I, like most other new Dozens customers, use or have used plenty of fintech apps (moneybox, Monzo etc). So it’s been really good to understand what is out there on offer.
In my early days of using Dozens there are two points of feedback I have regarding the savings section of the app.
I have set up two different wishlists and can see I am working towards a cumulative target for both. However, as I’m sure you’re aware, some savings goals are more important then others and I’d like to have more control for where my savings each month/week end up going towards.
Secondly, the savings feature revolves mostly around having targets. Some savers, myself included, have some very clear targets and then some pots of savings that i’d like to build indefinitely with no target in mind. Typically a rainy day kind of savings pot, just in case.
Looking at Monzo as an example, I feel they do both these things quite well. It’s usability is simple and you can choose which pot to prioritise and you don’t need to have a target for each pot.
I am in total appreciation of where other competitors are in terms of their app development and Monzo’s release of pots came way after their initial account release, but it is one of those features that creates a stickiness to their app.
It would be great to understand some of the development runway for the savings part of the app in terms of functionality and usability?
It also would be great understand if there is going to be an interest rate provided on a flexible savings account? I think fixed bonds and investments are good obviously for creating some certainly and building the company’s balances, so I’m sure this has been a considered in terms of the customers you are looking to acquire, but I know a lot of customers won’t like the inflexibility of fixed savings/investments.
By the way, I think the savings rules are very different and excellent.