Case StudyCaso de EstudioCas d'Estudi

Addressing Digital Banking Needs for the Young Generation

Spain's largest banking institution sought to cater to the specific digital banking needs of the young demographic in the country. In response, a neobank was conceptualized and developed, named to resonate with the tech-savvy young audience. SEIDOR Opentrends played a crucial role in transforming this vision into a leading mobile-only banking solution' tailored for young users.

Digital Transformation in Banking for the Next Gen

The primary challenge was to create a fully integrated digital platform that seamlessly accommodated the dynamic lifestyles, financial education requirements, and evolving banking expectations of young users, predominantly Millennials and Gen Zers. 

Young users expect their banking experience to be seamless and digital-first. They want to be able to open an account, transfer money, pay bills, and trade assets through mobile devices. They also want their banks to offer innovative products and services like retail and insurance partnerships, peer-to-peer payments and cryptocurrency trading.

Customer payment smart wallet via smart watch terminal

Fintech and User-centric Approach to Neobank's Development

SEIDOR Opentrends’ digital agency Fail Fast approached this challenge by designing a new portal and native applications with responsive design, animations, and intuitive micro-interactions to elevate the overall user experience.

Employing a blend of Design Thinking, User Research, and Lean UX proprietary methodologies, the solution was crafted to align with user preferences. 

This strategic approach led to the platform being honored with prestigious awards for its innovation and exceptional UX, surpassing well-known competitors in the neobanking space.

Reshaping Finance: Neobank's Impact and Tech Efficiency

The vision to create a digitally native bank for the younger generation came to fruition, positioning the institution as Europe's pioneer in fully digital banking. Millennials and Gen Zs value understanding their finances and making informed decisions. A digital platform can incorporate educational features and tools to enhance financial literacy and empower the younger generations to manage their money effectively.

By operating exclusively in the digital realm and without overhead costs associated with brick-and-mortar branches, the neobank achieved notable cost efficiency and focused on digital services and customer engagement strategies. The neobank benefits from a flexible digital infrastructure, fostering agility in development, deployment, and adaptation of services as trends, user needs and tech requirements come along. 

person holding phone reading ''Hey Dave''

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