A UAE-based app is helping parents teach their children smart money habits and build a credit score for them from an early age. Botim Money, which allows UAE residents to send, manage and receive money, will introduce customisable controls that allow parents to set spending limits, restrict purchase categories, and give their kids access to prepaid, multi-currency wallets, turning everyday purchases into teachable moments.

“If your child wants to buy something, you can toggle on and off the things that they can and cannot spend on," Dr Tariq Bin Hendi, CEO of Botim's parent company Astra Tech, told Khaleej Times. "It gives parents a lot more control over how they fund their children's cards and they can see how much money they are spending on what. This is going to start becoming a way for us to educate a lot of kids on how they can be more financially responsible," he added.

Dr Tariq said one of the best features was how parents could build a credit score for their kids. This parent-child financial link, a first for the app, is expected to roll out in upcoming updates.“If you look at the banking sector, we have had individuals who are in their mid-20s who we cannot onboard onto the bank because there's no credit history,” he said.

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“Those individuals cannot prove that they have any experience in the financial sector. We have to onboard their parents instead and the parents are still custodians and guardians.” He said that the app would also help parents to educate children on the way forward for their financial literacy and help children build savings.“Ultimately, all the family goes into the financial ecosystem in a way that they haven't in the past. That for us is a big stepping stone for the community here,” he said.

For the unbanked

Beyond families, Botim is also solving a major problem for the UAE's blue-collar workforce: financial exclusion. By offering virtual IBANs, remittance services, and borrowing options, the platform provides a gateway to banking for millions who have traditionally been locked out.“More than 4 million people in the UAE are unbanked or underbanked,” said Dr Tariq.“We help them enter the financial ecosystem, giving them access to credit, savings, and digital payments-thus helping them build a credit history from scratch.”

This ecosystem is designed not only for immediate utility but also long-term financial empowerment. Users who start with a simple remittance transaction may later become eligible for micro-loans, savings plans, and other advanced financial products as their profile grows. The company plans to embed AI-powered financial education directly into the app, helping users- especially first-time borrowers- understand concepts like repayment terms, budgeting, and savings, in multiple languages.“It's not enough to give someone access to money.

You have to make sure they understand how to use it responsibly,” he said.“Financial literacy is at the heart of inclusion.” Previously, the app offered external links to financial education resources, but the new approach integrates interactive lessons into the app itself. This, combined with real-time AI support, makes the learning process faster, personalised, and more engaging.

Pivoting to specialist platform

Although Botim had initially aimed to be a super app, the company is taking a different approach.“We're not trying to be everything to everyone anymore,” said Dr Tariq.“Our focus is clear: we want to be the best at consumer finance-not a jack-of-all-trades.”

This strategic pivot is already showing results. He said user engagement has more than tripled since the app's major infrastructure update. Users are not only spending more time on the platform but are also exploring its financial features far more actively than before. As the company eyes international expansion, it faces decisions about whether to scale organically or through strategic acquisitions.

But its mission remains consistent: making financial access and education easier, safer, and smarter for“unbanked and under banked” populations.“Our biggest success will be when a child who started using our app with a controlled allowance grows up with a strong credit profile, financial discipline, and full access to the global economy,” said Dr Tariq.

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