Consulting project : financial check-up platforms as a solution for financial literacy in Portugal

• Main Author: Störk, Maurice Benedikt
• Publication Date: 2023
• Format: Master thesis
• Language: eng
• Source: Repositórios Científicos de Acesso Aberto de Portugal (RCAAP)
• Download full: http://hdl.handle.net/10400.14/41685
• topic: Financial literacy; Financial management tools; Financial freedom; Saving; Literacia financeira; Ferramentas de gestão financeira; Liberdade financeira; Poupança

Portugal has been identified as the lowest-performing country in terms of financial literacy according to the ECB's ranking. The purpose of this research is to help the Portuguese FinTech Doutor Finanças to improve financial literacy in Portugal by providing a free-access financial management tool for all individuals. Through secondary research, benchmark analysis of best practice financial management tools on the market, and a survey exploring customer wants and motivations behind the usage of such tools, the study identified three key areas of importance for individuals: having an overview of personal finances, utilizing a saving and budget optimization tool, and a tool simplifying investing and trading. The study also emphasized the importance of creating high levels of customer centricity, tailoring the tools to individual needs and life cycles. Furthermore, updating the company's website with a more intuitive and modern design for an effective user experience will give Doutor Finanças a boost as well. The developed tools aim to empower individuals to take control of their finances and improve their financial literacy.