A capstone project gave learners much-needed exposure to how a successful product is developed from scratch. The hands-on experience backed with the conceptual understanding of several frameworks and theories enables them to become brilliant teammates, managers, and leaders in the Product Management field and in any industry overall. So, let’s look at one of the projects by a group of learners properly known as Project Moneyman.
Problem Statement
One of the things that the education system has failed to teach a lot of the young people in this world is how one should manage their finances and how taxes work. As we grow up, we learn more about both, but in some cases, it is too late. To top this, numerous unfortunate layoffs and salary cuts, owing to the recent pandemic, have made budgeting and sustainable financial planning way more challenging than ever before. Prioritizing financial commitments and keeping track of the various payments is often considered quite a daunting task for many.
Solution
Considering thoroughly researched market insights and user pain points, the team resolved to develop an application called Moneyman in the Fintech domain, aiming at creating a one-stop solution to meet all financial planning needs of the customers in the market.
The vision of the app is to:
- Enable people of India to save money for themselves effectively
- Create a habit of controlled expenditure by helping them understand their expenditures category-wise
- Help them build a long-term saving habit and bring them closer to financial independence
As a part of the product development process, the team applied many frameworks and business models such as Agile methodology, User Empathy Mapping, Value v/s Effort framework, etc. They used Jira to develop wireframes and product roadmap strategies.
Following are some of the differentiating features of their product model:
- The app not only acts as not only a budgeting app but is also linked with bank accounts.
- It can lock spending in some categories.
- It provides all means to do digital transactions, such as providing credit cards, debit cards and setting up UPI payments.
- The app is designed to facilitate the creation and promotion of financial awareness through relevant ads, suggestions and blogs on investments and savings.
Wish to work on such exciting capstone projects and learn new concepts in the field of Product Management? Upskill with Great Learning’s PGP Product Management and Analytics Course today and power ahead in your career. You will have access to mentorship sessions and work on industry-relevant projects with guidance from industry experts. Feel free to reach out to us in the comments below in case of any queries.
PGP PMA students presented the following project at Great Learning. The team includes Nikhil Shenoy, Sai Kiran, Baalamurugan, Manjunath, Raghuram, Nikhil Agarwal, and Karthikeyan.
