Financial Assistant
Integrated and hyper-personalized financial ecosystem.
Banking
Jun 2024
About Project
This project was developed during a Hackathon, a semi-annual event for company employees. The most recent edition had the theme “Bank of the Future,” challenging teams to create innovative solutions that transform the banking experience and meet emerging market needs. The proposed solution stood out and ranked among the top three ideas of the Hackathon, developed in just 28 hours.
Identifying Key Challenges
During the immersion and research phase, it was identified that a significant portion of PJ (Legal Entity) clients quickly transfer their funds to other banks shortly after they are credited. Upon analyzing internal data, we identified that:
6 million
"dormant" clients, without active accounts, hypothesized to not see value in the service.
77%
of these clients did not have any financial services contracted
01
Quick Hypotheses
We formulate the central hypothesis that the lack of knowledge about our financial services and clear insights is the main reason for balance migration to other banks.
02
Low-Fidelity Prototyping
We created simple and functional prototypes of the financial assistant, focusing on one core features: personalized recommendations.
03
Stakeholder Testing
We conducted quick tests with internal stakeholders during the Hackathon
04
Feedback-Based Iterations
We quickly refine the design, adjusting the interface and proposed services based on feedbacks.
Persona
We built this persona from a database analysis that revealed 37% of our audience shares common traits. They are mostly microentrepreneurs with strong growth potential but limited knowledge of banking and financial services. This group seeks simple, clear, and accessible solutions, while needing guidance to manage their business finances. The persona represents entrepreneurs with practical experience who still struggle with traditional banking systems.
User Flow
Our initial hypothesis was that many of our clients lacked knowledge about investments and had an increasing need for credit. With this in mind, we designed a feature that, in an educational and omnipresent manner, could guide them throughout their financial journey. The idea was for this feature to appear from the very first interaction, with the acceptance step, and to integrate seamlessly into both investment and credit products, always providing clear and accessible guidance so that the client would feel confident and empowered to make more informed decisions.
The Solution ”Financial Assistant”
The proposed solution was to create an integrated and hyper-personalized financial ecosystem that not only facilitates the client's financial management but also offers competitive advantages to keep the balance within PagBank. The proposal involves creating a financial assistant with predictive analysis based on Open Finance and AI, allowing clients to clearly receive personalized investment suggestions and credit offers, as well as manage their accounts from other banks within PagBank. By fully addressing the client’s “job,” the ultimate goal was to retain these balances and achieve banking primacy with these clients.
Conclusion
The bank of the future must prioritize simplicity, employing accessible and transparent language that eliminates hidden fees and overly complex visuals. It should provide clear and accurate financial information, delivering a genuine and trustworthy experience that aligns with customers' financial realities.
Using our solution we have
estimated revenue of BRL 60,000 can be achieved if 1% of the customer base adopts credit products with an average value of BRL 1,000, at a monthly interest rate of 4%.
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