DCB Bank and Slonkit, money management app linked to a VISA Card, have partnered to offer Slonkit Card to educational institutions across India. The money management firm partners with colleges from all major cities and towns in India under the Slonkit Campus Partnership Programme (SCPP), said the company.
Under SCPP, students are given with a Slonkit VISA Card linked to the Slonkit mobile app. The card can be used anywhere in India – both online and at merchant outlets. Students can pay their college fees and make miscellaneous payments using the card. They can also avail offers at national and hyperlocal merchant outlets. The app enables students to create budgets and to track and analyse their expenses across categories such as food, travel, shopping, entertainment, etc.
Slonkit also enables these colleges to monitor “expense” reports at “in-campus” merchants. It empowers colleges with a robust digital channel to communicate with students in real-time. Students receive these communications as notifications on the mobile app. RFID enable card can equip educational institutions to manage access and attendance easily as well.
“Financial prudence is a means to enjoy a good lifestyle. It is important to inculcate this habit at a young age. Slonkit enables teenagers and young adults to practice smart money management and financial prudence. Allying with educational institutions will drive adoption of this nifty digital and cashless payments solution for individuals and institutions as well,” said Praveen Kutty, Head – Retail and SME Banking, DCB Bank.
Javed Tapia, Founder, Slonkit, said, “Slonkit caters to the essential yet unaddressed area of teaching financial prudence to the next generation. It engages students digitally and empowers them to learn and practice smart money management. Slonkit enables education institutions to seamlessly manage fee collection, in-campus payments, attendance, and communication with students. With DCB Bank, we will create India's largest cashless ecosystem focused on the education sector.”
