TechCrunch50 started with a winner from iThryv.com, developed by Shryk.com and launching on September 10th. The service provides financial services for kids, teens, and young adults. As a parent of tweens, I’m definitely interested in this service as I’m keen to raise financially responsible kids. Some nice features include being able to classify spending for tweens as “wants” versus “needs” so that they can look back on their decisions and think if they had made good choices.
The presentation also showed how the service can be used with teenagers, and here I’m a bit more concerned because iThryv will have to link into existing bank accounts, requiring the participation of banks. And iThryv’s extension to young adults (18 to 24 year olds, who have a purported bankruptcy rate of 25%) seems even less likely given that they are unlikely to use the same service as their younger siblings and cousins.
To that end, I think iThryv.com can carve out a healthy business by focusing just on the financial needs of tweens. It’s definitely a step up from Bank of Mom and piggy banks, and with Web savvy kids, I can make financial planning a bit more like a game, fun even!
And the kicker: iThryv.com will be given for free to schools and educators to be used in teaching financial awareness in schools. If for no other reason than this, I hope iThryv.com succeeds. It would go a long way to teaching the next generation how to achieve financial independence.