Now Bank

Creating and launching the Mexico's first NeoBank.

Challenge

INVEX Banco and strategic innovation leader Raven united with a visionary goal: disrupting finance with a fresh value proposition for the Centennial generation. The pandemic catalyzed this collaboration, revealing an opportunity to revolutionize personal banking. A thorough market analysis highlighted the need to redefine the industry, prioritizing the dynamic Millennial/Centennial segment in Mexico. The aim is not just to enhance the customer experience but to create and capture unprecedented value.

Solution

Raven and INVEX collaborated to create, develop, and execute a comprehensive disruptive approach driven by design, technology, and data. They jointly created and executed an end-to-end proposition, a new solution: Mexico's first neobank, Now, designed for an underserved segment with a customer-centric approach. Over 30 screens were crafted for the prototype during the construction phase, and the bank's operations underwent a comprehensive redesign. Implementation involved integration with WSO2 API manager/gateway, app development, and automation for testing. The launch strategy covered commercial, branding, and communication strategies, making Now a transformative neobank, a testament to the successful collaboration between Raven and INVEX.

Key

The successful launch of Now, a collaboration between INVEX and Raven, positioned the neobank category in a market blending fintech, traditional banks, and neobanks. With an MVP in 9 months, Now gained 22,000 users on the waiting list in two weeks. Notably, 60% deposited funds on day one, and 25% were "heavy users."

INVEX Banco's digital transformation via Now expanded its reach and tailored a Millennial/Centennial-friendly experience. Now combines fintech user-friendliness with bank security through a fruitful collaboration with Raven.

220%

acquisition target in its
initial 7 months post-launch

72k

Customer activation

44%

Active customers

22%

Monthly Active Users

We reinvent the finance of the Mexican market.
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