Four tech-savvy students are today set to launch their award-winning app.

Pupils from Mount Grace School, in Potters Bar, Jack, Arlo, Andrew and Adam invented their Social Bank app to help people track their spending.

It won the People’s Choice Award at the national App for Good Awards and has now been professionally built by a development agency.

The team said: “We all talk about what we are saving for but never enjoy the task. We believe that Social Bank will make saving money more effective and fun.”

They were inspired to build the app after attending a course on software design at school.

Run by Apps for Good, it included mentoring from industry experts via Skype, and was sponsored by Thomson Reuters, BlackBerry, Barclaycard, SAP, Dell and TalkTalk.

Managing director of Barclaycard Chris Wood said: “It has been an absolute pleasure working with the Mount Grace team and we’ve been really impressed with their creativity and hard work. 

"We fully expect these young students to be the innovators of the future.”

Fathima Anwari, a teacher at Mount Grace, said: “We are incredibly proud of the Social Bank team and the app they have created.”

The app is available for download on Google Play.