How do you free the Latin American banking landscape from its structures and resistance to change? By creating a 100% digital neo-bank. No branches, no closed signs, no standard banking fees – just many enthusiastic users!
Working with Designit has been the most streamlined and immersive experience we have ever had at Bancolombia. In working with the team, we now realize how we can create radically new and extremely impressive services in a short amount of time. Andrés Vásquez, CEO
On campus at the University of Medellín, qualitative research with our target audience provided insight into people’s lives, habits and challenges when it came to finances. From this, we formed the cornerstones of our to-be value proposition, such as never discriminate based on the balance of a user’s account. Bancolombia selected one of nine opportunity scenarios and we got to work, performing, partially in parallel, a set of seven sprints for the user app and five for the merchant app. User testing to validate various aspects of our concept was the final step before launch.
A game-changing financial platform designed for those skeptical about traditional banks, Nequi runs exclusively on smartphones. While it operates under Bancolombia’s banking license and offers everyday financial services, Nequi is not a rigid bank in the conventional sense. Instead of charging transaction fees, it generates revenue through value added products and services users can purchase flexibly, depending on individual needs. Key design features provide users with tools to help organize their money, save for purchases, withdraw and send money, and make payments.
This project not only has had an impact on the Colombian people and the future of the financial industry in Latin America, but it has had a profound impact on our organization. Andrés Villegas, Customer Experience Director
Nequi became the first-ever all-digital bank in Colombia. Today, the number of Nequi-compatible merchants and ATMs continues to grow steadily – along with the number of people with access to financial services that meet their needs. In April 2017, Nequi also successfully launched in Panama.
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