TEO lifestyle banking for Sparda banks

Designing and implementing a new kind of multi-banking platform with a digital ecosystem

Teo Teaser

We developed TEO (an entirely new way to do banking) in cooperation with our customer Sparda. We supported the project from the concept and design phases right through to its technical implementation, creating a strong response to the rapidly growing neobanks in the German market.

Finnoconsult support

Finnoconsult successfully supported the project in the following areas:

  • Design of user experience
  • Agile development – Co-Product Owner and SCRUM Master
  • Prototyping
  • Test case management
  • Customer Insights
  • Growth Marketing


  • Aggressive user growth faced with competition from traditional banks.
  • Development of a flagship product to win new customers for Sparda banks.
  • Falling income and rising costs that could result in the need for new sources of income (“beyond banking”).
  • PSDR – Changed industry requirements need an alternative approach.

Starting point

The Finnoscore provided Sparda with a very clear picture of which areas they needed to improve on. Their competitors were favourites with new customers, such as N26 or Revolut. This allowed clear priorities and approaches to be determined for the innovative TEO product. In actual fact, in 2018, the company was far behind e.g. N26,  in the following categories:

  • Attractiveness for potential customers
  • Online onboarding
  • Social media
  • Mobile apps


  • A fully integrated digital platform 
  • An additional source of income based on a rich ecosystem
  • Co-creation – Money and time savings through early and continuous customer participation
  • Option to monetise the application
  • Scalable business model through licencing of TEO to non-competitive banks throughout Europe.


Compared to 2018, there were vast improvements in the following areas:

  • Online marketing
  • Online sales
  • Online onboarding
  • Customer loyalty programmes
  • Mobile apps


  • Support with setting up the innovation unit for Sparda banks (Comeco)
  • Set-up of an agile development process within the group
  • Exploration phase to determine the needs of the target segments 
  • Constant user feedback loops for adapting the user experience
  • The first step focussed on an app solution, which was followed by its development with dedicated UI & UX also for web.

An insight into the product

Teo Web & Mobile application

Disclaimer: The TEO project was successfully implemented in cooperation with our long-standing project partners Horváth & Partners, LHBS and BGK.

Teo Mobile application

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