GenFi: Unity Bank’s Innovative Solution to Empower Next-Gen Financial Leaders

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Unity Bank Plc has unveiled GenFi, a new digital banking platform designed to empower kids and teenagers between 8 and 18 years old with essential financial skills. The launch follows a report by the Central Bank of Nigeria (CBN) revealing that only 38% of Nigerian adults are financially literate, highlighting the urgent need for early financial education.

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The GenFi platform aims to reverse this trend by offering young users the tools to manage money effectively, track allowances or income, set savings goals, and develop smart spending habits with parental guidance. According to Ebenezer Kolawole, Acting Managing Director of Unity Bank Plc, “As the bank continues to evolve, the institution is constantly innovating with technology to enable us to drive more financial inclusiveness in different segments of the market.”

Kolawole explained that GenFi was inspired by the desire to nurture a financially savvy generation and empower them to make smarter financial choices. “GenFi is short for Generation Finance, and with this app, the bank is pioneering a solution designed to empower children and teenagers, particularly Gen Z and Gen Alpha, with essential financial literacy skills and a personal finance management solution,” he said

The bank’s initiative aims to address a critical knowledge gap among kids and teenagers while also catering to the strong passion of parents desirous to empower their wards with financial literacy. “GenFi is a market proposition that helps us address a critical knowledge gap among our kids and teens, as it also connects with the strong passion of parents desirous to empower their wards with financial literacy,” Kolawole added. With GenFi, Unity Bank is committed to promoting financial literacy and inclusion among young Nigerians

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