Overview

MyUnion is a Icelandic fintech startup designed to help users manage union memberships and benefits seamlessly through a centralized digital platform. The app enables users to track discounts, upload receipts, and access union benefits in real time, offering a modern approach to union management.

Recognized as Iceland’s Best Startup of 2023, MyUnion later partnered with Indobank, one of Iceland’s largest banks, to further expand its platform. We provided consulting services and assisted in developing the MVP concept, ensuring scalability and market readiness.

Challenge

MyUnion required:

• Market research to validate demand and assess user expectations.

• Competitor insights to identify gaps and potential differentiation strategies.

• Monetization models to define scalable revenue streams.

• Conceptual UX/UI design for the MVP, focusing on usability and scalability.

• Roadmap consulting to guide further development and partnerships.

Our Approach

We combined data-driven consulting with conceptual design frameworks to deliver insights and build a foundation for growth:

1. Market Analysis & Competitor Insights

• Conducted a market opportunities assessment to define growth potential and user demographics.

• Delivered competitor benchmarking, highlighting opportunities for differentiation.

2. Monetization Planning

• Proposed scalable revenue models, including subscription tiers, premium features, and transaction fees.

• Evaluated long-term financial sustainability and growth projections.

3. UX/UI Concept Development

• Designed a user-focused MVP concept, emphasizing simplicity and intuitive navigation.

• Delivered wireframes and prototypes to accelerate development and user testing.

4. Go-to-Market & Scalability Strategy

• Developed a launch strategy targeting early adopters and key partnerships.

• Provided growth frameworks for expanding into new markets and attracting institutional partners.

Results

• Created a validated MVP framework, enabling a faster launch and adoption by users.

• Developed market insights and monetization strategies, aligning product features with financial growth.

• Partnered with Indobank, leveraging early success to secure institutional support.

• Positioned MyUnion as a scalable fintech solution, winning the Best Startup in Iceland 2023 award.