I think it will be fairly typical for customers who set up Raiz...

I think it will be fairly typical for customers who set up Raiz Jars to create new recurring deposits that are in addition to their existing monthly contributions.

In my mind, Raiz has 3 specific aims in order to build it's business:
1. Increase it's number of active customers and the average length of relationship with these customers
2. Build it's FUM by increasing it's share of the 'investing/savings wallet' of these active customers by reducing the friction to save and by encouraging users to invest 'more than their spare change'
3. Developing additional revenue streams through creating and marketing associated services that are of benefit to their users.

Raiz Jars addresses these 3 aims, to varying degrees, by:
1. Improving the value proposition provided by the Raiz platform. Jars provides customers with a simple and highly effective budgeting and savings tool.
2. Attracting an increasing proportion of customers investable funds that may previously have been directed to alternative products in the marketplace like high interest savings accounts or term deposits offered by banks.
3. Providing Raiz with valuable insights about customers specific savings goals so that they can develop and market targeted products to their users.

Given the relatively poor public perception of Australia's large banks, Raiz has a great opportunity to leverage its good customer relationships and strong reputation in the market, to win business away from older and less nimble financial institutions. I am sure there are many financial firms who will be envious of the trust that Raiz has built with it's user base, and will be keenly watching their growth and development as larger and more serious contender in the marketplace.