money and keep them motivated towards saving goals.

"Parents are telling us they're finding it challenging to teach their children about the value of money as they don't tend to use cash and coins for everyday purchases," Barbara Chapman chief executive, ASB, told Stuff. "Clever Kash is our solution to this challenge in an ever-evolving digital era."

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