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Building a better approach to mobile banking apps for young professionals
For this project, we were given an option to choose from a predefined design problem or create our own. I decided to go with the latter and created an app that will help students and recent graduates keep better track of their credit scores. I wanted to learn about what their current and/or future goals regarding their credit scores are to gauge what is important to them. Additionally, I wanted to gather more findings from existing mobile banking apps that highlight opportunities or issues that will help shape the development of my product.
Research
Interaction
Design has the power to bridge gaps in economic mobility, empowering a new generation of economically and financially-informed young people. Every year a generation of new graduates tackle stepping into their adulthood and learning how to navigate building finance credibility for the first time and banks are tasked to create an easy and simple experience for fresh-out-of-college users.
The main purpose of this research was to understand the experience students and recent graduates have with current mobile banking apps. This helps determine what new features could be implemented into a better experience with how they check their credit score in mobile banking apps. Below are frameworks of the research synthesis and user story map that I have summarized from the findings I have made through participants that I have gathered.
The initial concept of this app was to highlight credit score. Throughout the process of sketching to mockups, I have stayed consistent with the credit score layout because the users that I have interviewed all have noted that they enjoy the front-and-center visual of the score bar and number.
Taking the research gathered from the lo-fi mocks, I created mid-fidelity wireframes to get a better idea of the app layout. I took a look at current mobile banking apps that I personally use, as well as what my colleagues use, as a baseline of what works and what doesn't work on banking apps.
Getting into the visual design of the app, I wanted to create a youthful and vibrant environment since this app is targeted towards students and recent graduates. Blue is utilized very often in banking, so I put a fresh twist to the blues typically used to create a brighter feeling within the app. The font I used was DM Sans for its versatility and readability.
The prototype walks through the steps to view the individual’s score changes over time, as well as a more detailed view of what affects their score.
Key Finding: “All users like receiving suggestions on how to improve their score.”
I conducted an unmoderated research session with 23 participants using the prototype I created above. I sent out a survey with vague instructions to determine if they were able to figure out how to navigate the app. Below are the results of the research.Throughout the testing phase, I have repeatedly noted that all participants enjoy knowing what affects their score, validating the statement of my key finding above.
With the data I have gathered, I made iterations to improve accessibility and key performance indicators (KPI).
KPI iteration based on data to optimize for conversion. The hypothesis gathered from the research was that 52.2% of users did not click on dropdown to view score change overtime, so I needed to make the CTA clearer. Improving the call-to-action will increase conversion rate.
The participants that I have interviewed were all students or recent college graduates and have consistently enjoyed the educational aspects of the design. Being a student/recent graduate not too long ago myself, I wish I had better tools to equip me for real-life experiences. This project has helped me realize the importance of education on finances, especially when you're transitioning out of school and into the "real world."
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