ERNIT Product Introduction at DTU ( Technical University of Denmark ) on 20.04.2017

1. Product Introduction & IoT Roadmap
Amandeep Midha (CTO, ERNIT ApS)

2. The world’s first
smart piggy bank

3. THE BEGINNING
Spend more than
they own
Survey from rent.com
of all children
have a low understanding
of the value of things
30%
Survey from Danske Bank
Experts

4. FIELD STUDY “This will help me save – and
my parents can help too!”
8 year old Peter

5. “It's boring just to save money.
This is something different. Now
I can see how much I have with
just one push of a button.”
9 year old Sandra

6. SOLUTION
App + Piggy Bank Convenient & ConnectedTouching Digital Money

7. THE EDUCATION BEHIND THE DESIGN
“ERNIT is a fantastic idea. I
work with families who
really need this.”
Child psychologist and PhD Christine Steerman
with over 30 years of experience in family
counseling.
“ERNIT uses all the
children’s senses to teach
them about money. An
essential part in teaching.”
Elementary school teacher and children’s
books author Dorte Sofie Mørk Emus
Financial visualization
Children’s economy writer
Communication expert
Certified Coach
Kids game developer
Gamification expert
Søren Nielsen Mads Tagel

8. APP

9. 4-6 year
Big versus small Goal. Learn how amounts affect
progress. Visual show goals getting filled. Learn
where the money goes.
+
“4 year old children
recognizee on average 100 brands”
Martin Lindstrøm, Brandwashed

10. 7-9 year
The concept of numbers. We introduce chores
and allowance. They are old enough to start
earning own money within the family.
ALLOWANCE
7 year old children’s
brand preferences will
last a lifetime
Nickelodeon study
+ + + =+ GOAL
CHORES
TIME

11. 10-12 year
We introduce a consumer card.
It’s a more direct link to the bank.
“Happy children create
retention in a bank.”
Professor Lars Krull, Aalborg University
CHOICES+
ALLOWANCE
CHORES
TIME
= GOAL+

12. 13-15 year
We introduce a debit card.
They can take more control of how
they spend money on a daily basis.
“53% of all grown ups use
brands from their childhood”
SIS International Research
OVERVIEW
BUDGET
JOB

13. i
LIFETIME VALUE
Piggy Bank
Savings Account
4-6 year
ERNIT app
7-9 year 10-12 year 13-15 year
ERNIT app
i
Piggy Bank
Savings Account Savings Account
ERNIT app
Savings Account
ERNIT app
Consumer Card Debit Card

14. AS TECHNOLOGY PARTNER YOU WILL GET
ERNIT Piggy Bank
ERNIT App
Bank Integration
Exclusivity
IoT Sensor Specific Data
ERNIT
Partner

16. IT IS SIMPLE
16

17. COMMUNITY NEEDS
Tactile Retention
Online-acquiring
e-Wallets
P2P-lending
Online-lending
Online-remittances
Accounting
Charity Donations
KYC Compliance
AML Compliance

18. Server API
account creation
parent/patron invitations
invitation accept
adding/removing/editing a child
adding/removing/editing goals
assigning money to specific goals
cashing out goals
status inquiry for all data objects
linking/unlinking piggy banks to children
status/activity inquiry for the piggy banks
Sandbox available at https://developers.ernit.com

19. PIG API
Get paired bank card balance
Check & Get firmware updates
Behavioral Insights
Notifications from other Channels
Goals & Gaming Notifications

20. System Communication

21. System Architecture

22. ERNIT Technology Vision 2017
1. Containerized
2. Secure
3. APIfied
4. Learnable
“Everyday Use, Family’s Financial Tactile Gadget”
Read More: https://www.linkedin.com/pulse/ernit-technology-vision-2017-amandeep-midha

23. Call for Action - Challenge Areas
1. Messaging Oriented Middleware Development : MQTT / STOMP /AMQP / New
Protocol ?
2. Battery Efficient Data Transfer between MoM and IoT
3. Security in Hardware: A TLS enabled Chip ?
4. New Connectivity Slot: A Pig with SIM slot ? ( 802.11a,b,g,n)
5. Child Data Protection ( GDPR in EU & COPPA in US ) - IoT dedicated Data
Center

24. Current Team
YouYouYou
(ERNIT Fintech IoT R&D)

25. THANK YOU
amandeep@ERNIT.com
CTO, ERNIT ApS