Nubank

Money Boxes

About Nubank

The Business Area

Caixinhas was born in the company's Investments area, the one that tackles clients' necessities for saving and investing their money.

Nubank is a well-known Brazilian digital bank that aims to eliminate traditional banking bureaucracy by offering a digital-only platform for managing finances.

Empowering users to organize money while seeing it yield, blurring the line between saving and investing

Collaborate on early product concepts with a diverse team to release the first version to users.

My role

Clarifying scenarios through craft, aiding decisions in meetings with diverse stakeholders across hierarchies.

Build, along with my peers, short, medium, and long-term visions so the product can be iterated and reach its full potential

Iterate the project according to what we build, measure, and learn release after release

Ensure stakeholders can contribute and approve the product’s releases at a reasonable pace.

Product Panorama

Opportunity Understanding

As an out-of-the-box company, Nubank understood these needs as an opportunity to reinvent how users save money in LATAM. The goal is to build a product different than all the savings accounts traditional banks already offer.

The Piggy

Where it all started

Since 2018, the "Piggy" feature (savings account) has been available for users to save money like a traditional bank. Shortly after its release, users requested improvements to segregate savings by goals.

Hypothesis

We believe in the strategy of empowering our users to save money and make it yield, all without the burden of thinking about investment variables. The money users save will be allocated to low-risk investment assets, uniting the concepts of saving and investing.

This concept fuels other deliverables, such as allowing users to save money according to their goals, as they ask for it, thereby creating an emotional connection between users and the act of saving money.

We also understand that seeing their money organized and yielding makes them eager to save more consistently, which is a win-win for both sides: users and the company, addressing both their needs.

Primordial insights

Testing first concepts

Working with the Research Team, we downloaded the findings to define product and design premises that would guide the project. We learned that:

  • Creating Money Boxes feels like second nature, helping users to reason about their financial lives.

  • It also makes tangible the importance of saving and having money yield, even if just a little.

  • Customers highlighted the importance of expanding the moments and spheres of celebration.

  • Personalized images and naming of caixinhas are highly relevant for that and for engagement, too.

Project premises

In close collaboration with our UX Researcher peers, we defined the premises that guide the project.

01

Drive emotional connection

02

Be immersive

03

Abstract the investment language

The first release

Challenges

Embrace the app narrative

MoneyBoxes doesn't exist in a limbo. The experience must integrate with other products and services within the app, making it a cross-company project.

That requires several rounds of alignment and productive collaboration with peers across Nubank to design a consistent, cohesive product that tells a story and fits seamlessly into the app ecosystem as a whole.

Aim for quality

  • Being close to the financial assets team to define the best financial products to fuel money boxes, yielding safety;

  • Working closely with Nubank's Design System team to guarantee consistency;

  • Mapping opportunities to offer Money Boxes in the app structure.

Results

After 1 month with MoneyBox gone live

+ 166M

created Money Boxes where being actively used

+ R$ 139M

in income, which means
~R$ 848 per Money Box

+ 128M

active clients ~weekly using the new feature

+ 2,4%

of conversion in 4 weeks*

* The expected 2,0% in a month

It’s still day 1

Iterate to reach Money Boxes’ full potential

Increase emotional conection and fuel money saving drive

Using our users’ profile pictures, mentioning by their names, keeping things simple and their dreams in focus to increase emotional connection over and over.

These studies were crafted and tested for months and can be in production differently than what was being studied by then.

Let users reach the next level

As we guide users through their journey of saving money, we will also guide them to save their money in different types of investment products inside their Money Boxes, always making it simple, intuitive and abstracting the investment language and complexities.

Recognition for quality and
disruptiveness that keeps growing

from

2,1Mi Boxes

in 2022

to

16,6Mi Boxes

in 2024

Thank you

Feel free to reach me at LinkedIn or
e-mail me at annawaack@gmail.com

Special thanks

Great projects are not made alone. Thanks to the project product, engineering, and design leadership.

Also, all the development peers and PMs involved in this giant project, as well as my close and dear peers Rosa Panerari and Cris Leão (content writers), Monique, Nayra, and Elizete (Researchers) and every area that participated in critiques and tested the product over and over again so it could come out perfectly.

Our collaboration is forever eternalized in this product.