Editor’s note: Today’s post comes from Aritra Chakravarty, Founder and CEO of Dozens. Dozens is rethinking the banking industry using Google Maps Platform to help its customers change the way they spend and save money.
When we started Dozens in 2018, we wanted to create a new kind of fintech startup. We challenged ourselves to ask the questions ‘What if customers could map all of their spending anywhere around the world? What if they could have a financial app that helps them to save money by showing them exactly where they spend it?’
While the fintech revolution has led to a lot of highly specialized money management options, its very success means that people are now managing their money across multiple apps. Ironically, despite all this new technology, many users still rely on a spreadsheet to see their complete financial picture. Our app changes this model by offering current accounts, budgeting and saving tools, and investment products all in one place.
We give our customers an in-depth understanding of how much, where, when, and how they spend money. To do this, we integrate rich places data from Google Maps Platform into the app. This helps customers visualize transaction location data and gives customers context for their spending, allowing them to not only understand their habits and trends, but also reduce anxiety around potential fraud and misuse of financial products.
Our app also provides different visual summaries of how our customers spend, including a heat map showing when they spend. This gives them insight into whether they spend more at different times of the day or different weeks of the month or year. At first, it was a static map that displayed how much they spent in different neighborhoods or parts of the world if they’d been traveling. With dynamic maps, users can now zoom into those places and get aggregate data for any area they define. This enables insights on everything from holiday spending to which areas of their own city tend to lead them to overspend and might best be avoided. With Google Maps Platform, we’re able to extend the basic location details for spending to become a way for users to save money.
See how Dozens rethinks the fintech industry with the help of Google Maps Platform.
For more details on Dozens’ success with Google Maps Platform, read the case study. To learn more about Google Maps Platform, visit our website.
