A Family Banking App for Simplified Financial Management
An insightful platform with improved UX
2 minute read
The Challenge
Parents struggle with giving their children cash allowances, tracking their spending, and ensuring they develop good financial habits. At the same time, kids face challenges in managing their money, tracking savings, and frequently borrowing or lending money. Currently, the lack of a seamless system makes financial management difficult for both.
What’s needed is a straightforward solution to simplify allowance distribution, improve spending visibility, and encourage financial literacy.
The Solution
A family banking app was developed to simplify financial management.
Parents can automate allowance transfers, eliminating cash handling. Real-time dashboards offer visibility into spending and savings for both parents and children. Gamified financial education and spending insights promote responsible money habits. Meanwhile, peer-to-peer transfers within the family reduce borrowing friction, making financial management seamless and efficient.
The Challenge
Parents struggle with giving their children cash allowances, tracking their spending, and ensuring they develop good financial habits. At the same time, kids face challenges in managing their money, tracking savings, and frequently borrowing or lending money. Currently, the lack of a seamless system makes financial management difficult for both.
What’s needed is a straightforward solution to simplify allowance distribution, improve spending visibility, and encourage financial literacy.
The Solution
A family banking app was developed to simplify financial management.
Parents can automate allowance transfers, eliminating cash handling. Real-time dashboards offer visibility into spending and savings for both parents and children. Gamified financial education and spending insights promote responsible money habits. Meanwhile, peer-to-peer transfers within the family reduce borrowing friction, making financial management seamless and efficient.
The Results
The first family banking proposition in the UAE
A new customer base has boosted upsell rates by 30% across products
New revenue streams increase retention, driving 3x lifetime value
Our Process
We identified gaps and developed a user-friendly app for kids and parents to track and manage their shared financial relationships.
Workshops: We conducted market research to analyse strengths, weaknesses, and opportunities in children's banking. User interviews with parents and kids helped us understand their needs and expectations.
Research synthesis: Insights from our research shaped a product strategy, which was reviewed and approved by senior management to ensure alignment with business goals.
Product development: We prioritized MVP features for a quick launch, mapped key user journeys, and built service blueprints for complex processes like onboarding.
About Digital
3
Core Capabilities
550+
Digital Transformations
1,000+
Experience Crafters
Our Service Offering
We design intuitive, accessible, and visually engaging interfaces that enhance user satisfaction and drive adoption.
We leverage AI, blockchain, and other emerging technologies to drive new product opportunities and competitive differentiation.
We manage digital product lifecycles, using Agile methodologies, ensuring continuous iteration, value delivery, and market suitability.
We design and build responsive, high-performance apps optimized for various devices and platforms.
We implement robust security measures, data protection protocols, and industry compliance standards to safeguard digital assets.
Our Service Offering
UX/UI design
We design intuitive, accessible, and visually engaging interfaces that enhance user satisfaction and drive adoption.
Innovation and emerging tech exploration
We leverage AI, blockchain, and other emerging technologies to drive new product opportunities and competitive differentiation.
Agile product management
We manage digital product lifecycles, using Agile methodologies, ensuring continuous iteration, value delivery, and market suitability.
Web and mobile app development
We design and build responsive, high-performance apps optimized for various devices and platforms.
Security and compliance
We implement robust security measures, data protection protocols, and industry compliance standards to safeguard digital assets.
Connect with us
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