Sep 2024 to Dec 2024 | @Backbase
Enhancing financial wellness by empowering users to create and manage personalized “Pockets” within their accounts, driving engagement and supporting personal growth goals.
Empowering users to save and grow financially by introducing Pockets as a sub-section of their accounts, enabling better money management and financial discipline.
Backbase collaborated with six global banking institutions to design Pockets, a feature that allows users to allocate funds within their primary accounts for specific goals, such as travel, emergencies, or personal milestones. This initiative aimed to foster financial discipline and help users save purposefully while enhancing app engagement and retention.
“Our product should look better with a Wow factor”
This was their ManCom’s first feedback. But, we knew that a simple facelift was not the solution. The current app clearly failed to fulfil user goals with ease, as was evident from a 12% fall in ratings (4.4 to 3.9 stars) and 200+ negative reviews. Thus, we decided to delve deeper to identify and resolve core problems.
Through user research, we identified a gap in how customers interact with their savings. Existing tools were either too rigid or lacked personalization, resulting in users relying on external methods for goal-based savings. With Pockets, the aim was to create an intuitive and integrated solution that addressed these challenges.
| Project type | Product Redesign |
|---|---|
| User Demographic | Retail banking app users |
| Team | Backbase- 1 UX designer |
| Bank- CPO, CTO, 1 PO, 1 marketing professional | |
| Status | Phase 1 shipped, Phase 2 ongoing |
Individual contributor | UX and UI Design