Now.Bank: Helping a traditional Mexican bank reinvent itself for a new generation
Role · Design researcher - Service designer - Strategic designer - UX Lead
Business Context
Traditional bank losing relevance in an increasingly digital market.
Needed to identify new growth opportunities rather than redesign an existing product.
Limited experience working with user-centred innovation.
Needed to align multiple departments around a shared product vision.
Outcomes
22,000 users joined the waiting list in two weeks
60% deposited funds on day one
25% became heavy users
Introduced collaborative, evidence-based ways of working
Background
A traditional Mexican bank recognised that its long-established business model was becoming increasingly vulnerable. New digital-first competitors were reshaping customer expectations, and the organisation needed to identify where its next opportunity for growth would come from.
Rather than redesigning an existing product, we were asked to identify new opportunities for growth. The project began as a greenfield exploration of customer needs, market opportunities and future value propositions before any product direction had been defined.
The challenge extended beyond identifying the right opportunity. The client was also taking its first steps towards customer-centred product development and agile ways of working, requiring us to balance strategic product definition with organisational change.
After a generative research process and the prioritisation of opportunities, we conceptualised and developed Now.Bank, a neo-bank aimed at helping Mexican millennials achieve their financial goals while simplifying the banking experience. The platform allows users to easily make transfers, pay for services, and set savings goals.
Discovering the opportunity
We began a with broad generative research phase.
Through interviews, observations, benchmarking and market analysis, we explored multiple customer segments and uncovered different financial behaviours, aspirations and unmet needs.
One insight emerged consistently across the research
Many young professionals wanted to save towards meaningful goals but struggled to build sustainable saving habits. Existing banks focused on transactions, while newer fintechs often lacked the trust associated with established financial institutions.
This insight became the foundation for the value proposition, influencing everything from the product vision to MVP priorities.
From research to product strategy
Research generated several possible directions for the bank.
Working alongside strategy consultants, we evaluated each opportunity according to customer desirability, market attractiveness and business viability before recommending a direction focused on purpose-driven saving for millennials.
I then facilitated workshops bringing together Marketing, Financial Products, Technology, Legal and Design teams to align around a shared product vision before discussing features.
Defining the MVP
One of the biggest challenges emerged once the product vision had been defined.
Our initial MVP attempted to solve too many problems at once.
Although ambitious, it underestimated both the technical complexity of delivering a digital banking platform and the maturity of a newly formed cross-functional team.
Rather than forcing delivery, we reframed the discussion around a simple question:
What is the smallest product capable of delivering meaningful value while still creating the conditions for adoption?
Every feature was prioritised according to three criteria:
- User value
- Technical feasibility
- Market viability
- Regulatory compliance
This resulted in a significantly more focused MVP that accelerated delivery without compromising the core proposition. For instance, we initially wanted users to create multiple collaborative savings groups. While highly desirable, the engineering effort would have delayed launch significantly. We decided to postpone the feature in favour of delivering individual savings goals first, allowing us to validate the core proposition before expanding it.
Translating strategy into experience
Once the MVP had been defined, my role shifted from strategic discovery to service definition and delivery.
I translated the service proposition into a intuitive experience by defining the information architecture, user flows, interaction patterns and MVP journey.
Throughout delivery, I continuously balanced user needs, engineering constraints and commercial priorities, validating decisions through user testing and close collaboration with Product Owners and developers.
Building trust through evidence and collaboration
One of the most valuable moments during delivery came when our consultancy team and the client's internal design team disagreed on the interaction model for an important feature.
Rather than debating which solution was correct, I suggested combining ideas from both teams into testable concepts and validating them with users.
The result extended beyond the feature itself.
It changed the relationship between both design teams.
Client designers became embedded within delivery squads, and user evidence became the basis for future product decisions rather than individual opinion.