N26 Bank's Case Study: Revolutionizing Global Fintech Practices with Hyperboost Innovation Advisory

Introduction

N26 Bank global recognition among the world's best banks by Forbes underscores the company's user experience excellence and successful journey since founding the neobank category in 2013.

N26's strategic entry into the Brazilian market under the guidance of Hyperboost's founder and principal advisor, Cesar S. Cesar, marked a transformative chapter in fintech innovation worldwide, driven by the implementation of Silicon Valley-caliber product culture, vision and strategies. Faced with intense competition, notably from giants like Nubank, N26 leveraged the Hyperboost Formula to establish a significant presence and pioneer personalized financial care products globally. This case study explores how Hyperboost Innovation Advisory facilitated N26’s remarkable short-time growth and the FINCARE's product portfolio development, setting new industry benchmarks in customer-centric fintech solutions.

All the results presented in this case study were achieved in less than 12 months of advisory.

Fundamentals: Establishing a Robust Foundation

The Hyperboost Innovation Advisory journey began with laying a solid groundwork that focused on aligning the Brazilian team’s approach with Silicon Valley's dynamic innovation and customer-centric methodologies. Recognizing the critical importance of cultural adaptation to Silicon Valley's standards, our advisory guided N26 to instill a product culture among its Brazilian team. This involved extensive workshops and training sessions aimed at aligning the team’s approach to agility, innovation, and customer-centricity. The goal was clear: to transcend current digital banking norms and redefine fintech service delivery in Brazil and the world.

Hyperboost’s heuristic discovery of N26’s State of Product revealed areas needing immediate attention, particularly around customer acquisition and unlocking fincare innovations. By addressing these foundational aspects, the Hyperboost advisor prepared N26 to navigate the complexities of Brazil’s diverse market with a strong, adaptive strategy.

Key outcomes from this phase included:

• CEO, C-Levels and senior managers trained in Hyperboost Formula's product culture and innovation mindset.

• Restructured teams into cross-functional extended product teams.

• Hyperboost's strategic framework adopted by leaders and teams.

• Implemented the Pragmatic OKR program.

Strategy: Navigating To Fintech's Customer Experience Leadership

With a solid foundation in place, our advisor shifted its focus to strategic planning, to ensure N26’s product vision was not only future-proof but also deeply integrated with customer needs. The strategic phase involved a meticulous crafting of N26’s product vision and outcome-driving product strategy, prioritizing customer outcomes that were essential for capturing market share from established players.

Hyperboost facilitated brainstorming sessions that led to the creation of the FINCARE product portfolio—a visionary concept aimed at blending financial products with financial wellness advisory and support. This strategy was not merely about offering neobank services but providing a holistic, integrated financial platform that catered to the evolving needs of Brazilian consumers, most of them lacking financial education and best practices.

Notable achievements from this phase included:

• A 90% increase in platform performance achieved through the introduction of the Spaces-Oriented Automated Platform, experience redesign and the launch of the Timeline feature, which provided a social network-like experience for tracking finances, achieved within 6 months of implementation.

Execution: From Vision to Reality

The execution phase of Hyperboost Innovation Advisory marked the transformation of strategic plans into tangible outcomes. Under Hyperboost’s guidance, N26 Brazil implemented a robust Product Operating Model and pragmatic OKRs that aligned every team’s efforts with the company’s new ambitious goals. Hyperboost’s advisor expertise in operational excellence ensured that N26’s strategic objectives translated into efficient, customer-focused actions that drove substantial growth.

The launch of various FINCARE products under Hyperboost Innovation Advisory showcased N26’s commitment to innovation. Features like AI-driven personalized financial insights and the integrated FINCARE product platform were rolled out, significantly enhancing user engagement, satisfaction, deposits and revenue.

Outstanding achievements during this phase included:

• A 30% growth in interchange revenue and Total Payment Volume (TPV) per user following the release of Multiple Virtual Credit Cards and Cards for Spaces, further integrating the FINCARE strategy within 12 months.

• A 16% boost in deposits through the introduction of Presets, which simplified the setup of FINCARE user environments within 3 months.

• A 4% increase in monthly transactions resulting from the launch of the Loops Automation platform within the first 3 months.

Evolution: Sustaining Growth and Preparing for the Future

In the final phase of the Hyperboost Innovation Advisory, the focus shifted towards ensuring N26’s exponential growth and future readiness. This stage was about embedding a culture of continuous innovation within N26 Brazil, and preparing for exponential service scale. Our advisor played a crucial role in enhancing the Product Executive leadership, fostering an environment where strategic foresight, and adaptability were at the forefront.

Hyperboost advisor’s expertise in Generative AI was pivotal in integrating Generative AI agents' technology in all products, enabling ENE, N26's AI virtual finance advisor, to offer personalized financial advice at scale, a first in the entire world.

Key outcomes from this phase included:

• The introduction of Generative AI to deliver personalized financial insighst in all products.

• The introduction of ENE, N26's AI virtual finance advisor, to provide personalized finance advice at scale, pioneering a new worldwide standard in fintech.

Conclusion

Applying the Hyperboost Formula, we helped shape a new tech star in Brazil in less than 12 months. N26’s strategic exit from the country to refocus on European markets was a calculated decision informed by the insights gained during its transformative journey in Brazil. Under Hyperboost Innovation Advisory, N26 not only achieved remarkable growth and set new standards for fintech innovation but also left a lasting impact on the global fintech landscape, becoming the customer experience benchmark for established neobank global players, including Nubank. The legacy of N26 Brazil’s operations, characterized by pioneering personal financial care and technological excellence, continues to influence the market.