Teenagers today have an immense amount of spending power yet are often overlooked in the banking world, so 'Walrus' banking is positioned to help change this. Developed for teens in India, the service aims to provide younger consumers with a way to easily manage their money and make payments. This eliminates the need for them to use their parent's account to make purchases and increase their own sense of independence.
'Walrus' banking is also focused on the educational aspect of the experience and aims to empower youths by providing information that's easily understood and straight-forward. Users can receive money from their parents or other family members, which can also help open up communication regarding finances for families that don't commonly have the discussion.