DATE

April – July 2020

Role spec

Product design lead
Component system & flows
Prototyping
Internal microsite (Design & build)

Nectar

Jigsaw were contracted by Emirates NBD to create E20., Dubai’s first digital business bank. The app is designed to help the region’s SMEs streamline every aspect of running their business – from delivering cashflow analytics to generating and sending automated invoices. Our Agile team designed, built, and user-tested the app, working closely with Emirates to bring it to life. The project was fast-paced – with a tight initial 6 month incubation window to deliver a feature-rich MVP of over 400 unique screens.

Insurance and mortgage marketplace

  • Provide access to insurance and mortgage marketplaces. These are not financial products offered by Sainsbury’s Bank, so a financial marketplace extends the Sainsbury’s offering for the Nectar customer.
  • User is nudged towards these marketplaces via smart event triggers – for example, when they pay for a flight or overseas hotel through the Nectar app.
  • Nectar can offer exclusive rates on insurance plans with partner providers, incentivising purchase through the Nectar app.

Intelligent assistance

  • When it comes to managing their money, only 8% of the UK population employ a financial adviser. Employers do little to help: in REBA’s Employee Wellbeing Research, only just over half (52%) of the companies surveyed had a financial wellness strategy in place and 7% had no plans to embrace financial wellness at all.* A substantial portion of the UK population, then, are left on their own to organise their finances, many with little to no knowledge on how to do so.
  • Smart financial support chatbot: A friendly and informative financial companion who can provide critical support at key moments in the user's life (e.g. new baby, moving house, losing their job), while doubling as a more efficient and intuitive way to onboard new users and navigate the app.

Point-of-sale finance

  • Provide the user with simple-access credit facilities when they do not have sufficient funds to make the purchases they need.
  • Creating an enriched view of the end-user via our data and integration capability, allowing Sainsbury’s Bank to manufacture and price personalised credit products around the needs of their customers – with lower risk profiles to the bank.
  • Connecting the customer with additional retail offerings (including those by Nectar partner companies), further reducing their monthly spend through offers and discounts on the items and services they need.

Insurance and mortgage marketplace

  • Provide access to insurance and mortgage marketplaces. These are not financial products offered by Sainsbury’s Bank, so a financial marketplace extends the Sainsbury’s offering for the Nectar customer.
  • User is nudged towards these marketplaces via smart event triggers – for example, when they pay for a flight or overseas hotel through the Nectar app.
  • Nectar can offer exclusive rates on insurance plans with partner providers, incentivising purchase through the Nectar app.

Point-of-sale finance

  • Provide the user with simple-access credit facilities when they do not have sufficient funds to make the purchases they need.
  • Creating an enriched view of the end-user via our data and integration capability, allowing Sainsbury’s Bank to manufacture and price personalised credit products around the needs of their customers – with lower risk profiles to the bank.
  • Connecting the customer with additional retail offerings (including those by Nectar partner companies), further reducing their monthly spend through offers and discounts on the items and services they need.

Partner store directory

Giving users the option to browse partnered point-of-sale merchants via the Nectar website itself.

How does point-of-sale financing work?

Here is one potential web route for the Nectar financing option via third party checkout, based on the existing model of UK-based finance provider, Clearpay.

  1. At any Nectar partner checkout, the user is offered the option to pay through Nectar financing.
  2. The user is prompted to enter their contact number to run a soft, real-time credit check to see if they qualify for financing.
  3. If successful, the user can then select from a tiered range of financing options – from shorter-term offerings with lower interest rates to longer schedules with higher rates.
  4. If they qualify, the user will then pay for their purchase in automatic future instalments (the first of which is taken at the time of purchase). They also have the option to pay more or less at any time, or pay off the remaining debt in its entirety – both of which will affect the overall amount of interest they pay.

Nectar wishlists

Connecting the merchant directly with their consumers – to push products and services at the prices they're willing to pay.

1. Customers add items to their Nectar wishlist

2. Merchants who sell these items will be notified that a customer wants it, and how much they're happy to pay

3. Merchants can push offers to these customers to secure sales

4. Customers get the items they want at the best price

How does point-of-sale financing work?

Here is one potential web route for the Nectar financing option via third party checkout, based on the existing model of UK-based finance provider, Clearpay.

  1. At any Nectar partner checkout, the user is offered the option to pay through Nectar financing.
  2. The user is prompted to enter their contact number to run a soft, real-time credit check to see if they qualify for financing.
  3. If successful, the user is then prompted to select from a tiered range of financing options – from shorter-term offerings with lower interest rates to longer schedules with higher rates. In all cases, user will be expected to pay in future staggered instalments (the first of which is taken at the time of purchase).
  4. If they qualify, the user will then pay for their purchase over their selected timespan. They also have the option to pay more or less at any time, or pay off the remaining debt in its entirety – both of which will affect the overall amount of interest they pay.

Budgeting and financial support

  • Supporting Nectar customers to save, using an extended savings and investment marketplace (which includes Sainsbury’s bank as an option for savings), as well as target-defined savings pots.
  • Giving users a place to create lists of the things they need to buy, allowing Sainsbury’s Group and Nectar partners to provide personalised offers and discounts on these items.
  • Support the individual with their financial planning. Helping them reduce their spend, manage their budgets, save for future events, and access fair credit as required.

Savings pots

  • Providing the user with unlimited target-oriented savings pots, where savings are skimmed automatically each month.
  • User can pay for things in-store or online using money from pots, as well as top up manually.
  • App offers encouragement and insights on user savings, letting the user know if they are on– or off–track to hitting their target.
  • Pot is fully customisable, offering the user the ability to upload a headline image of their choice to help visualise their goal and spark that extra kick of motivation.
CACI predicts that by 2021, mobile banking will become the biggest channel in terms of users in the UK. Apps will overtake high street branches to claim the number one spot, and the proportion of customers using apps for banking will continue to rise in the UK over the next four years, reaching 71% by 2024.

Andrew tarver, founder of Jigsaw XYZ

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