Step Launches New Savings Features for Teens

Jan 6th, 2023Product
  • Step introduces Step Savings Goals and instant cash deposit feature at retail locations to enhance financial options for teens.

  • Teen survey indicates saving money is a priority with 87% saying it’s important, yet 57% currently have no savings.

  • The Savings Goals feature allows teens to set and track savings milestones, with parent participation encouraged.

  • During the beta phase, over 100,000 users set goals, with a significant portion regularly contributing to their savings.

  • Promotional offers and future enhancements like automatic savings roundups are planned to further incentivize saving habits.