A personal exploration on travel journalism website

Background Context

As a continuation of the previous project (See “Financial Management & Digital Banking: A New Proposition”), I was tasked to help the team in delivering the first phase of the project, which is Senyumku’s Digital Banking prototype.

Due to budget and resource constraints at the time, we weren’t able to build the entire bundle (Financial Management and Digital Banking) in tandem. Because of this, management prioritised the development of the digital banking first to get the ATM and OJK license. …

Previous chapter: Part 3: How do we differentiate ourselves from other competitors?

How to create a banking product that is highly engaging and induce customer retention?

To achieve market-fit, we have to ensure we can retain our users by making them actively engage and interact with our product. This means offering basic functional features are no longer enough, we can not just solve user’s problem in infrequent manner. Because that means, they only use our product in random and as barely needed as possible, thus making our product disposable and replaceable.

What we need to do is to build an engagement mechanism that can generate a signal/stimulus (external trigger) that matches with users’ internal…

Previous chapter: Part 2: Millennials’ Needs & Demand

Trend in choosing financial service provider

When asked which platforms (or types of organisations) they trust with personal information, 76% of Millennials nominated banks. This suggests the historical reputation for security and privacy — earned by the industry over generations and embodied by the traditional financial providers — has translated into the digital age. Banks are seen as a safe haven for personal information. In a world of constant threats to privacy, such a reputation is a huge asset for banks (see figure 1).

When it comes to choosing a provider for financial services, trust factors are the…

Previous chapter: Part 1: Background and Market Research

What kind of digital banking service and savings product that millennials need and desire?

A digital maelstrom: a perfect brew with millennials’ purchasing power, shift in lifestyle choices and growth in digital e-commerce

Millennials, which represent one third of the total Indonesia population and will make up approximately 44% of Indonesia’s productive age (15–64) in 2030, is one important force that may lift growth higher. They comprise as the largest workforce, command the largest portion of the income, and correspond to unique blend of higher value consumption; which more toward experiences rather than functional needs.

Being a mobile first and mobile only generation, the combination of millennials’ rising consumption pattern, increase in disposable income, and stellar rise of digitalisation can provide further opportunity to raise…

Corporate Strategy

For the last few years, Tunaiku’s lending product has reached tremendous growth. However, to balance out the ratio between lending and funding, we must boost the third-party funding as well (saving products). As these products will be the ones that generate and become the source of funding for our lending products.

Furthermore, our third-party fund still relies heavily on the corporate funding side, which has a high volatility due to the nature of its business (it is highly dependant on the clients, and while a small number clients can pour a large sum of money, when they pull out we…

Previous chapter: Part 4: Product-Market Fit Strategy

The business model will be based on freemium model. This means that we position our product as a one-stop digital banking and financial management application that users can test for free (provide them with the basic bundle). The free, basic bundle will be selling Financial Management Application which offers basic services such as:

• Spending tracking
• Basic financial wellness report (based on weekly, monthly spending tracking performance)
• Relevant banking product/service offers based on user needs and goals
• Engagement through media and entertainment platform (in house content that serves as company branding and customer engagement…