No MVP.
No talking to users.
No strategy.
No surprise they failed.<p>MVP - build an app with parent login, child login and a points system for chores.<p>Talk to users (parents) by having chat in the app.<p>Find how to acquire users cheap, retain them, and make them pay. Go for a bank partnership when it is a compelling business proposition. Banks like money, not startups with no profits and no users.