Bright Money.

Bright is an AI-powered app designed to help users manage and repay debt while building credit. It consolidates multiple debts into a single, manageable credit line of up to $8,000, allowing for simplified payments and improved financial control.

problem

The primary objective was to develop a unified financial management app that consolidates debt, automates savings, and aids in credit building. The goal was to create a user-friendly platform that effectively addresses the pain points identified in competitor offerings, ensuring a seamless financial management experience for users.Challenge Limited to a web-only version Low user retention Ineffective UX, resulting in low task completion and user frustration Low onboarding conversion rate Increasing cancellation rate

solution

Based on research findings, I proposed the following solutions: Core Solutions: AI-Driven Debt Management: Automatically consolidate and manage debts using AI to offer optimized repayment plans. Automated Savings: Set up savings goals with automated contributions based on users' income and spending patterns. Credit Building: Report on-time debt payments to credit agencies and offer credit score tracking. Feature Prioritization: Prioritized features that offered the most user impact—starting with debt management and credit-building tools, followed by savings automation.

Increased Retention Rate:
The product initially struggled with low retention due to poor engagement. After introducing user-friendly designs and AI-powered debt management, retention improved by 24%, with session lengths increasing by 40%.

Improved Task Completion:
Poor UX led to low task completion rates. By streamlining flows and adding AI-driven automation, key tasks like debt consolidation saw a 35% improvement, with a significant boost in user satisfaction.
Enhanced Onboarding:
A complex onboarding process caused high drop-offs. Simplified onboarding, personalized steps, and educational touchpoints boosted completion rates by 50%, increasing user confidence.
Lower Cancellation Rate:
High cancellations were reduced by 30% after clearer value communication and personalized recommendations, making users more likely to stay.
Better User Experience:
The app gained 500K active users and saw significant growth in MAU and DAU, indicating higher satisfaction and engagement.

The BrightMoney app successfully combined debt management, credit-building, and savings automation into a simple, user-first platform, distinguishing it from competitors and meeting real user needs.

year

2023

timeframe

1 year

tools

Product Strategy, UI/UX, Design system, Customer Development