And as the new kid on the block, we thought it might be a good idea for us to introduce ourselves to you. Especially since we’re launching in Beta in a few weeks time.
So, now for the big question. What is Rise?
Rise is the money app & debit card for teens, managed by parents. We are reinventing financial tools to enable a financially savvy generation to spend, save and invest their money with confidence. Rise offers a teen-friendly banking app containing spending, savings and later on an investment account. All-in-one, all simplified. Financial skills are worth practising at all ages, and we believe that every teenager should be enabled to manage their finances the day it matters to them. Our aim is to help teens grow their money skills while keeping it fun, engaging and trendy.
The dedicated parental interface helps parents to create a safe environment for their teens to learn about money. Parents can set flexible parental controls not available with most banks. And a simple, clear view of their teen’s financial world, complete with real-time transaction alerts. All in one app.
Why was Rise founded in the first place?
Rise was founded on the basis of improving the financial literacy of the new generation and helping them manage their money with confidence. Personal finance is not taught in school and is often a difficult subject to talk about at home, so the most important thing for us is to provide a solution to enable teens to get better with their money and to take control of their financial future from an early age/point.
However, the traditional banking solutions of today are lagging behind in terms of helping teenagers out. Simply put, banks aren’t well equipped enough to help teens navigate the world of finance with confidence.
And that’s where we come into play. So, what’s our mission at Rise then?
We’re enabling a financially savvy generation to spend, save and invest money with confidence. The beauty of Rise is that we’re built for the next generation, by the next generation. We firmly believe that no matter how young you are, or how much money you have, financial skills are always worth practising. If you’re confident and knowledgeable about finances from an early age, you’ll be more likely to set yourself up for financial success in the future.
And what do we have in place to do this? I’m glad you asked.
The main idea is that we adopt an active approach to practising money management early on. Instead of offering classes or help on economic and financial theory, we came up with a super cool neo-bank and simplified financial concepts to manage your finances on your own and from the day it matters to you.
Our mobile experience is optimised for teens, and it’s a simple concept: one account for saving, one for spending and later on one for investing. With our smart spending account, you can track all purchases and subscriptions in real-time, request funds from a parent and control your own budget. With our savings account, you can automatically save a part of your allowance, set up saving goals, easily set aside one-time investments and earn interest on your savings paid by parents.
Now Mum and Dad, don’t worry, we’ve made this app with you firmly in mind as well.
Our dedicated parental interface creates a safe environment for your teenager, which we know is extremely important. Keeping the parent in mind is also crucial to us, as you are the ones that are helping to raise this next generation of financially smart teens. That being said, you can have your child’s back at any time by setting rules and limits with the parental controls, which are simple and not overly restrictive. And if there’s any suspicious activity or the card happens to get declined for any reason, rest assured that you’ll be alerted instantly. Managing the finances of the whole family is now possible with a few simple taps, making day-to-day finance easier than ever.
Is Rise really secure?
In short, yes, we are really secure.
We are a regulated financial institution, working with trusted partners to help us operate with a security-first mentality. At Rise, we have implemented many features to make sure that your funds are protected, safe and secure at all costs. We work with experienced people along with having an internal team that specialises in looking at data privacy and compliance. We also use 3D Secure to provide an additional security layer for any transactions, and two-factor authentication is required upon logging into your Rise account.
We are also in the process of getting regulated by the Autorité de Contrôle Prudentiel et de Résolution — ACPR (a French financial supervisory body), via our financial partner Treezor (Société Générale).
So, now you know all about us and how we’re planning to create a financially successful generation. What’s next? Stay tuned and look out for us on all our social channels — in the meantime, you can subscribe to the Rise waiting list via our website: https://risecard.eu/