ERNIT is empowering children with essential lifelong skills by making digital money tangible. The company does this by connecting an IoT piggy bank with an app with a real time bank account. The system let’s children set wishes, earn money by doing chores and follow their longterm savings. ERNIT is a retention and customer acquisition tool for the banks towards families with children age 4-12. This is the most sought after target group for retail banks. Latest studies furthermore show that 25% of all children opening a bank account become lifetime customers at that particular bank. ERNIT is a totally new way for banks to engage with customers.