Plato is a company from London, whose goal is to solve money-related problems regarding transfer from abroad back home, in the Balkan peninsula. Plato allows its clients to transfer money quickly and easily, via mobile apps, to family and friends alike.
We were initially employed to manage the project and to provide Product Management support in the development of money transfer mobile app, as well as the company’s website. This cooperation has significantly expanded over time, and therefore our team now represents Plato, and for this client, aside from product management, we provide marketing and business strategy, as well as fully controls the development.
What presents as the main challenge is the need to implement relatively complex technological solutions, that uphold the system of money transfer, through a simple and user-friendly interface on mobile application. Features, tied to quick and easy money transfer, which many competitors have already implemented both within Europe and across the world, now needs to be applied and adapted to the Balkans and, in the initial phase, the Serbian diaspora.
To introduce users from the Balkan to a mobile application that will be easy to use and that they can rely on when sending money to their friends and family. To build trust with potential users in order to entrust part of their financial resources to Plato. To achieve all this with adequate time to market so that competitors wouldn’t beat us to it.
At the very beginning of this project, we were dealing with communication with potential users and understanding their needs as well as the means they currently use. Out of that, we drew our own conclusions about the means of communication regarding the target audience, as well as the needs that we need to satisfy with the product.
Based on information drawn from the market, and in accordance to the business model and goal of the company, we created product specs and a plan of activities.
The site is the initial step in entering the market, which is how we positioned the company Plato and explained to potential users what they can expect regarding solutions that are created for them. We also enabled two-way communication and collection of additional information from the market.
In cooperation with external associates, we worked on the development of android and iOS mobile applications, which is the most complex part of the project. The application has several layers and different user levels of access, depending on whether money is being sent or received. In addition, we had to comply with all standards and requirements of providers such as MasterCard, as well as the specifics tied to the country in which the user is located in. The main features include connection to bank accounts, adding credit cards, sending physical cards to users, sending money, adding family members to the system, money transfer.
With the development and launching of the product, our job on the Plato project is only beginning. We are in charge of the complete business plan, as well as monitoring the results and further improvements. A product like Plato will definitely continue to expand through additional features, while systematically opening new markets, with many challenges yet to come.
Connecting app (Wallet) with the user’s bank account, while ensuring maximum data security
Adding family members and friends to the user account with only a few clicks
Sending money between different accounts with detailed monitoring of balance and spending
Complete control on spending funds with the ability to lock and block the account