Built by an in-house gaming team hired specifically for the task, ‘Money Quests’ comprises customisable avatars, rewards, and in-app quests designed to teach kids new financial concepts.

The mini games and nudges in Kit Money Quests will encourage kids to complete real-world tasks, such as setting up a savings goal, and introduce them to authentic scenario-based learning experiences, like identifying scam emails and text messages.

Yish Koh, managing director at Kit, comments: “We’re upping the game for how young people in Australia learn about money. While measuring the impact we’ve made over the last sixteen-months has proven we’re on the right track, we know gamification can make learning more enjoyable and impactful - and saw real potential to add this feature to Kit.”

The new release lets kids create a customisable in-game avatar to represent themselves in the Kit world. Initially, kids will be able to unlock over 70 unique assets when building their avatar, including clothes, costumes, facial features, accessories, and assistive devices. More assets will become available as new quests are released and completed.

Ther move into gamified learning marks the completion of a sixteen-month pilot phase for Kit, which was first unveiled in May 2022 and operates inside x15ventures, CommBank’s venture scaling arm.

With their own Kit account and prepaid card, kids can manage their own earning, saving, and spending. Kids can earn money on ‘chores PayDay’, create savings ‘Stacks’, access their money through an ATM and tap their card to make purchases. In Boss Mode, parents have access to overarching controls such as spend limits and card and PIN protection, which can be tailored to each child in the family.

Testing with thousands of users showed a 3-14% uplift in children's financial capability in just the first eight months of use, says Toby Norton-Smith, managing director, x15ventures.

“Improving the financial capability of young people in Australia is no small task, but it’s a mission that has galvanised Kit, x15 and CommBank since the beginning," he says. "In launching Money Quests today, Kit is a step closer to making that ambition a reality - where the next generation is better equipped to navigate the financial decisions they’ll face in the future.”