Monobank
How we built Ukraine's leading neobank
Launched in 2017, Monobank quickly established itself as one of the fastest-growing neobanks in the world. By disrupting the traditional banking sector in Ukraine, it introduced a fully digital experience, redefining the way people perceive and interact with banking.
The seamless integration of its unique value proposition with cutting-edge branding was anchored by its user-centric interface, meticulously crafted by our team. This design became the bridge that connected Monobank's innovative solutions with its users, playing a key role in providing its unique value proposition.
4.9/4.8
Achieved rating in stores
0
7.8M
User base
1
Awards
7+
Years of partnership
Challenges
- Traditional Market: Monobank entered a market dominated by traditional banks characterized by excessive bureaucracy, long queues in branches, and unfriendly customer support. These outdated practices created significant friction for users and set a low standard for customer experience.
- Experience: While most traditional banks had their own mobile applications, they were far from intuitive. These apps were cluttered with unnecessary functionalities and products, failing to address the real pain points of users and leaving them frustrated.
- Absence of Trust: Building trust for a fully digital bank in Ukraine was a monumental task. The 2008 financial crisis had deeply shaken people's confidence in traditional banking institutions, making it even more challenging to convince users to embrace a neobank.
Our Solutions
- Unique Value Proposition: We collaborated closely with Monobank’s team to test hypotheses around the unique value proposition. By prototyping and testing functionalities, experiences, and design elements, we collectively crafted a solution that resonated deeply with users, creating a product they genuinely loved.
- Clean, Intuitive UI: We designed a user-friendly interface that embraced a minimalist and intuitive approach. This ensured that the interface remained as simple as possible, with all essential features easily accessible in just one tap.
- Viral Features: By integrating innovative features such as instant account opening, user-friendly revolving loans, cashback, and simple budgeting tools, we created a product that not only satisfied user needs but also became viral, winning over a diverse audience.
- Seamless Mobile Experience: The app was designed to operate as a fully mobile solution, eliminating the need for physical branches. This empowered customers to access all banking services anytime, anywhere, directly from their smartphones.
Results
The launch of Monobank marked a turning point in Ukraine's banking sector, bringing about a new era of digital banking. Today, Monobank is the leading neobank in Ukraine, setting the standard for digital banking in the region with its clean design, seamless user experience, and innovative features. The results were undeniable:
- Highest App Ratings: The app achieved high ratings in the app stores (4.9/4.8), reflecting its exceptional user experience.Expanding
- User Base: Monobank quickly attracted millions of users, achieving a user base growth from 0 to 8+ million customers in a matter of 7 years.Industry
- Recognition: The app won multiple awards for its innovation and user experience, helping Monobank establish itself as a market leader.
- Sustained Partnership: The success of Monobank led to a long-term partnership that has spanned over 7 years, continuing to innovate and grow with the bank.
Client feedback
We have been collaborating with the Alty team since 2010 and firmly believe they are the best in the market. Their unmatched expertise was the primary reason we chose them to design Monobank back in 2017.
Misha Rogalskiy
Co-founder at The Credit Thing and Monobank
