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E-Wallet Savings Advisor
- Industry
- finance
- Product Type
- service
- Problem
- Many people are not aware of the best savings options available to them or which accounts they should be investing their money in
- Market Size & User Personas
- People who see the value in consulting with a savings and investment advisor who can help to make decisions about their future financial portfolio and any investment opportunities that might come about as a result.
- Solution
- To provide a financial advisor online that specializes in helping people make the most out of their savings, investments, and other asset plans for the future. This will be a full-service automated way to give customers personalized advice on which savings accounts, stocks, bonds, funds, and other options they should focus on.
- MVP Features
- A website providing online financial advice, notifications about investment opportunities, automated investment planning and account management tools, ability to create a personalized portfolio, and a customer support center.
- Implementation Details
- The MVP can be built using standard web development languages and frameworks such as ReactJS and Firebase on a cloud-based infrastructure. The financial advice tool should be based off machine-learning algorithms and data-driven analytical models which can best categorize different investment options.
- Value Proposition
- E-Wallet Savings Advisor offers customers a comprehensive and automated way of taking control of their future financial plans. It is tailored specifically to their risk-tolerance level, account types, and investment objectives all while giving them expert advice on which savings and investments are right for them.
- Pain Points to Solve
- Too many times people are unaware of what options they have when it comes to saving and investing money. E-Wallet Savings Advisor eliminates this information gap and provides a pathway for customers to make the most out of their money.
- Sales & Marketing Channels
- Sales will be conducted online through a landing page on the company's website as well as through targeted email and other online campaigns. Advertisements and search engine optimization techniques will be used to increase the visibility of E-Wallet Savings Advisor, and blog posts and podcasts can be used to explain the value of the product.
- Revenue Stream Sources
- Subscription fees, advertisement and affiliate marketing revenue, commissions from financial services companies, and consulting services from time-to-time.
- Cost Structures
- Software development and marketing costs, hosting and maintenance costs, customer service costs, and acquisition costs.
- Key Activities
- Product development, marketing, customer service, and financial advisory services.
- Key Resources
- Technical team, marketing team, customer service team, financial advisors, and cash.
- Key Partners
- Financial services firms, banks, and financial advisors.
- Competition Landscape
- Competition is moderate but there are a few notable competitors such as Wealthfront, Rebalance IRA, and Personal Capital.
- Competition Advantage
- Price comparison shopping tool, automatic risk-tolerance level questionnaire, and customization based on individual needs are a few key advantages that E-Wallet Savings Advisor provides.
- Idea Validation Steps
- Customer interviews, focus groups, A/B testing, and surveys can all be used to validate the idea.
- Potential Business Challenges
- Building brand awareness, selecting the right financial partners, securing customers, and increasing customer loyalty.