Meet the App That Wants to Help Build Your Savings

The video introduces Capital, a banking app that leverages automation and behavioral economics to help users save money by setting financial goals. George Friedman, the CEO, explains the app's unique features, such as goal-focused user experience and the 'pay yourself first' approach. The app has shown significant success in helping users save more compared to traditional methods. It targets a wide demographic, primarily millennials, and offers a tiered pricing model with no hidden fees. The company plans to expand its membership base and enhance user financial habits.

What is the primary focus of the banking app discussed in the video?

• Helping users manage their finances through goal setting

• Providing loans with low interest rates

• Offering high-interest savings accounts

• Offering cashback on purchases

What age group is the average member of the app?

• 27 to 35 years

• 36 to 45 years

• 45 to 60 years

• 18 to 25 years

How does the app make saving money a positive experience?

• By focusing on the entitlement to save

• By providing discounts on purchases

• By offering rewards for not spending

• By limiting spending options

What is the monthly fee for the complete membership tier of the app?

• $3

• $6

• $9

• $12

What is the company's approach to fees and customer alignment?

• Providing services for free with ads

• Charging a low monthly flat fee with no hidden fees

• Offering free services with hidden costs

• Charging high transaction fees