In a strategic leap towards fostering early financial literacy, Unity Bank Plc has launched GenFi, a dynamic digital banking platform designed specifically for children and teenagers aged 8 to 18. With GenFi, Unity Bank is not just promoting banking access for youth—it’s gamifying personal finance to build a generation of financially intelligent Nigerians.
The platform’s unveiling comes on the heels of a sobering Central Bank of Nigeria report that revealed only 38% of Nigerian adults are financially literate. Unity Bank is tackling this challenge from the roots—by equipping the next generation with critical money management skills before adulthood.
GenFi (short for Generation Finance) empowers young users to track allowances, set savings goals, develop smart spending habits, and receive parental guidance—all within a fun, gamified interface. The app integrates behavioural science principles to turn everyday transactions into learning moments, helping kids understand the value of budgeting, delayed gratification, and goal-setting.
Speaking at the official launch in Lagos, Acting Managing Director/CEO of Unity Bank Plc, Mr. Ebenezer Kolawole, described GenFi as a groundbreaking milestone in the bank’s retail banking journey. “As Unity Bank evolves, we continue to innovate with technology to deepen financial inclusion across all segments. GenFi is our commitment to grooming a financially aware generation equipped for smarter money decisions.”
Mr. Kolawole emphasized that the platform reflects Unity Bank’s belief in digital-first, youth-focused solutions. “This is not just an app; it’s a movement to close the financial knowledge gap among Gen Z and Gen Alpha.”
Mrs. Adenike Abimbola, Divisional Head of Retail and SME Banking at Unity Bank, echoed this vision. She noted that GenFi is more than a banking product—it’s a financial literacy ecosystem. “Financial literacy is not optional—it’s a life skill. And like all life skills, it must be learned early. With GenFi, we’ve created an immersive experience that builds financial independence, planning, and discipline in children from a young age.”
The app allows parents to monitor and guide their children’s financial behaviour, sparking real conversations around money and encouraging responsibility through digital rewards for completed tasks.
“Imagine a 12-year-old saving up for a bicycle. That simple goal teaches not just budgeting, but also patience, focus, and the power of setting objectives,” said Abimbola.
Feedback from the launch event highlighted the app’s impact. A student attendee, Master Ajayi Favour of Victoria Island Junior Secondary School, praised GenFi as an “innovative solution that empowers young people with financial intelligence and independence,” and expressed hope for its global expansion.
School proprietor, Sylvia Ezeora, described the app as “educational and motivational,” adding that it enables parents to actively reward good financial habits in their children. Parent and guest, Genevieve Adindu, applauded Unity Bank for replacing outdated savings methods like the traditional kolo with a modern, engaging, and scalable digital solution.
GenFi is poised to set a national standard for digital youth banking and financial inclusion, building a bridge between technology, education, and family values. The launch attracted stakeholders from the finance and education sectors, tech partners, media, and the next generation of digital-savvy bankers—the children themselves.
With GenFi, Unity Bank positions itself not only as a retail lender but also as a catalyst for generational change in financial literacy
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