Personal finance is evolving (and not before time, many would say). WONDR has worked with 11Onze Banc, the first Catalan bank in over 100 years, to help them create the next evolution in banking.
In Spain as in many European markets, Revolut and N26 dominate the younger and more tech-savvy end of the market. However many users treat fintech as little more than apps to move their cash around.
This behaviour shouldn’t surprise anyone. N26, Revolut and others have built their appeal upon three factors; technology, utility and purposefully homogenised identities that are designed for digital nomads. Although these brands provide a stark counterpoint to the tradition (and somewhat distrusted) financial institutions, this ultimately leaves the public to choose between two extremes.
But where does community fit in all of this? What about cultural understanding and the duty-bound responsibilities that financial institutions are meant to provide neighbourhoods? They are supposed to be part of (and work for) their local community. They are meant to support (and inherently understand) local culture. The traditional institutions may have betrayed their communities’ trust, but as a counterpoint, fintechs have simply removed the notion of community from their equations.
A Better Balance
11Onze believe that the next generation of personal finance will use technology and innovation to embrace and empower local communities to build cultural pride and enable financial sovereignty for their society. To achieve this future they are starting from scratch, building a physical network in parallel with an innovative digital experience. Working closely with the 11Onze leadership team, we have created the customer experience for this across app and web.
James Sene ChairmanWONDR has turned Beauty, Simplicity, and Usability into Science. At 11Onze, we have serious doubts about the terrestrial origins of this crew :) You simply cannot find a better partner to implement your vision.
11Onze