After considering the huge competition in the market and the low interest among consumers, which in turn means that users are not very active at planning out their pension funds, LHV decided to create a brand-new pension app called My Pension, which would offer its users a convenient and reliable channel where they could manage their pension funds. Estonia’s first pension app was created by LHV in cooperation with ADM, who were responsible for the strategy and UX/UI behind the app, and Datanor, who were responsible for the technical execution of the app.
The strategy put in place by ADM and LHV along with Datanor’s software solution and ADM’s design, which accounts for user expectations, all came together to create the perfect starting point for the app, which managed to gain over 22 000 users in just two months. On average, the users would spend about 6 minutes on the app, which is enough time to gain an understanding of the main differences between the pension funds and to decide which new pension fund to switch to. Additionally, the app and the following campaign also increased the number of new people to join LHV’s pension funds.
“We started working with Datanor right from the beginning of the project, so while we were still doing preliminary work for it. This cooperation helped us create a truly useful tool for pension fund collection that would also help users, which includes LHV’s own clients, make the best possible decisions regarding their pensions. Thanks to this close-knit cooperation, Datanor and us had a complete overview of all the development stages and of which activities were done and which ones were still being planned. Such tight cooperation is necessary when creating a solution as big as this one,” said Andres Laaspere, Partner and UX Designer at ADM Interactive.
The creation of the pension app was preceded by thorough preliminary work and determining the precise vision for the app. Once that was done, ADM and Datanor conducted interviews with representatives of the app’s target audience and then used the data they had collected to create a concept for the solution along with a detailed description of its functionality and UI design and finally, an overview of the business requirements for the app.
According to Riho Pihelpuu, the CEO of ADM, cooperation with Datanor is far from being just a one-time thing for them. “Our Cloudtech, Integrations, Media and Workflows businesses can work together with Datanor to create a variety of digital solutions, from the development of service design and service environments to complex business information systems. Our ADM Integrations business is actually working with Datanor on that last one right now. Datanor also moved their offices to Kultuurikatel, close to ADM, to further our cooperation and make it more efficient,” said Pihelpuu.
LHV’s My Pension app, which won a main prize at the Digital Marketing Achievement Award 2019 competition, is a one-of-a-kind solution in Estonia and the first pension collection tool that enables users to get information about all active pension funds in Estonia from one place, to compare them against some of the more important parameters, and to then make well-informed independent decisions about their pension funds.
ADM also won the main prize in the online advertising category at the Digital Marketing Achievement Award 2019 competition along with the Grand Prix prize, for which all the winners of the individual categories were nominated.
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