Designing a virtual bank app targeted at Hong Kong’s affluent millennials

Standard Chartered Bank was awarded one of the first digital bank licenses in Hong Kong. I was part of the team at R/GA tasked to design the MVP for their digital product.

Hong Kong is an expensive city to live in and many millennials find it difficult to manage their expenses. They often find themselves living from paycheck to paycheck and are often broke by the end of their pay cycle. The natural of jobs is also changing. More people are freelancing and going into the gig economy where their paycheck is no longer “at the end of month”.

Traditional banking systems are not keeping up with the lifestyle changes of this new generation. It is often fragmented across various touchpoints, lacking in timely updates of one’s overall finances.

Taping on key cultural and behavioural insights, Mox aims to help millennials save and plan their finances better. Features are also designed based on Hong Kongers’ “Jetso” mindset of maximising every dollar, allowing customers to “earn as they spend” and rewarding them for their engagement with the bank. Every touchpoint in Mox’s smart banking system aims to make banking less of a chore and more of something that integrates into their lifestyles.