Mauricio Villamayor

Pix, financial decisions and low-interest loans

Pix is a solution for young adults to understand how their financial decisions today can affect their wealth later in life. We will offer them an avatar of them in 20 years, with an estimated networth and possessions that we predict they’ll have. Within this framework, every time they make a financial decision, it will also affect the net worth of their avatar.

On top of this, we also give tools to users to understand what they’re really paying for when they sign for instalment payments and what other people are paying for similar products. Based on the offers they encounter, we also match similar offers from other lenders, so our users can access the cheapest instalment plans.

Addressing two parts of their journey

To understand the potential issues around loans for young adults in Paraguay, I created a customer journey (simplified version on the left) where I identify their main activities. From the interviews, it transpired that the main opportunities were around dissuading users from purchasing, but also giving better options in case they decide to go ahead with the purchase.

Because of this understanding of the problem, our solution addresses both areas through its main features.

Iterative, remote approach

To solve the pain points that transpired in our research, I worked iteratively using different methods of ideation and validation. Initially, I worked solo using Crazy 8s, both considering digital-only and analogue-only solutions, as well as creating analogies of existing solutions.

With some ideas developed on my own, I set out to work remotely with others, having individual sessions of mind maps to explore new ideas. Then I selected and develop ideas using a standard industry approach (Now, How, Wow and 4 Categories), so I could have other remote sessions to evaluate these ideas using SCAMPER.

Lastly, I validate the outcome using low-fidelity wireframes in a remote environment with users, which leads to the outcome.

See yourself in 20 years

One of Pix’s core features is that it allows users to see themselves in 20 years, with an estimated net worth and different possessions based on a form they do in onboarding. Every time a user makes a financial decision, they’ll see it reflected in their net worth in 20 years, which will encourage them to have positive financial behaviour.

Understand your offer and other lenders

By giving the information of an installment plan offer that the user has, Pix can help the user understand how much interests are they paying, as well as knowing how much people are paying for similar products. We also help users compare their offer against other lenders and access the cheapest directly from Pix.