KBC taps Doconomy to drive sustainable financial well-being for Gen Z

By Gloria Methri

Doconomy, a sustainability-driven Swedish FinTech company, has announced a new partnership with European bank KBC.

KBC sought to find the best solution to help younger generations – in particular, those aged between 18 to 25 – improve their financial well-being sustainably and achieve their savings goals.

Seamlessly integrated into KBC’s mobile app, Doconomy’s tailored saving module allows users to set personalised goals, develop new saving habits through interactive features that support these goals, and track their progress towards them.

Karin Van Hoecke, General Manager for Digital Transformation & Data at KBC Belgium, said, “By integrating Doconomy’s saving module, we actively help our customers get the most out of their money by inspiring them with relevant saving goals and offering fun ways to reach these dreams, such as saving automatically when your favourite football team scores a goal or saving on a weekly basis with a surprise amount. These small but consistent efforts accumulate into a significant amount over time, leading to positive changes in both spending and saving behaviour.”

Whether purchasing tickets for a concert with friends or planning to buy a house, users can set short or long-term dreams within the banking app. These goals are then visualised and brought to life, with Doconomy’s feature providing tailored, achievable saving plans that offer ways to reduce expenses and nudge people towards saving small amounts more frequently.

Mathias Wikström, CEO at Doconomy, said, “Our recent research revealed that for a quarter (25%) of Gen Z, getting in control of their finances is their main priority this year, and a further third (32%) agree that having a specific savings goal makes them less likely to spend money they save. By integrating our technology, KBC shows its commitment to financial literacy for all generations, and we are very proud to be contributing to their market-leading ambition.”

Bringing financial well-being tools into the 21st century, saving options include green save hacks and more spontaneous and fun options, such as setting up a weekly automatic surprise saving or enforcing a positive association with savings, including saving a set amount each time a person’s sports team wins.

Alternatively, users can opt for the more traditional approach, with “Save smart” options that set aside a portion of a person’s salary each month or save a set amount every week.