Do you ever wish you had a friend to help you really get the most out of your money? Harsh Chhatrapati, Founder and CEO of Galgal teamed up with Vacuumlabs to create just that.
We sat down with Harsh as he went over his background and how he met Vacuumlabs. The inspiration for Galgal came when he saw that young people, namely in the millennial generation, had trouble really managing and saving. There was a big gap between what they hoped for and what they could achieve with the current banking system.
Galgal set out to offer a unique banking app that will make saving, budgeting, and daily money management as easy as squeezing a lemon. Of course, there were some challenges along the way and the product development took thorough research in conjunction with the support of numerous experts in data science, product design, business, and engineering.
With this goal at the forefront, Harsh connected with Vacuumlabs and the hard work of product research began. We really wanted to come up with the best features and make sure we really understood the market – the real core of the problem that the app was trying to solve.
Most importantly, we think this insight from Harsh sums up the most important part of building a new digital product:
“You know the big challenge for us was how do we create the whole heart and soul of Galgal. It was providing hyper personalized financial recommendations for the user using the app. And this was just a thought and something, we kept talking over calls. That – Hey, Galgal needs to tell you that, you know, you are on track to spend this, this is what you’ve saved this month. And really be there for you. But to convert that into a product was the challenge we faced in the first two months. And I think we successfully overcame it with the help of your data science team, and we had to really map out what nudges are crucial for this, and what technology we should use.”
If you want to hear more about Galgal and the team that built it, our latest episode of Banking on Air is waiting for you