Apple highlights financial wellness apps in new feature

Apple recently announced plans to share and merge credit lines on Apple Card.

What you need to know

  • Apple has highlighted three new financial wellness apps and their respective developers in a new feature.
  • It comes following Apple's changes to Apple Card, announced last week.

Apple has highlighted three financial wellness apps and their developers just days after announcing changes to Apple Card that make its credit lines fairer for couples and co-owners of a card.

In a release today Apple stated:

Ask Tanya Van Court, CEO and founder of the family and kids savings app Goalsetter, about the challenge of gaining financial literacy in America, and she'll talk about learning a foreign language. The Stanford engineering graduate and daughter of an Oakland, California, elementary school teacher, Van Court believes that without financial literacy fundamentals, today's kids can't learn the tools they need to bridge the wealth gap and ultimately be successful in their futures. Van Court is just one of a handful of developers and founders whose apps on the App Store pave the way for generations of historically disadvantaged people, including Black and Brown kids and their families, college-bound young adults, and women, to secure their financial freedom. From Goalsetter to Perch Credit, the credit-building app that turns 21st-century expenses into creditworthy data points, to Ellevest, a financial app designed for women by women, generations of Americans are taking their financial journeys into their own hands — literally.

Apple says Goalsetter is one of the first Black-woman-owned fintech and financial education apps, helping to engage kids on the topic of financial wellness:

Goalsetter engages kids in a uniquely relevant way: helping them start a savings account and using quizzes, GIFs, memes, and culturally relevant partnerships with celebrities and institutions to teach them and their families about saving, spending, building personal wealth, and more. For one national campaign with a mission to get 1 million Black and Brown kids saving, Goalsetter has partnered with several organizations equally committed to changing the financial futures of Black and Brown kids and families.

Apple also highlighted Perch and co-founder Michael Broughton:

Michael Broughton, CEO and co-founder of Perch Credit, which first launched on the App Store in January 2021, agrees. "Accessibility is one of our core values: How can we bring Perch services to the masses without a big barrier to entry?" he says. "We knew we needed to be where everyone's pockets are." Perch uses monthly expenses as credit builders, working with the three major credit bureaus to establish rent and subscription bills as viable data points for creditworthiness.

Last week at its April event Apple announced changes to Apple Card that should make credit lines fairer for co-owners of an Apple Card, as well as a new Apple Card Family feature to help manage family spending.

Tags
Technology