/

Monety

/

Monety

Monety

Empowering Financial Access with Personalized Micro-Loans

Designed for those who struggle to access traditional loans, Monety delivers a seamless, data-driven experience to help users achieve their goals.

Monety - Fintech App
Monety - Fintech App

Project overview

Monety is a fintech product designed to offer low-amount loans based on user financial behavior and scores. By analyzing users’ financial activities and providing personalized loan offers, Monety aims to make borrowing more accessible and manageable. The platform also includes features to manage spending and build a financial score based on behavior, with a seamless integration for KYC and bank account connectivity through Plaid.

The problem

Many individuals in the US struggle to access small loans due to various reasons, such as inadequate credit history, low credit scores, or non-traditional income sources. Traditional lending institutions often overlook these borrowers, leaving a significant gap in the market for accessible, small-scale loans. Additionally, there is a need for better financial management tools that can help users improve their financial behaviors and scores.

Key features

Monety addreses these challenges by:

1.

1.

Loan Offers Based on Financial Behavior

Monety uses advanced algorithms to analyze users’ financial history, including spending habits, income patterns, and existing obligations. This personalized analysis helps generate loan offers that are better suited to the user’s specific financial behavior, ensuring they receive loan terms that match their financial capacity. By moving beyond traditional credit scores, Monety opens up borrowing opportunities for users who may not qualify for loans from conventional lenders due to limited or non-traditional credit history.

2.

2.

Custom Loan Requests

Monety uses advanced algorithms to analyze users’ financial history, including spending habits, income patterns, and existing obligations. This personalized analysis helps generate loan offers that are better suited to the user’s specific financial behavior, ensuring they receive loan terms that match their financial capacity. By moving beyond traditional credit scores, Monety opens up borrowing opportunities for users who may not qualify for loans from conventional lenders due to limited or non-traditional credit history.

3.

3.

Spend Management

Monety offers an integrated spend management tool that helps users track their income and expenses in real time. By providing visual insights, such as spending categories and monthly trends, users can better understand their financial habits and make informed decisions. The tool also helps users plan their budgets, set savings goals, and ensure they have enough cash flow to meet upcoming obligations, which ultimately contributes to better overall financial health.

4.

4.

Financial Behavior Score

Monety’s Financial Behavior Score is a dynamic, behavior-driven score created by analyzing a user’s everyday financial activities. Unlike traditional credit scores, which rely heavily on past borrowing, this score reflects ongoing financial responsibility. It looks at factors like regular bill payments, savings, debt-to-income ratio, and overall spending habits. This score allows users to build or improve their creditworthiness in a more accessible way, even if they don’t have a long credit history.

5.

5.

Proactive Loan Offer Analysis

Monety doesn’t just react to users’ loan requests—it proactively analyzes user financial data to predict if they might need assistance in the near future. By examining trends such as declining balances, increased expenses, or potential shortfalls in upcoming bills, the system predicts whether a user might struggle to make it through the month. If a potential need is detected, Monety sends timely loan offers to help users bridge the gap, ensuring they maintain financial stability without the stress of running out of funds.

To use Monety, users must complete a KYC process to validate and connect their bank account through Plaid, ensuring a secure and streamlined experience.

To use Monety, users must complete a KYC process to validate and connect their bank account through Plaid, ensuring a secure and streamlined experience.

Design process

1.

User research and analysis

Target Audience: US residents who are unable to access loans due to various reasons, such as limited credit history, low credit scores, or unconventional income sources. These users often need small financial assistance to achieve their personal or professional goals.

User Interviews: Conducted to understand the pain points in accessing small loans and managing finances.

Competitor Analysis: Studied existing financial management and lending platforms to identify gaps and opportunities.

1.

User research and analysis

Target Audience: US residents who are unable to access loans due to various reasons, such as limited credit history, low credit scores, or unconventional income sources. These users often need small financial assistance to achieve their personal or professional goals.

