Apiture , a digital banking solutions provider, has introduced family banking through a partnership with a fintech company, Greenlight , to help financial institutions support financial literacy. By leveraging the Greenlight for Banks program, Greenlight's family finance app would now be available with Apiture's Consumer Banking solution.

This would help provide banks and credit unions with a full suite of family banking tools to help improve financial literacy for the next generation. Many banks and credit unions may lack access to the resources to create a digital banking experience for young people. As per the press release, Apiture is able to offer the Greenlight for Banks solution, providing its financial institution clients with family banking tools at no cost to their customers. According to Greenlight, 93% of parents say it is important for financial institutions to provide financial literacy education for their children. However, only 16% of them say that their current institution provides such services. Greenlight offers a debit card and app that aims to teach kids how to earn, save, give, and spend money, under parental supervision.

Using the Greenlight app, parents are able to send money, automate allowance payments, manage chores, set flexible spending controls, as well as get real-time notifications of all transactions. Kids get hands-on money management experience, along with access to Greenlight Level Up, an in-app financial literacy game with curriculum, educational challenges, and rewards. More About Apiture Based in the US, Apiture delivers digital banking solutions to banks and credit unions throughout the country.

Its solutions meet a wide range of financial institutions' needs, from levelling the playing field with larger institutions to supporting growth through data intelligence and Embedded Banking strategies.  With an API-first approach, clients are able to maximise the capabilities of their platform while preserving a good user experience. In July 2022, Apiture announced the closing of a USD 29 million fundraising round, with participation from other existing investors. At the time, the investment brought the total funding raised by Apiture to USD 69 million since its launch in 2017.

According to the press release, the company would use the additional capital to expand its sales and marketing efforts and accelerate product development initiatives. The funding would also help meet the market demand for the Apiture Digital Banking Platform, which serves more than 300 banks and credit unions throughout the US. More About Greenlight Greenlight is a family fintech company on a mission to help parents raise financially smart children.

In August 2023, the fintech launched Greenlight Family Cash to help teens build credit with their parents before they reach adulthood. Since 2014, Greenlight Financial Technology has been providing financial education and debit cards to its kid and teen customers. However, the company launched the Greenlight Family Cash Mastercard to help those same customers build their credit before they reach adulthood.

Teens could track their credit card balances on the app while parents set up flexible spending limits and get real-time purchase alerts. .