Context
Problem
The ongoing management of finances can be challenging, especially when it comes to shared finances. Our research has shown that our users often lack the necessary tools to effectively handle their joint financial responsibilities.
Business opportunity
This presents a business opportunity for us to enhance our premium offering and provide a seamless user experience that promotes upgrades and adds value to our premium customers.
Who are we designing for?
To achieve this, we have developed N26 Insights with users like Kiera and Pete in mind. Based on our research and understanding of their challenges, goals. We have designed a solution that help our customers like Kiera and Pete to overcome their difficulty and manage their money efficiently.
Opportunity
To assist our customers on their financial journey and provide them with tools to take away the stress of using money together. Whether spending or saving. We started talking to customers who use our joint account, gaining insight into their struggles. Here are the key areas that a helpful tool for shared finances should address, based on our findings.
Accountability
Ensuring there is an equal or agreed-upon contribution to expenses, with both parties responsible for the shared finances.
Sense of control
Having tools that help them reach their goals with less work. This helps them build good habits and track their progress.
Transparency
Being open about shared money helps build trust and strengthens both financial and emotional connections over time.
Ideate and iterate
One of the key things our customers have shared with us is the importance of visibility in making informed financial decisions. To address this, we have explored various concepts such as
Tracking with filter - Keep track of shared payments and e able to filter by each person
Personalised financial goals, whether to reduce debt or save for their upcoming trip.
Joint budget with both parties sharing responsibility for managing their spendings.
Spending highlights to keep track and identify areas that require the most attention.
Solution
N26 Insights for Joint account and personal account
The components of Inisghts
N26 Insights comprises several key components, including data collection, self-awareness and goal setting. These elements collaborate to provide a comprehensive financial overview.
Balance shows a breakdown of the money coming in and out of the account
Shared budget and tracking enables users to view payments by category or account holder
Spending highlights
helps users in identifying areas that require the most attention.
Impact
🆙 Increase premium value and retention
4%
decrease in premium downgrades per month since the launch of insights feature
> 30%
of all joint account holders are actively using the Insights feature.
🔼 Higher engagement and positive reception
> 50%
of all joint accounts now have a monthly budget set since launch
What Insights’ customers have said
Love the New Insights
…impressively useful, like spending statistics or the monthly budget. I like how they also listen to their community and keep the app up-to-date
App Store review
Exceptional spend insights
…where it really shines is in helping me understand personal cash-flows. The new chart is an excellent way to see my spending by category and the month over month comparisons are really impressive. N26 nailed the sweet spot between simple and powerful with this feature.
App Store review
really like the insights feature
Spaces and insights are a great way to track our spending and grow our savings too.
App Store review
Love it
The fact that Insights shows upcoming payments and monthly highlights based on my habits is amazing. Love it!
App Store review