Students design financial app for youth

Tauranga Girls College Students Jacqui Morgan, left, Emily McCarthy, Shannon Lee and Lauryn Hill of Perpetuum Enterprise want the app to be useful for young people. Photo / John Borren

The financial world can be scary for young people, but a group of Tauranga Girls' College students aim to combat this with a well-designed cellphone application.

Young Enterprise Scheme students Jessica Corkery, 18, Kaylie Hunt, 18, Emily McCarthy, 17, Lauryn Hill, 17, Shannon Lee, 17 and Jacqui Morgan, 17, got together and formed their business Perpetuum Enterprise to compete for the national Young Enterprise competition.

Through their business, the girls designed a financial literacy cellphone app targeted at young people.

Chief executive Emily said the group came up with the idea so youth could make the most of the opportunities of life without financial barriers. They wanted to make the app free so it would reach a large number of people.

Emily said the group realised they needed the backing of a business and had hoped to partner with a bank that would buy the content from them.

On September 9, the group travelled to Auckland to present their pitch to ASB Bank.

"We pitched to about four of their digital managers, who were really impressed. They weren't able to purchase the app this time, but there is definitely scope for an ongoing relationship between Perpetuum and ASB.

The group was also considering creating a website with the same purpose.

Perpetuum will be heading to the Young Enterprise Scheme regional wards in October. If they do well, they will go to the national finals in December.