TLDR: WATCH THE VIDEO (click above)
Clarifying point: this teardown is about a fintech app that helps you manage your money, not Sam Altman’s new company’s product Copilot. :)
If you’re having conversion/onboarding problems, you should talk to fintech people. If anyone should know how to do onboarding, it’s them. They have to get their users to do hard things—for instance, sync their bank account, set up a password and PIN, and verify via email. OMG that is hard! But we can do hard things, right? Right? 🤨
Copilot’s onboarding flow has some clever hacks hidden in it. For starters, I love how they frame notification opt-ins. But they also missed some opportunities to make hard things more fun (spoiler: I end up saying “make it like ‘hot or not’” 5+ times in this teardown). 🫣
TL;DR: consumer fintech products are either dead or have yet to come alive. What do I mean? With the death of Mint, there could be a new opening for an app to help consumers manage their money. Think about it: we all spend more than we want and save less than we want. We all want to have more money. This should be a massive market. 📈
But to date, fintech products haven’t made it easy enough. People don’t sync all their accounts. They don't recategorize their money and budget every week. They don’t trust the pie charts. 😒
So if you want to nail your fintech product, you can’t follow the same old recipe (Copilot, this means you). My hope? That AI will breathe new life into the financial management conundrum—and make doing hard things fundamentally easier. 🤖
Watch this teardown if you’re working on onboarding or are in consumer fintech.
Things I rant on:
💵 Transaction categorization
💵 Empty states
💵 Budgeting
💵 Notification opt-ins
…and more. 💡
See you next time. 👋
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Questions about your product? Email kristen@irrationallabs.com.
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