Get paid a steady pay cheque even when work is slow or you take time off, with Trezeo
Trezeo Case Study
Trezeo are changing the world for the self-employed and sole traders by helping them manage their finances and forecast for their future.
Who are Trezeo?
Let me introduce our wonderful clients, Trezeo. This team of super talented, hard working individuals are changing the world for the self-employed and sole traders by helping them manage their finances and forecast for their future.
To do this, they have released a product that not only smooths their income but also allows them to plan for time off and any unexpected expenses that may arise. Creating a financial safety net for people with variable, uncertain income.
But wait, what is Income Smoothing?
In layman's terms: by having the user redirect their income to their Trezeo account, Trezeo can then work out an average of their income and provide them with a steady, sustainable wage that helps set aside some money each week/month for the slow periods when work isn’t as busy as usual. The money put aside then acts as a buffer to subsidise their wage for that week. Thus, smoothing out their income. Smooth, right? 😎
MiniCorp + Trezeo = 💪
We first met Trezeo when they approached MiniCorp to work on their new Credit Limit product within what was the current application at the time. The goal was to provide the user with a credit limit to further increase their financial security when their income may not cover their weekly wage.
The main piece we worked on was the credit application process and a new “Credit Dashboard” within the app to manage and keep track of credit usage. Using domain knowledge from the Trezeo team and MiniCorp’s product experience, we streamlined the process and created a solution that was both easy to navigate and visually pleasing, while also keeping with current branding guidelines that were in place.
During this initial workshop and sprint, an amazing relationship between MiniCorp and the Trezeo team was born. We found that we worked incredibly well with each other and there was a mutual admiration and passion for the work we were doing together.
It was from here that another sprint was planned: to redesign the app in its entirety. The sprint would cover everything from new branding and design direction to the introduction of some new features that would further benefit the end users.
We felt it would benefit all parties if we treated it as if we were creating a brand new product from scratch. We planned for two mini sprints either side of a user testing session to validate ideas and features proposed by both MiniCorp and Trezeo.
To get the ball rolling on the product redesign, we had an ideation/brainstorming session, with both MiniCorp and Trezeo teams present and contributing different ideas for the problems we were trying to solve. This proved highly beneficial for the entire sprint and kept everyone on the same page from the get go.
The initial iteration served up some really great, innovative ideas. A proposed “Stability Score” was to feature heavily on the home dashboard to provide users an indication of how they are doing in relation to their financial stability. We also introduced the idea of forecasting for future events such as holidays, car insurance or income tax. These ideas, coupled with a new direction in the look and feel of the app really brought the product to life.
User Testing in London Baby!
At MiniCorp, we truly believe in validating ideas as early as possible. And this was no different with Trezeo’s product. Once we had finished the first iteration of designs, we got to work on a prototype, while Trezeo recruited testers and scheduled a user testing session over in London (where Trezeo’s customers are based) to see what we got right and, more importantly, what we got wrong.
The session threw up some great results. Our innovative “Stability Score” ultimately proved TOO innovative and users found the concept hard to understand. It proved that users would expect to find a monetary amount here similar to a lot of other fintech products, detailing how much they had in their income account rather than just a score.
We did have some good news, however. We were delighted to see our feature for forecasting future events give us a big win. The concept of planning for the unexpected expenses resonated with each user and they understood how they would use it. Woo! As much as user testing is to show where you can improve, it is always amazing to see a user grasp a feature from the get-go.
After compiling the data and results from the test, we made some quick decisions as a team on what needed to change and got to work on the 2nd iteration.
The Redesign: Part Deux
Given the results of the test, there were many elements of the application that had to move around to suit the needs of the end users. Our beloved “Stability Score” was placed on the shelf for now (we may introduce this in the future 😉) and their income balance and wage information was moved back to the homescreen. We also did some further work on streamlining certain processes and updating the branding to keep with Trezeo’s new brand guidelines.
We are super proud of the results. The product not only looks amazing with a fresh modern design, but the usability has been greatly improved through the hard work from both Trezeo and ourselves over the course of the past two sprints.
Barclays Techstars Accelerator: The Unveiling
Earlier this year, before we began working with Trezeo, they had been selected to participate in the Barclays Techstars Accelerator programme in London, which culminated in a Demo Day on May 1st. The timing of the redesign could not have been more perfect. We worked with Trezeo to provide them with as many assets as they needed to include in their demo day. They selected the most relevant screens for what they were pitching and we created mockups to include in their pitch deck. The results were amazing! And watching Garrett, the CEO and co-founder of Trezeo, unveil the designs that we all worked so hard on at Techstars made us feel so proud of all that we have accomplished together this year.
The Next Steps
When we started working with Trezeo, we knew we were working with a passionate team, willing to go the extra mile for their customers. We were sold on the idea from the get go and have poured everything we have into helping them achieve their ambitions and goals.
We are continuing to do this by helping them iterate on the product and, ultimately, get these new designs built and release them to Trezeo’s users. We are hoping to go live in the coming months, so watch this space.
If you are looking for further information on Trezeo’s product, you can find them on all social channels under the handle “@trezeohq” or by visiting www.trezeo.com.