About Fego

Fego.ai is an open finance platform that allows businesses to gather financial insights from their users' banking transactions. It provides real-time engagement by offering personalized financial experiences as part of the customer journey. Fego.AI is the first Indian open finance startup to join the Mastercard Start Path Open Banking program. It securely connects customers' bank accounts through the Account Aggregator Framework launched by the Reserve Bank of India, making data accessible to all financial institutions in India. Fego.ai is located in Chennai and has a team of over 25 employees.

A Little Story Between Me and Fego 🕸️: When I joined the company, I was the first in-house designer. Now, we have a team of three designers. From day one, I had the opportunity to learn a lot from each module and contribute to all the products, including some from scratch. Over time, we primarily focused on three modules: Fego Connect, Fego Intel, and Fego XP. In this case study, I am going to talk about one of my massive projects which also happens to be one of my favorite ones. I was the sole designer who owned this project and worked on it from start to finish. But I did collaborate with a lot of other people for this project.

1. Product Managers: To fully understand the project's scope and requirements, we introduced new elements like the home screen and a leaderboard while revamping existing flows to add value to the modules.
2. Design lead: To get timely feedback on my designs and the design direction.
3. Engineers: To ensure that the final output matched the design exactly with respect to the API

Why PFM

Over 6 out of every 10 people do not budget, according to a Twitter poll with 1000+ responses

1. If the majority of people don’t budget, the ideal PFM will help people start budgeting and tracking expenses easily. The hypothesis is ‘the easier the app is to use, the higher the adoption will be.’
2. people who budget and track expenses using these methods don’t stick to it either:

• ”i have a spreadsheet. I**’m not very regular in adding my transactions** there, so there is a lump of money under [Miscellaneous] every month. I’ve been meaning to automate the spreadsheet, but haven’t sat down long enough”
• ”Started with a spreadsheet, then I found [an app]. But I wasn’t able to keep up. After a month, I stopped budgeting altogether throughout 2020”

https://twitter.com/AdoraNwodo/status/1288098535909593089?s=19

Why iXP 🧠

• We develop the product based on input from stakeholders and product managers. We make additions or remove features based on client demos and customizations.
• However, for this particular module, we want to conduct internal testing first.
• Internal testing allows us to gather valuable insights, understand what makes sense and what doesn't in the project.
• We specifically focus on testing the functionality of the BSA (bank statement upload) feature

Ideate 💡

• We aim to revamp the designs for several modules, including Budgeting (track budget, expense report, and set a budget), Savings goals (a new module), Financial health score, and Financial calendar.
• We have some ideas on how to improve these specific modules.
• In addition to the revamp, we want to add extra features to create a comprehensive Personal Finance Management (PFM) solution.
• The goal is to have all modules integrated into one platform, similar to the concept of the Avengers' gauntlet, where all functionalities are brought together.

Features (what’s on the plate) 🍽️