Virtual Piggy plans to utilize Bob's extensive experience of strategic planning and business development within the banking industry to assist CEO John Coyne in developing partnerships where banks will utilize Virtual Piggy's OINK branded financial payment platform, targeted at the under 17 year old market, and through that acquire a future base of loyal adult account holders prepared for responsible financial independence. The goal of the OINK platform is to transform the child influenced annual circa $800BB+ spending into direct spending capability. The platform is being developed using advance artificial intelligence techniques to target specific age groups that will not only drive direct spending but teach children financial skills that will prepare them for the future digital economy. For the first time, children and teenagers will now have the ability to make independent online and in store purchases as well as peer to peer transactions using Oink's Mobile Payment Platform while learning valuable lessons in financial literacy and responsibility. Through Oink's Artificial Intelligence based Mobile Software application parents will have the ability to not only monitor their child's spending by setting parameters and limits but also set realistic financial goals for their children to attain through the use of instant parent to child account transfers, creating virtual credit.
In regard to appointing Bob Marino, CEO John Coyne states, "Bob's extensive experience in banking and his network, developed over 30 years, will help us identify technology focused banks that have the vision to help prepare the under 17 market for their future adult responsibilities and also with the transaction history to prepare individualized financial products suited to this as yet untapped market."
Bob commented, "The financial world is changing rapidly and innovators in banking have been adapting to these changes. Preparing a new generation of account holders for these changes should be a priority for every financial institution. Oink's real time regulatory control functions anticipate the need for compliance oversight for this new generation of consumers and the vendors they transact with. I am pleased to be bringing this innovation to the leadership in my banking network of early adopters and financial services visionaries."
Based in Palm Beach, Florida Virtual Piggy Inc. holds three technology patents, US Patent No. 8,762,230, 8,650,621 and 8,812,395.
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SOURCE Virtual Piggy, Inc.