Kids are taught everything except a basic sense of finance. Singapore-based POSB Bank plans to change this narrative with animated shorts telling stories of Alice learning the value of sharing, Jill learning how to save for a magic bean, etc. These animated short stories are aimed to help kids develop a basic sense of finances in a fun and non-boring way.
The animated shorts were developed by The Secret Little Agency (TSLA) in collaboration with illustrators 8eyedspud. They have recently released the third story, Caleb and the Candy Factory. POSB plans to release more such shorts to teach finances to different age groups. The shorts can be seen on the company’s YouTube and Instagram pages.
Jean Yeo, senior vice president of marketing stated that these stories were targeted for the age group 4 – 12, and he believes that the concept of money management needs to be taught from a young age. Ad Nut, a global advertising agency, applauded the first two shorts and also the various downloadable activities for kids the bank was releasing.
However, the latest short has been criticized by the ad agency, as it shows Caleb going hungry in order to save for chocolate. They state that it might not be the right message for children. Indeed, children need to learn about saving, but teaching a child to go hungry can never end up well. While POSB stated that the Caleb and the Candy Factory short is meant for kids 8 years and above, it still remains a questionable lesson.
The DBS-owned bank is definitely taking a unique route to market themselves across ages, and it is indeed a great strategy. They plan to release more shorts throughout the year to educate different segments.