Potion
Achieve your financial dreams
Potion's goal is to revolutionize your finances. Make your spending smarter, give you suggestions on how to improve bad spending habits, as well as provide unmatched solutions to converting currencies, sending to friends, investing, and much more.
Client
Potion
Deliberables
Logo Branding assets Promotional material Landing page
Year
2023
Role
Lead Product Designer
Smart spending
Potion reimagines standard expense tracking apps into a smart financial advisor that learns from your spending patterns. It uses machine learning and AI algorithms to categorize transactions automatically, identify expenses over a period of time and detect bad or unusual spending behaviors in real-time. Potion doesn't just simply tell you where your money went - it provides you with insights about potential future expenses and alerts you if you're about to overrun your selected budget. The smart spending feature includes spending limits that can be customized, adapt based on your income or outcome, seasonal expectations as well as financial goals. For example, if you typically spend more on shopping or restaurants during the weekends, Potion learns this and changes your spending recommendations while still letting you know that you should spend wisely. It also gives you information that shows how your spending compares to people at similar ages or income levels, letting you know if your purchases are reasonable or not.
Behavioral Finance
Potion understands the psychological struggles of managing money, and it works to identify and address bad spending patterns and habits. It analyzes what you spend money on, as well as when, where, how and why you make purchases. It detects emotional spending patterns, impulse purchases and even subscription services you forgot about. The habit improvement system uses gentle nudges and interventions. When you're about to make a purchase that clashes with your financial goals, Potion might suggest waiting 24 hours to be able to think that purchase through, or remind you of a savings goal you're working toward. The app guides the user to better financial habits with an achievement system, tracking streaks for sticking to your budget as well as social challenges with friends.
Ecosystem
Potion is a financial center of sorts that removes the need for multiple apps and services. The currency conversion feature gives the user real-time exchange rates with minimal fees, making it perfect for travelers, international workers or anyone having to deal with multiple currencies. The P2P payment system allows transfers to friends and family immediately, as well as other useful features like bill splitting and scheduling recurring payments. The investment platform Potion offers makes building your wealth easy through micro-investing, where spare change from purchases can be invested in portfolios. Users can customize their own investment strategy for specific goals like vacation funds, down payments or retirement. The app provides learning material about different investment options, risk tolerance and portfolio recommendations based on age, income, and financial goals.
