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50+ Marketplace (Update 22-01-2017)

Matching a virtually infinite set of needs by trading via a networked and dedicated set of solutions.

Photo of Diogo

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Who is your idea designed for and how does it support the dreams and obligations of those 50 and older?

This idea is designed for the '50+ youngsters', holding savings or some sort of patrimony over which they can obtain liquidity, in order to fulfill their needs in a dedicated financial market place. This marketplace would offer a wide range of financial products and other services provided by the credit unions and other partners, because no single financial institution is capable of offering such a universal solution.


Statistics aside, the population is getting older and life expectancy is increasing. In this context, one gets to the age of '50' carrying over a legacy (physical, emotional and patrimonial) together with the concern of securing the future. This is also the time when people usually rush for last-minute savings.

As a result, each individual ends up having very specific needs and wishes, thus leading to a virtually infinite set of choices from the demand side.

It then becomes almost impossible for a single financial institution to offer a universal solution.


Offer a financial based marketplace where ‘50+ youngsters’ can trade their financial credits for specific needs, supplied by dedicated service partners.

Ideals aside, this corresponds to a co-op approach, where the market is somehow owned by the ‘50+ youngsters’ eligible for trading, and by the credit unions. Running in such way, would also give them the power to potentially redistribute the gains throughout chosen causes.

Key Stakeholders & Interests

‘50+ youngsters’: Gain access to liquidity with advantageous conditions, at the credit union (e.g. by getting a 2nd mortgage on the house while keeping the right to live in it, via a rental contract). This liquidity is then used to trade in the marketplace for specific needs.

Credit Unions / Other Financial Institutions: Secure income with trading commissions, potential x-selling to other financial products, holding savings accounts, servicing other family members, amongst others.

Service Providers (travel agencies, care providers, financial advisors, insurers): Make business by gaining access to a restricted market of loyal customers, well segmented and financially secured.

How it works

Trade the needs (e.g. ensure a trust for the grandchildren, healthcare, traveling, etc.) in the marketplace (limited to the people over 50 trading within this financial consortium). If they don't use their ‘stocks’ or ‘credits’, they can then re-sell them on the market (trading, in the traditional way). For example: one person acquires the right (credits / stocks) to travel next year. If somehow ends up not using them, this person could trade back these rights.


Set-by-step, i.e. start with simple products (needs) and then expand over time to higher risk products (such as cancer treatment). It can potentially evolve and become complemented by an insurance marketplace, mathematically designed by actuaries and financial experts.

What early, lightweight experiment might you try out in your own community to find out if the idea will meet your expectations?

This would need a direct access to a sample of potential 'customers' by partnering with one or several credit unions, to properly gage their needs and openness to this concept and approach.

What skills, input or guidance from the OpenIDEO community would be most helpful in building out or refining your idea?

Design Thinking approach, including brainstorming and prototyping.

Tell us about your work experience:

In a certain way, I consider myself as being an Organizational Intrapreneur. And I really look forward to successfully combine design thinking with business strategy.

This idea emerged from

  • An Individual

How would you describe this idea while in an elevator with someone?

A great way for the Credit Unions to offer their services to 50+ customers. Finances itself, promotes senior inclusion and trading efficiency. Aligned with the moral principles of a Credit Union. Combines financial services with senior care and social networking. #Fintech

How might your idea be transferable to a large number of people?

1. Start with a pilot: pool of Credit Unions, target 50+ customers and providers. 2. Validate and make all necessary adjustments. 3. Promote online, with the providers, at credit union branches, amongst others. 4. Make the marketplace platform an active tool within the credit union system, preferently by fully integrating it. 4. Grow to integrate as a social network platform (with Facebook, others, or itself). Spread the word and earn rewards based on customer loyalty and recommendation.

How do you plan to measure the impact of your idea?

1. # of active users 2. # trades 3. Total assets value

What are your immediate next steps after the challenge?

Get feedback, feedback and feedback
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Attachments (2)

Experience Map_01.pdf

Experience Journey (using the suggested tool for experience map, with dedicated cards for each step). Very nice and helpful tool!


And here it goes a Prototype, applicable for 2 main steps and to provide a grasp of the concept. Once again, thanks to the good card tools! It is a simple approach but (I expect) intuitive to follow.


Join the conversation:

Photo of Diogo

Hi there (and Uff, especially to the good supporting Team )!
It has been a very busy time (amongst some other flu episodes). But, in the end, I was able to make a "rush contribution". Only possible by following your guidance, examples and tools.
I think that the uploaded info (experience maps and first set of prototype) is easily understandable.
(Very) Unfortunately, this timing does not allow for an active and constructive feedback, and contribution from the community (which ends up being the best part of it). Nevertheless, I wanted to complete this phase. And it was very fun doing it!
Future work (if one gets to it) includes:
1. Validate with a pool of "real potential" customers. Unfortunately, we don't have an equivalent bank that matches the overall mission of the Credit Union (at least with the same level of territorial dimension) and where I can partner to do some tests.
2. X-check with other design thinking tools / experts at IDEO community.

Hope to have given back the same gratitude and enthusiasm that I got from everybody throughout this great period of time.

Photo of Kate Rushton

Thank you Diogo and I hope you are feeling better now. There are some nasty flu illnesses going around.

Photo of Diogo


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