Saving Lottery

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  the main saving interfacce

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  with increasing level, the user unlocks more options

Inspiration

Nordea asked us to come up with "an interactive and inspiring solution for how to create engagement, increase knowledge, interest and willingness to save and at the same time entertain" using their new open banking API. People's unwilligness to save usually has two main causes, only offering long-term benefits as well as presenting itself as an overwhelmingly complex task. We decided to create an app that offers an easy entrance to saving combined with short-term and medium-term benefits.

What it does

Our application is built around two main pillars, first we have a normal banking application to make people use it on a reglar basis, it offers to make transfers and check all account information. The second pillar is more important, the saving environment. It is based on a level system, the user's level determining the options the user has. Starting with low-risk investment, the user has to earn points through saving and learning about other methods to invest money. Such knowledge sections are followed by quizzes to test the user's understanding and with some accumulated knowledge and experience, the user can create his own risk-portfolio

How we built it

With loads of motivation and fun, we designed the level system and GUI. We trust on Nordea to supply an API for investments soon to implement out main functionality.

Challenges we ran into

Obviously, the API for investment is not published yet, but we were assured that it is on the roadmap. Further challenges we had concerned the teambuilding, as another planned team member who focusses on front end was not able to join the team - we weren't sexy enough... We spent too much time in the beginning develoing a common vision. The main aim was clear, but we noticed early on in the detail discussions on Friday, that we had very different ideas how to achieve that and what methods to use. In the end we decided on a combined behavioural economics + gamification approach.

Accomplishments that we're proud of

The design looks fantastic and the combination of saving, financial knowledge and gamification has so far not been realized. The idea is great!

What we learned

More focus on technical team next time. Also we need to do more detailed discussed before the start of the hackathon next time. A common vision is not enough!

What's next for Saving Lottery

We need to refine the level and reward system. At the moment this kind of app is not possible due to missing API functionality. We will focus on the basic steps which do not require an investment portfolio integration and can work with the current API. We need to develop the front end and refine the backend.

Built With

• nordea-open-banking-api