Klarna announced the establishment of a partnership with Buddy.
The companies stated that the purpose of their joint activities is to provide consumers who belong to Generation Z with financial control tools that allow them to track expenses and spend money wisely.
The partnership of the two firms allows Buddy users to link their expenses and income from the bank to the application through Klarna Kosma. This is happening at a time when Generation Z consumers are using digital tools to track their well-being.
Buddy’s press release says that the partnership project of the two companies is a mechanism that allows customers to receive important information about the features of their behavior regarding expenses and effectively control the use of available financial resources.
The functions provided by the parties to the cooperation allow users to check account balances in real-time, track expenses, and set up payment reminders from one centralized location.
Olle Lind, the founder, and CEO of Buddy said that in the current period of existence, the main mission of his company is to transfer knowledge to young people about how to spend money wisely, avoiding unnecessary expenses. He also noted that thanks to the partnership project, individuals will be able to gain control over their finances. An easy-to-use budgeting application helps manage money during a period of difficulties in the global economy.
The results of numerous studies aimed at studying the behavior of consumers of financial services indicate that young people choose in favor of digital banking instruments because of their convenience and personalization. Young clients of financial institutions strive to create wealth and to have management mechanisms for their welfare.
The younger generation is interested in a wide range of pension resources for their initial investments.
As we have reported earlier, Klarna Reports $1 Billion Loss.