Thursday, June 27, 2013

Axa Innovates In The Banking Industry: Introducing Soon

Axa launched on June, 1st Soon, a new mobile tool to manage personal banking accounts. My friend Henri Kaufman had the opportunity to try it as he was invited to the launching event of Soon. 

What is interesting with Soon, and what differentiate it from other applications launched by competitors, is that Soon has been based on the theory of Mickael Mangot, expert in the financial industry, that money does not make people happy.

The key strengths of the service:
- The tool allows you to program expenses in the near future to help you manage your account.
- The tool saves time: It is easy and fast to use, while usually keeping track of your bank accounts may take you a lot of time with traditional tools (tell me about it, with my complex Excel sheet I use!)
- The tool allows you to see the previous expenses, and therefore to analyse how your global expenses work, and where you may save money. This also creates opportunities for Axa to allow customers to save money that people will be able to place in their different products.

The challenge is high, but once you see this video, you clearly understand that Axa worked well around this problematic. 

soon from Soon on Vimeo.

I don't have any information yet on how many users have already downloaded Soon, or how many uses it, but clearly the service is efficient, and I believe that Axa took the lead on this topic.

I think these kinds of tools create a real added value for customers. The success of Mint in the US (which I can't help seeing it in France...) is a good example. Here is a video on how Mint works.