Product Sense: Mobile Bank Account Experience for Children and Their Parents
Company: Stripe
Role: Product Manager
Category: Product Design & Strategy
Difficulty: medium
Interview Round: Other
Design a mobile banking app for children. Explain which age group you would build for, what the product does for the child and for the parent or guardian responsible for the account, what the first version includes, and how you would measure success.
```hint Two users share one account
The child uses the app, but an adult usually opens the account, funds it and sets the rules. Work out what each of them needs, and how that balance shifts as the child gets older, before choosing features.
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### Clarifying Questions
- What age range should I target? A 7-year-old and a 16-year-old need very different products.
- Is the main goal teaching money skills, giving children a convenient way to pay, or winning families as long-term banking customers?
- Are we a licensed bank, or a product built on partner banks and card-issuing infrastructure, and is a debit card in scope?
- Which market do we launch in, given that rules for minors' accounts and children's data differ by country?
### What a Strong Answer Covers
- A clear goal and a chosen age band, with the child and the parent treated as distinct users
- Ranked pain points for both users, and solutions that balance a child's independence with parental oversight
- A prioritized first version and a plan for how the product grows with the child
- Success metrics for financial habits and engagement, with guardrails for safety, fraud and parent trust
- Legal and safety constraints: guardian ownership and consent, children's data privacy, spending controls and fees
### Follow-up Questions
- How would the product change for a 16-year-old who wants privacy from their parents?
- How would you make money without exploiting children, for example through fees or encouraging spending?
- A child spends their whole balance on in-game purchases in one afternoon. What should the product do before and after it happens?
Overview: A product sense prompt asking you to design a mobile banking app for children. It tests how you serve two users at once, the child and the parent or guardian, choose an age range, prioritize a first version, and handle safety, children's privacy rules, fees and metrics that reward healthy money habits.