Alexey Krasnoriadtsev jokes that even the teachers in his school couldn’t remember all the letters of his family name. The Co-Founder and Chief Executive Officer of BankingOn, Krasnoriadtsev clearly recalls what he did and didn’t learn at school. Now, with Boucoup, he’s paying it forward.
Boucoup is BankingON’s platform to help parents teach Gen Z children how to earn, spend, and save. “Our goal is to supercharge user accounts for credit unions,” Krasnoriadtsev says, and the target audience is the proof. He’s looking local: families, children, growth. As he adds, “it is a family banking, youth banking solution.”
Krasnoriadtsev is trying to cut through the clutter to make Boucoup’s product work by focusing on actions and not just words. He knows that Gen Z is fluent in video learning. He wants them to have actual, boots-on-the-ground experience with managing a checking account. Could they just look up a video about how to do it? Sure. But that’s not how they learn. “It’s not a lack of content,” he said. “There’s tons of content. Kids nowadays are overwhelmed and overloaded by content. It’s actually practicing the money habits, actual management.”
Krasnoriadtsev has been at the head of BankingON since 2017, and he’s seen his company grow in tangible ways through nearly a decade in business. He’s also seen his family grow, and noted how the company and his children grew side-by-side. “My daughter is using our own product, and before that, she didn’t understand about savings. Before that, she’d say, ‘Dad, here’s this Lululemon, it’s only $75!’ and I’d say, ‘What do you mean, only $75?’ So once she started managing her own accounts, suddenly those ignorant kind of things just disappeared.”
The proof, he concludes, is in the pudding. “The most important thing,” he said, “is that she actually knows now what it feels like to have a monthly payment, to have that weight of that. Now she actually wants to know what interest is. She’s like ‘Why is there a late fee? This isn’t fair.’ And I’m like: Let’s talk about it. Well, guess what: You gotta be prepared.”
