When Shoal wanted to shake up the banking world, they came to us to build an app that could help everyone save money and save the planet.
It’s no secret that banks take their customers’ cash and invest it to make money. But how many people really know where their funds are going?
Shoal wanted to address this lack of transparency. It’s a new breed of digital savings account that only invests in sustainable projects, whilst also delivering a market-leading savings product.
We began working with the Shoal team when this was still just a rough idea. We guided them through the whole process, from defining the proposition to brand design and user testing, as we built this innovative banking app.
We partnered with Standard Chartered, using Starling Bank’s Banking as a Service (BaaS) platform, to create Shoal. The success of the app development relied on top-quality collaboration, and incredible discipline regarding the KPIs.
The team made use of our end-to-end capabilities, from user research through to proposition and brand development, experience design, and engineering. At every stage we checked that the app design resonated with users, making sure they understood how their savings would actively contribute to making a positive change in the world.
Sustainability is all about balancing the environment with economic development. For Shoal to make the biggest possible impact, it needs to have the right people on board to help it thrive for years to come.
By the time we neared the end of the project, we were working as a fully blended team. This meant we could help Shoal hire the right people to scale the app, and get them up to speed before we stepped back. So we not only helped to build the venture, we set them up for operational success.
It took just 15 months to take Shoal from idea to fully-fledged savings app. Now, users can easily invest in renewable energy, clean water and community development. They get a competitive interest rate, and they can see the direct impact that their choices are having on the planet.
Shoal taps into a growing awareness of sustainable investments, particularly amongst a younger UK audience. We’ve been delighted to give people an accessible, simple and sustainable way to save, where they can be sure their money is in good hands.