Chapter 11: Digital Youth Banking: Facing the Future

Despite the worldwide strides in advancing financial inclusion amongst the youth, a significant percentage of the population is still financially disadvantaged. While traditional banks have long offered basic financial services to the younger generations, a further opportunity has been spotted to provide better and slicker digital banking to tech-savvy kids and teenagers. This chapter summarises the ongoing development of Digital Youth Banking while highlighting its latest trends. It then explores challenges and opportunities relating to digital youth banking from the accessibility, practicability, and sustainability perspectives. This chapter further presents three exemplary cases to highlight the unleashed potential of digital youth banking from the traditional bank, neobank, and fintech points of view before setting out a series of recommendations to ramp up the endeavours towards financial inclusion of young people in society.