Spiral Toys has hopes that the combination of the Internet of Things technology and mobile applications in its toy piggy bank, Wiggy, will help make savings fun for kids.
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Wiggy was designed as a fun tool to help reinforce the concept of earning and saving money while rewarding children for a job well done.
Here's how it works. The program allows kids to tie their Wiggy bank, wirelessly to their savings account. Kids can use the Wiggy application to set goals, and track their savings progress. Parents can then set chores and tasks for the child to complete.
As the child completes tasks, money is transferred into the child's savings account.
Spiral Toys has plans to explore potential partnerships with credit unions and banks.
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