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Learning Financial Behaviors Through Prototyping
My Role
Sole Product Designer (2019)
Partnered with a researcher and worked with a team of stakeholders
Skills Used
Prototyping, Interaction Design, Visual Design, Mobile Design, Information Architecture, Contextual Interviews, Report Design
Brief
I partnered with a researcher and project manager to test a new product concept for a credit union. As a team of two, we met regularly with our stakeholders. I designed and built a prototype and worked with my partner to conduct interviews and document our findings.
Goals for the Product Concept
- Attract and retain dollars from members by encouraging them to save.
- Teach financially healthy behaviors to increase loyalty in the future.
- Attract new members with an enticing experience.
What We Wanted to Learn
We'll use a prototype to answer questions that would provide direction for the product.
- How do people feel about saving money?
- How important is a compelling experience vs a competitive interest rate?
- Do people want help figuring out how much to save for a particular kind of goal?
- Would gamification elements help encourage the desired behavior?
The Prototype
I designed an app that was realistic but simple and unbranded, with just enough screens to conduct user testing and interview sessions. During the design process, I came up with additional questions we could answer, such as whether people show interest in competing with or encouraging their friends to hit a savings goal.
One of the two flows we tested
What We Learned
We conducted interviews with a dozen participants. The first half of each interview focused on general behaviors around saving money, and the second half on their reaction to the prototype. I created a visualization to help tell the story of one of the key findings: The less financially sophisticated the person was, the more satisfied they were with the interest rates. A lack of financial sophistication also correlated with how much a product like this would benefit them.
How our participants reacted
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