Spend Jar the second product we released in Australia and its where all of our banking products live. It contains:
Card and Account
The Douugh MasterCard is one of the first hybrid spending cards in Australia. It allows customers to choose if they want to spend from cash balance or their Spot credit balance. Inside the Spend Jar customers can select where their card pulls from on giving them control on how they spend their money. The account also features spending analytics features to track their money is being spent.
Stockback™
When spending on their Douugh Card or at partnered merchants through Douugh Pay customer earn rewards. Stockback is Douugh’s rewards program rewarding you with cash back directly into your chosen investment portfolio.
Spot Loans
Customers can apply for up to $500 and can use their Spot credit limit in two ways, with their card when spending or as a cash deposit into their bank account. Loans are paid off over 4x weekly payments.
There has also been work for upcoming products such as Higher Spot limits / bigger loans and more in depth spending analytics with connected account data.
The Spend Jar was a big project as it was creating a product that hadn’t really been made before with a hybrid card. This project was centred around months of user research and intense design validation. We wanted to make sure the product we launched was user focused as we wanted customers to feel comfortable using a combined card.
Research for this product consisted of weekly in person and online user interviews, online user testing / design validation and surveying. Each round of testing fed deeply into the design of the final product. With the newness of the product we also have many different funnels setup to capture user feedback once this goes live to understand user behaviour and identify pain-points.
Team
Daniel Feodoroff - Lead Research & Product Design
Mark Taylor - CPMO
Phoebe Finnigan - Product Manager
Scarlett Evans - Head of Marketing