Quirk’s innovative approach to identify and reflect each customer’s personality type and their specific financial situation enables it to help each customer - free of charge - to learn, track and grow their money in ways that make sense to them individually and to Gen Z collectively.

Quirk’s core strength is understanding Gen Z and being able to demystify finances for them, by taking a uniquely personalised approach, built with support from expert psychologists.

To do this, Quirk’s app is the first that uses a personality test - based on well-accepted psychological principles such as the “big five” personality traits - to understand its users far more deeply. Combined with Quirk’s understanding of the user’s financial situation via Open Banking, each customer enjoys educational support, budgeting and planning tools, and actionable financial guidance personalised more precisely than ever available before.

The result is that Quirk’s customers don’t just come to it to bank, budget, save or invest - they come because it helps them figure out what they should do with their money, for their specific life situation now and in the future - something Quirk’s competitors haven’t solved for them.

Nafeesa Jafferjee, co-founder and Chief of Product at Quirk, said, “There is no ‘one size fits all’ answer when it comes to learning about and managing your finances, and this is especially true for Gen Z. What should I do with my savings? What’s the difference between good debt and bad?

“A lot of young people we talked to felt there was a lot of information out there but it lacked the context of their financial situation and guidance on what tangible actions they should take. Using all the capabilities that online technology can offer, we’ve built Quirk as a uniquely effective new solution, and the evidence so far is Gen Z loves it.”

Quirk has already built up an impressive following since its beta launch last year, mainly via its TikTok and Instagram community, (already 35,000 strong) for whom Quirk’s founders have become ‘Finfluencers’, using just their own home-grown content.

So far more than 40,000 people have taken Quirk’s financial personality test, with 86% saying it reflected them accurately. And to date, using just TikTok and Instagram, Quirk has already attracted more than 10,000 active users. So far, 56% of Quirk’s customers are women, dwarfing the 20% typical at most fintechs.

Nikos Melachrinos, co-founder and CEO at Quirk said, “Gen Z has been badly neglected because most of the finance industry is focused where they will make the most money, on older and wealthier people. But Gen Z will soon make up 40% of global consumer numbers, representing $140 billion in spending power.

“Given that 86% of young adults say they do not feel financially literate, the potential for Quirk to help them radically improve their financial well-being, now and long into the future, is huge. Our success already - in terms of customer numbers, loyalty and grateful feedback - makes each new customer feel like the ‘beginning of a beautiful friendship’ that will be to our mutual benefit for a long time.”