I wanna share an insight on how the Startups like Jar and Decimal are cultivating behavioural investing by rounding up user purchase to near 10…or 20 in an auto-pay model.
Actually this may not seem like a big thing from outside but the behavior that is developed.
#will surprise the use after doing it for some time, especially for a 18-25 person.This would really feel like FREE MONEY sometimes.
#will bring traffic in transactions as ,people will opt Jupiter as a habit.
So I suggest Jupiter to try to include the feature with your cool UI/UX systems. This will become a HIT in the youngsters.
Yes niyo invest the change follows the same concept.
Frankly speaking I haven’t used this feature from anyone but I strongly believe that the behaviour made from these services will make the users hooked.
But the hype and huge fundraising by startups revolving around the same feature is just mind blowing and raise questions on How do they get profitable
But this feature in a Neo bank like Jupiter with an ecosystem of debit card, UPI along with rewards given through gamification User interface will be amazing
In terms of “creating a habit”, we’ve done something of our own.
The savings challenge! It helps users to save bit by bit in order to achieve a goal. An addition, you get rewarded along the way for your healthy savings habit (That is, being on time) :alarm:
The only con is that it’s for 6 weeks. We need something permanent huh
Something more ‘unconscious’? Savings should be an instinct.
I dont think it improves the saving habit of the user but I think it could make a difference to people who spend to much and complains that they cant save money…
To my opinion majority doesnt think about saving until a moment comes at which they regret about it…
Fi rules is a good one + Investing the saved amount in mutual funds like in niyox makes the user less tempted to spend it (until user gets emotional that their fund is performing low)… User get to choose whether they opt in or not, which rules to choose, whether they need to save it in pots or mutual funds…
This would be a good feature… But i dont think i need it (my friends would need it )
Companies soling building on providing this rounding off and savings feature which I mentioned above”…How do they generate revenue or PROFIT.
( I know that they sometimes invest these savings to direct liquid mutual funds or digital golds( like niyo,jar) but there also no scope for revenue right? )
I do. FI has it. It’s called “FIT rules”. I love it! Auto saving change into jars is ridiculously fun, and if done right that’s more user interaction with the app.
This is must have and should have priority over everything Jupiter is doing.
This is the only thing which is stopping me using Jupiter full time.
FI is too good in this.
but I strongly believe that the behaviour made from these services will make the users hooked.
(my friends would need it )
