Shaping Fintech at Verizon
How I championed the Nico Money mobile app from vision to validation
Overcoming go-to-market barriers and skepticism
In 2016, Verizon’s Global Network & Technology group connected the initial threads of what would become the Family Money application for Android and iOS.
Third-party and internal research highlighted a burgeoning fintech market that Verizon, banking on its scale and trusted reputation for security and reliability, could capitalize on by delivering a digital-first solution tailored to customer needs.
% of respondents with financial goals aligned with Verizon ideation products — N=1,790
By 2018, my team launched the app as a functioning beta, then called “Nico Money.”
The build featured seamless integrations with Mastercard issuer Bancorp Bank and solutions providers Galileo and Plaid. We developed an engaging communication layer between parents and kids, designed to teach budgeting and saving while tracking chores and allowances earned for completing them.
But turning a nascent fintech app into a telecommunications giant’s first commercially-viable product required far more than development. It required belief and strategy, not to mention relentless delivery and advocacy.
My role
As a product manager leading a small yet versatile team, I wore many hats to ensure the success of Family Money’s beta program.
- Product management: Guided requirements for front-end code based on UX designs from my team. Produced detailed user flow diagrams, technical documentation, and user guides to ensure clarity and alignment across teams and software vendors.
- UX and communications: Created an internal product website, multi-format promo videos, FAQs, financial literacy blogs, release notes, newsletters and marketing collateral.
- GTM strategy: Spearheaded app trials to validate integrations and core features. Delivered App Store and Play Store assets, ASO/SEO optimization and multi-channel user engagement initiatives.
- Business intelligence: Analyzed developer console data and app analytics events to measure performance and identify actionable insights. Reported findings to leadership and stakeholders, validating progress and shaping decisions.
- Stakeholder management: Evangelized the product across the Consumer Group, newly-acquired AOL, and many a tech group peers.
From initial buzz to commercial launch
To generate momentum, I co-led initiatives that turned Family Money into a household name within Verizon.
The trial didn’t just test features — it proved the app’s market readiness, highlighting its integrations and validating key use cases.
- Employee beta program: Managed recruitment, program communications, surveys, KPI analysis, and even card design testing and mailing.
- Live support: Integrated the app with Service Desk and ensured smooth app usage for hundreds of internal parent-and-child testers.
- Product showcases: Organized live demos at headquarters and created internal communications to build companywide buzz.
The results
The beta program exceeded expectations, delivering KPIs that solidified Family Money’s potential.
$18,000 in transfers from ~80 parents ($225 per-user average) with a monthly ARPU of $19 (pre-interchange)
70% of funds allocated for allowances, validating a core use case
10 tasks created per parent, on average
99.9997% app stability throughout the beta
Encouraged by the data and the success of competitors like Greenlight and GoHenry, the Consumer Group ultimately launched Family Money in June 2021.
By then, I was a senior product manager supporting Verizon Cloud.
Lessons learned
My work on Family Money taught me that building a great product in any company is only part of the equation.
You also need to champion it.
Even when leadership and gatekeepers are hesitant, it’s essential to believe in the value you’re creating and evangelize its potential.
Family Money’s launch was a testament to persistence, collaborative teamwork and the power of converting a concept into an indispensable digital tool for families.
Technologies
• App Store Connect + Google Play Console • TestFlight • Crashlytics/Fabric • Localytics • Drupal • RESTful APIs • OAuth • Zeplin • Sketch • Adobe • Mailchimp