back Back

Investment app Nosso launches child gifting service

By Gloria Methri

December 08, 2022

  • FinTech
  • Holiday Season
  • Investment App
Share

Nosso, child gifting service, children's investment account, UK, Christmas, holidaysNosso, a UK FinTech providing children’s investment accounts, has launched a new gifting service to ease the setting up of investment accounts this holiday season. The newest service enables extended family and friends to gift an investment account to children before it has been set up.

Nosso attempted to respond to a research which found that 49% of parents and families said their child had no savings or investment accounts set up.

Youssef Darwich, Nosso’s co-founder and CEO said, “Despite parents, family, and friends agreeing that giving money over a physical present to children would be preferable, many still see it as awkward and lacking the personal touch.

“We want to change the perception that gifting ‘cash’ holds less meaning. Our app enables families and friends to gift investments and personalise these with images and messages. With our new gifting service, we are allowing any friends or family to take the initiative and start investing.”

The gifting service can be used by anyone who wants to start building an investment pot for a child’s future. Friends and family can use Nosso’s app or site to send the first contribution, along with a personal message and digital gift card, which they can then share with the child’s parents to activate. Nosso describes the process as straightforward and memorable, overcoming perceptions of giving money as a gift being impersonal or awkward.

The FinTech’s research finds that family members and friends who make some sort of investment or savings on behalf of a child contribute around £1,700 each year. If families were to save this average amount into a Junior Stocks and Shares ISA from the child’s birth, their investment could be worth around £57,000 by the time they reach 18.

Previous Article

December 08, 2022

LuckyTruck announces the launch of its first credit card for SMB trucking companies

Read More
Next Article

December 08, 2022

ZebPay reappoints Rahul Pagidipati as CEO

Read More










IBSi Daily News Analysis

January 27, 2023

FinTech

Embedded finance, Web3 to trigger FinTech investment in 2023 amid looming recession

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

January 27, 2023

7 FinTech tweets you should see!

Read More

January 27, 2023

Open Ecosystem RegTech Konsentus launches into MENA

Read More

January 27, 2023

Klarna provides overview of spending in 2022 with ‘Money Story’

Read More

Related Reports

Sales League Table Report 2022

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q4 2022

£1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q4 2022

£1,500.00 / year

Know More
Global Transaction Banking Vendors and Landscape Report Q4 2022

£1,500.00 / year

Know More
Treasury & Capital Markets Systems Report Q4 2022

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2022