Pitto Wealth Manager
Project type: 0 to 1
The challenge of financial literacy in Indonesia is a journey full of complex obstacles. Although there have been various efforts to improve public understanding of finance, there are still many things that need to be overcome so that financial literacy can be achieved evenly. One of them is the lack of education about finance. To answer this challenge, we try to come in and provide a solution to this complex problem by launching our product, Pitto Wealth Manager.
My Role :
Digital product designer
Timeline
October 2023 - December 2023
8 mins read
"Picture yourself, as a middle-class, ambitious office worker with big dreams and a myriad of life plans, but every end of the month, you are again struggling with financial realities that never get better. Are you willing to continue to feel trapped in this cycle, while the aspiration to achieve prosperity continues to haunt you? You don't even know whether your financial condition is healthy or not."
As an individual, sometimes recording, tracking, planning and knowing your financial condition is a challenge in itself.
Amidst Indonesia's economic growth, middle-class especially office workers are one of the important pillars driving the country's economic activity. However, even though they have quite good earning potential, many of them still face serious challenges in terms of personal financial management. This is especially evident from the low level of financial literacy which has a direct impact on less wise financial management.
Through a series of in-depth interviews and in-depth observations, we found that many individuals, especially in the 23-32 age range, do not fully understand their financial condition. They are often unaware of whether their income and expenditure patterns are healthy or not. This inability to evaluate financial health indicates a large gap in basic knowledge about financial literacy.
In addition, many of them want to learn and manage their finances better, but are limited by access to the right tools and resources. Most of this group are office workers, both single and married, with varying financial goals, such as saving for the future, buying a house, or planning for early retirement.
Why Should We Build this Product?
This problem is compounded by a lack of easily accessible support and guidance to help them manage their finances effectively. As a result, many feel overwhelmed and unsure of where to start in improving their financial situation.
In response to this situation, Pitto Wealth Manager was developed with the aim of providing a reliable and accessible solution to help middle-class office workers in Indonesia better manage their finances. The app is designed to educate users on the importance of financial literacy, helping them track expenses, plan their finances, and achieve their financial goals with guidance from professional financial planners.
Understanding the User & Current Situations
To understand the problems faced by users, we conducted in-depth interviews and direct observations of real problems and stakeholders' personal experiences. An important finding from this study is that many people do not know their financial condition, whether it is healthy or not, based on income and expenditure parameters. This shows a gap in financial literacy that needs to be addressed.
Define the Findings Results | Data Research
To understand the problems faced by users, we conducted in-depth interviews and direct observations of real problems and stakeholders' personal experiences. An important finding from this study is that many people do not know their financial condition, whether it is healthy or not, based on income and expenditure parameters. This shows a gap in financial literacy that needs to be addressed.
We conducted qualitative interview with 5 people from various background and unique concerns of each.
To wrap up their opinions, we use empathy map to put deep understanding of their concerns
Image : Research findings summary
We summarize 4 important points of the problem that we can use as an opportunity to create product features for the Pitto Wealth Manager application.
Based on the identified personas, it is clear that the main challenges faced by people revolve around effective financial management and wise investment decision-making. People have difficulty balancing daily expenses with long-term financial goals, and feel overwhelmed by diverse and complex financial information. And this application product can be there to answer these problems and clear guidance, helping people achieve financial well-being by utilizing features such as Net Worth Tracker and Financial Planning.
Concept Ideation
In the ideation session, we used a combination of brainstorming and mind mapping to develop effective solutions. In the first project sprint and we are about to launch the MVP app, we listed down what feature functionality that we are gonna build. The feature should answer user needs and pain points based on our first qualitative research interview and we believe these main features will bring big impact to our user :



Image : Feature prioritisation
Designing the Interface
Based on the data from the initial research, we developed an initial prototype and launched the Minimum Viable Product (MVP). The main features implemented in this prototype are Net Worth Tracker, Financial Planning, and consultation with Financial Advisor. This prototype is designed to provide practical and easily accessible solutions for users in managing their finances.
Login flow





We use OTP and PIN authentication to login. 2 layers of security
Designing user experiences based on user’s financial goals






Financial condition interface
Homepage / Overview
This page is an overview of personalized spending. The data is obtained from spending records, and visualized with charts. The label "healthy finances" is when the difference between income is greater than expenditure


On the second slide there is a banner to access financial consultation with a financial planner certified by CWMA (Certified Wealth Manager Association)
Transaction record









Wealth consultation feature

The financial consultation feature with experts is targeted as a revenue stream for Pitto products. Because financial consultations are charged for the session and we will take the margin from here for business wise. The financial expert is CWMA certified.








Payment method for consultation
For MVP release, payment method can only be done by transfer to account number.











Lesson learned
Minimum Viable Product
My co-worker at Semaai built a company and invited me to contribute. I ran this project as my side job. We launched an MVP to the market to test user response. While full feedback data is not yet available, we welcome feedback to create a version that includes shop or B2B notes. This feedback will be used for future design iterations and feature development.
Implementation & Impact
The Pitto Wealth Manager application has been launched in the form of an MVP and has received a positive response from the public. Currently, the application has been used by more than 100 people, with many users relying heavily on the Net Worth Tracker and Financial Planning features. The success of this application is measured by how many users consider using the services of a Financial Advisor and maximizing the existing features.
Image : One of the users uses the transaction record feature
Bootstrapping
My co-worker at Semaai built a company and invited me to contribute. I ran this project as my side job and launch this application product at the end of 2023. Due to limited funds, we carried out the product development process as efficiently as possible. And what we are currently developing is a minimum version of the product to test our hypothesis, alongside comparisons with competitors in similar fields.
Image : First 100 users since launch
Update
Product & Company Re-branding
We found out that there was already another company that had patented the name "Pitto" when we were going to take care of the HKI legality (the right to obtain legal protection for intellectual property in accordance with laws and regulations in the field of IPR, such as the Copyright Law, Patents, Industrial Designs, Trade Secrets, Plant Varieties, Integrated Circuits and Trademarks). Therefore, we re-branded the product and changed its name to "SMBD Wealth Manager"