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Skryk, a startup that launched at TC 50, has build a online banking platform called iThryv for kids as young as 5 years of age. The idea is to get kids involved with banking by having them get their hands dirty with artificial currency.

iThryv uses all the web 2.0 goodies and involves customizations to enable kids to change the look and feel, notifications and also has widget support. Kids and adults could set goals, track and monitor categories in which they have made the most expenditures. Users could also their categorize spending into “wants” and “needs”, receive spending alerts and gather points that could be re-deemed at incentive stores.

As a special precaution for kids, their version of the platform does not include credit cards or any real means of payments. But once they turn 18 they could access these options and keep the previous “savings scores” which is something similar to credit ratings that other users in the system could see.

iThryv is not a banking system per see, but it can connect to financial institutions. The company intends to market it for free to schools to help them teach kids how to manage finance, and plans to sell it to financial institutions.

The company has raised $ 600,000 in angel financing till now and is based in Edmond, Oklahama.

You can watch their TC 50 launch video below: