Introduction
N26's budgeting tools are crucial for helping users achieve their financial goals. To enhance these tools, we need to understand user needs, identify pain points, and develop innovative solutions that align with N26's overall strategy. I'll analyze the current situation, propose improvements, and outline a plan to measure success.
Step 1
Clarifying Questions (5 mins)
Why it matters: Determines the focus areas for improvement and helps prioritize features. Expected answer: Users primarily use budgeting tools for expense tracking and savings goals. Impact on approach: Would focus on enhancing expense categorization and goal-setting features.
Why it matters: Helps identify areas for differentiation and improvement. Expected answer: N26's budgeting tools are functional but lack some advanced features offered by competitors. Impact on approach: Would focus on innovative features to leapfrog competitors.
Why it matters: Determines the potential for personalization and AI-driven recommendations. Expected answer: N26 collects transaction data and some basic user preferences. Impact on approach: Would explore ways to leverage data for more personalized budgeting experiences.
Why it matters: Ensures proposed solutions support N26's strategic direction. Expected answer: N26 aims to increase user engagement, retention, and cross-selling opportunities. Impact on approach: Would focus on solutions that drive these key metrics.
Tip
At this point, you can ask interviewer to take a 1-minute break to organize your thoughts before diving into the next step.
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