Shared Accounts for the next generations of consumers
What is Varo
Varo Bank is an FDIC insured bank on a mission to bring financial inclusion and opportunity to all.
Varo has a suite of tech-forward customer-centered financial tools and accounts.
Overview
CONTEXT
In 2020, Varo chose that they want to be an ‘A Bank for All’ and there has been a lot of talk of what does that looks like. I knew the creation of joint accounts and subaccounts were on the table for the 2021 roadmap and I wanted it to align to our bigger pillars of the company as well it feels like a seamless experience.
I created a tiger team to do a design sprint.
PROBLEM
The core needs found among couples sharing finances.
Affirming the couple’s definition of partnership. For some, the marital commitment to support one another “for better or for worse” includes completely shared financial ownership and responsibility.
Paying shared bills. This includes remembering when bills are due and pay them easily.
Making sure everything is okay. This includes checking for fraud, monitoring spending, and making sure big payments went through.
Facilitating major purchases together. Moves, cars, and houses are big decisions. How might we help couples consider their options together?
Meeting the couple where they are in terms of future plans. People who are paycheck to paycheck aren’t thinking about retirement—and they shouldn’t be! How might we tailor the Varo experience to various time horizons?
PROJECT GOAL
Show customer journey of a user using shared accounts and subaccount, ‘Buckets’.
Create a vision of how these products can live harmoniously together.
Process
PERSONA
During this design sprint, I leveraged the persona Rosie and carved out a story of her getting married.
