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28th June 2024 - Wavvy Wallet Brainstorm Meeting Minutes

Interesting Insights on Design Thinking:

  • Human Short Term Memory and our denial about it
  • Instant Gratification and why we’re so hooked on it
  • Delusional beings because we’re irrational: Why we hate reality
  • Illusion of choice: Creating competition for yourself (Simbisa Brands & Odibets)
  • Thoughts on sustainable business models: Avoiding Customer Facing Products (building infrastructure you can sell).
  • The Future is A.I. Finally an app that can take feelings as input. Building an app that sympathizes as good as A.I

Wavvy Wallet

The Key Personas

Category User Description
👤 Personal - I'm trying to figure themselves out to make it financially
- I'm using a tool like excel to manage expenses
- I don’t know where my money is going
- I know I have money but I need to know what is where
- I'm Trying to build an investment portfolio/track investment vehicles
- I want to manage debt
💼 Business - Separate business from personal
- Help people start a side hustle. Start and walk the journey with them

Arising Tickets

Future Features

🎟: Expense Planning

  • Plan expenses at the start of the day
  • Eventually get more control e.g. location to confirm purchase decisions
  • Recommend cheaper options

🎟: Recommending Alternatives

  • 💡 Business Opportunity !!!
  • Avoid Marketplace design, instead, show personalized discounts based on user expenses
  • Can be an opt-in feature for privacy issues
  • Task would be finding categories/expenses that would be easy to work with businesses to get discounts or bulk purchases for.

🎟: Healing The Nation ... financially 🙂

  • Mostly through prompting
  • Healing instant gratification through nudges.
  • Addressing short term memory/delusion from denying reality through reminders.
  • Providing prompts that encourage good financial habits
  • Example: "In the next one year, you’ll spend this much on ISP One … switching to ISP Two today could help you save x% by next year."
  • Controlling gratification form the app. Provide rewards on good behavior.

🎟: Wavvy Assistant (Personal A.I Finance Coach)

  • Talks you down the ledge before a bad financial decision
  • Shows notification prompt when it predicts a bad financial decision is coming
  • Autogenerate budgets for recurrent time periods (budget calculator)
  • Starts recommending less expenditure for certain categories. Example: "Rent should be less than 30% of your income." or notifies you when missing a category e.g. "You haven’t included communication."
  • Get income details from user after building trust in product. Would help inform prompts on whether the user is living above or below means?

🎟: Creating a Wavvy Mascot

  • Uses a sheng translator (or communicates in language set by user).
  • Useful feature when discussing expense issues with user (creates personal touch when).
  • Inspired by Duolingo's Duo. Also inspired by brands like dbrand.
  1. 💰 Adding Your Own Tag
  2. 💰 Wavvy Assistant (chatbot)
  3. 💰 Auto Tagging (can only tag up to a certain limit)
  4. 💰 Tag Similar (only enabled if auto tag is on)
  5. 💰 Dated Reports past 6 months: Initially only shown reports to Last 3 months. The more you tag the more you unlock dated reports (up to 6 months). Beyond 6 months is a paid feature

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