PFM - Mobile App
Role: Lead UX Designer
Team-Based Project
"Día de Pago" is a mobile application designed to revolutionize personal finances. With its comprehensive suite of features, it empowers users to take charge of their financial journey. This app offers indispensable tools such as expenditure management, expert savings guidance, timely payment reminders, and effortless account tracking.
Personas
Felipe, a 45-year-old married man, embodies a dynamic and active lifestyle. He not only excels in his role as a Senior Project Manager but also demonstrates exceptional organization skills and effective time management. His dedication to his career has positioned him as a high-ranking figure within his country.
Felipe's enthusiasm for finance applications mirrors his commitment to maintaining robust financial habits. His keen interest in personal finance is reflected in his meticulous management of both personal and family savings. As someone who values physical fitness and professional success, Felipe's well-rounded approach to life underscores his pursuit of financial stability and well-being.
Carolina faces persistent financial challenges on a monthly basis. Despite her substantial income, her struggles arise from existing debts and previous poor financial choices, which are now posing difficulties. As a single mother at the age of 35, she is particularly motivated to rectify her financial situation.
Carolina's financial struggles stem from a lack of established budgets, disorganized expenses, and the absence of saving habits. These financial practices have contributed to her current predicament, prompting her determination to overcome these obstacles and pave the way for a more stable financial future.
Problem Statement
Felipe is committed to enhancing his financial situation with the goal of optimizing his earnings and making strategic investments for the future.
Carolina is determined to improve her financial circumstances as she aims to settle her debts and secure a promising future for her son.
Qualitative Data
We had the privilege of conducting interviews with six experienced finance coaches, seeking insights into the tools we could provide to our users for enhancing and rectifying their financial situations. Additionally, our discussions aimed to uncover the concept of healthy financial practices. The primary outcomes and noteworthy features derived from these discussions include:
Regular Financial Tracking: The importance of consistently monitoring finances, suggesting a routine of at least weekly reviews.
Personalized Financial Plans: Designing individualized financial plans for each user, recognizing that different circumstances call for distinct strategies.
Debt Management Strategies: Learning to leverage debt effectively as part of a comprehensive financial strategy.
Business Ventures: Exploring opportunities for entrepreneurship and business ventures to diversify income streams.
Effective Budgeting: Implementing and maintaining a robust budgeting approach to gain better control over spending and saving.
Quantitative data
We conducted an extensive survey involving 210 participants, with a substantial 64% being women with low to medium incomes. While these respondents demonstrated an inclination towards saving money, they also recognized the need for financial improvement. It was observed that a portion of this group struggled with budget management, resorting to assessing their finances only twice a month, coinciding with their paydays. Furthermore, their financial review was limited to checking if their payment had been received.
The median age of the participants was 35 years old, and their preferred methods for monitoring finances varied from utilizing bank websites to maintaining digital notes or even referencing old textbooks. Remarkably, 73% of the surveyed population expressed dissatisfaction with their current salary, indicating that they considered it insufficient to meet their needs.
Also,
We conducted a total of twelve interviews with users who closely matched the profiles of our personas. Through these interviews, we gained valuable insights into their financial management strategies, the challenges they faced, their habits, and the significant constraints they encountered in terms of financial behaviours. This wealth of information enabled us to design a solution that is flexible enough to cater to each unique circumstance.
A key discovery from these interviews highlighted a prevalent lack of financial education, leading to substantial difficulties. It became evident that imparting financial knowledge early in life is crucial. Therefore, in order to truly empower users and optimize their financial well-being through our solution, we recognized the imperative need to incorporate an educational component.
User Journey
Mapping the user journey throughout a typical day provided us with valuable insights into when and how to engage with our end-users, as well as the preferred devices for interaction. This process has offered us a strategic approach to comprehending customer expectations more effectively and enhancing the overall customer experience.
The primary advantage lies in gaining a deeper understanding of our customers. The more we grasp their expectations, the better we can customize the customer experience to align with their specific requirements.
Affinity Diagram & Information Architecture
Following a thorough analysis of competitors and an in-depth audit, we systematically generated, organized, and consolidated information pertaining to the product, processes, and essential features that the application should encompass. This comprehensive approach aims to deliver genuine value and formulate a monetization strategy for the developer's plan.