User Interviews: Conducted to understand the pain points in accessing small loans and managing finances.

Competitor Analysis: Studied existing financial management and lending platforms to identify gaps and opportunities.

2.

Ideation and conceptualization

Feature Brainstorming: Focused on features that would provide the most value to users: personalized loan offers, custom loan requests, spend management, a financial behavior score, and proactive loan offer analysis.

User Flow Mapping: Created detailed user flows to ensure a seamless user experience from sign-up to loan disbursement.

2.

Ideation and conceptualization

Feature Brainstorming: Focused on features that would provide the most value to users: personalized loan offers, custom loan requests, spend management, a financial behavior score, and proactive loan offer analysis.

User Flow Mapping: Created detailed user flows to ensure a seamless user experience from sign-up to loan disbursement.

3.

Wireframing and prototyping

Wireframes: Designed low-fidelity wireframes to outline the structure and layout of key screens.

Prototypes: Developed high-fidelity prototypes using tools like Figma to visualize the final product and conduct usability testing.

3.

Wireframing and prototyping

Wireframes: Designed low-fidelity wireframes to outline the structure and layout of key screens.

Prototypes: Developed high-fidelity prototypes using tools like Figma to visualize the final product and conduct usability testing.

4.

UX/UI Design and collaboration with developers

UI/UX Design: Crafted a clean, intuitive interface that prioritized ease of use, clarity, and accessibility. The design focused on delivering a seamless experience across all touchpoints, from onboarding to loan management.

Collaboration with Developers: Worked closely with the development team to ensure the design vision was executed effectively, balancing functionality and aesthetics. Regular communication and iterations helped secure the best possible user experience, with attention to performance, security, and smooth integration of features like bank account connectivity and loan analysis.

4.

UX/UI Design and collaboration with developers

UI/UX Design: Crafted a clean, intuitive interface that prioritized ease of use, clarity, and accessibility. The design focused on delivering a seamless experience across all touchpoints, from onboarding to loan management.

Collaboration with Developers: Worked closely with the development team to ensure the design vision was executed effectively, balancing functionality and aesthetics. Regular communication and iterations helped secure the best possible user experience, with attention to performance, security, and smooth integration of features like bank account connectivity and loan analysis.

The results

Monety successfully launched with the following outcomes:

Increased Loan Accessibility

Users with limited credit history or unconventional income sources were able to access loans tailored to their financial behavior.

Improved Financial Management

Users reported better control over their spending and a clearer understanding of their financial health.

Positive User Feedback

Received high ratings for usability and customer satisfaction.

Behavioral Score Adoption

The unique financial behavior score was widely accepted and appreciated by users for its accuracy and relevance.

Proactive Loan Assistance

Users appreciated the proactive loan offers, which provided timely financial assistance based on their spending behavior.

Conclusion

Monety has made significant strides in democratizing access to small loans and empowering users to take control of their finances. By leveraging user financial data and behavior, Monety provides a more inclusive and effective lending solution. The ongoing improvements and user feedback will continue to shape Monety into a vital tool for financial management and loan accessibility.

Share on

Share on

Let's talk

Got a project in mind? Or maybe you just want to talk design? Either way, I’d love to hear from you. Let’s see how we can bring your vision to life.

All trademarks, logos, and brand names are the property of their respective owners. All company, product, and service names used on this website are for identification purposes only. Use of these names, trademarks, and brands does not imply endorsement.

© 2024, Felipe Linares - flinbu. All rights reserved. | Terms and Conditions | Privacy Policy | Cookies Policy

Let's talk

Got a project in mind? Or maybe you just want to talk design? Either way, I’d love to hear from you. Let’s see how we can bring your vision to life.

All trademarks, logos, and brand names are the property of their respective owners. All company, product, and service names used on this website are for identification purposes only. Use of these names, trademarks, and brands does not imply endorsement.

© 2024, Felipe Linares - flinbu. All rights reserved. | Terms and Conditions | Privacy Policy | Cookies Policy