A school software company says banks make it too difficult for teenagers to set up their own bank accounts.
A survey by MyMahi, which has almost 50,000 secondary school student users, found about a third of respondents didn't have their own individual bank account.
Many said bank sign-up processes which require verified ID and in-person branch appointments with a parent, are out-dated and too demanding.
MyMahi founder Jeff King says the end result is that thousands leave school without ever managing their own account.
He joins Kathryn to talk about digital ID solutions, saying banks need to get on board and walk the talk when it comes to encouraging financial literacy.
Photo: 123RF
