WSFS Bank collaborates with Greenlight to scale financial literacy

As of the announcement, WSFS Bank clients benefit from complimentary access to Greenlight’s family finance app, providing more kids and teenagers with financial experience that supports them in developing positive money habits. Additionally, WSFS Bank underlined its commitment to enabling clients to make informed financial choices. The financial institution’s team focuses on guiding clients toward their financial goals and teaching financial literacy in the community.

Besides collaborating with financial industry participants, WSFS Bank has also launched several solutions throughout the years. Most recently, more specifically in April 2024, the financial institution rolled out Early Pay, allowing customers to receive eligible direct deposits early from their employers and recurring government benefits, such as Social Security payments, up to two days in advance.
 

Scaling financial literacy among the younger population

By partnering with Greenlight, WSFS Bank aims to further advance its commitment, providing an interactive way to teach kids and teenagers essential money management skills and assisting them in building a solid foundation for lifelong financial success. Greenlight focuses its efforts on delivering a debit card and app that explains how kids and teenagers should earn, save, give, and spend. By utilising the Greenlight app, parents can send money, automate allowance payments, manage chores, set flexible spending controls, and receive real-time notifications of all transactions, among others. Through this, kids can benefit from hands-on money management experience, together with access to Greenlight Level Up, an in-app financial literacy game that includes educational challenges and rewards.

Furthermore, the partnership between WSFS Bank and Greenlight allows kids and teenagers to manage their debit card with parental oversight, use their card where Mastercard is accepted, set and track savings goals in real-time, receive funds from family and friends through Pay Link, set up direct deposit for jobs, and add their card to Apple Pay and Google Pay.