Conduct user research (interviews, surveys, ethnographic studies), stakeholder interviews, market analysis, and competitive analysis.
Personas, user journey maps, problem statements, and research insights.
This step is crucial for setting a strong foundation. Ensure you gather diverse perspectives and validate assumptions with real user data.
Understand the problem space, user needs, and business goals.
Problem Statements
Financial Literacy and Education:
A significant portion of the population lacks the necessary financial knowledge to make informed decisions about saving, investing, and budgeting. This gap in financial literacy leads to poor financial habits, suboptimal investment choices, and a lack of preparedness for financial emergencies.
Personalized Financial Guidance:
Existing financial management tools often provide generic advice that fails to consider an individual's unique financial situation, goals, and preferences. Without personalized guidance, individuals find it difficult to develop and stick to effective financial plans that align with their long-term objectives.
Savings and Investment Optimization:
Many individuals miss out on opportunities to maximize their savings and investments due to a lack of tailored strategies and real-time insights. This results in lower returns, missed financial goals, and a sense of financial insecurity.
Social and Community Engagement:
Financial challenges can lead to social isolation and stress, impacting an individual's overall well-being and community involvement. There is a need for solutions that not only improve financial health but also foster a sense of community and social support.
Integration of Financial Tools:
Managing multiple financial accounts, such as savings, investments, and loans, across various platforms is cumbersome and time-consuming. A cohesive solution that integrates these tools and provides a holistic view of one's financial health is essential for effective financial management.
Emily Johnson - Persona
Age
34
Job Title
Marketing Specialist
Annual Income
$65,000
Financial Goals:
- Save for a down payment on a house - Build an emergency fund - Invest in a diversified portfolio
Needs:
- Customized budgeting plans - Personalized investment advice - Tools to track progress towards financial goals
Current Products and Tools:
- Mint for budgeting - Robinhood for investments - Google Sheets for tracking expenses
Motivations: - Achieve financial independence - Secure a stable future - Make informed investment decisions
Challenges:
- Lack of personalized financial guidance - Difficulty sticking to a budget - Limited knowledge of investment options
Current Bank:
- Chase Bank - Credit Union for savings - Vanguard for retirement accounts
Michael Chen - Persona
Age
35
Job Title
Software Engineer
Annual Income
$120,000
Financial Goals:
- Maximize 401(k) contributions - Save for children's education - Invest in real estate
- Online community platform - Webinars and live Q&A sessions - Discussion forums and support groups
System Onboarding - UX Flow
The personal finance coach provides personalized, efficient, and supportive financial management, enabling them to achieve their financial goals with ease and confidence.
A guided experience from account setup through to continued use, integrating automated and manual tracking of expenses, personalized financial planning, and AI-driven insights.
This structure ensures that users receive tailored advice, real-time updates, and continuous support, making complex financial management accessible and effective. Additionally, the community interaction feature fosters a sense of belonging and shared learning, enhancing the overall user experience.
Objective
Activities:
Output:
Feedback
Validate design concepts and assumptions with real users.
Usability testing (moderated or unmoderated), A/B testing, user feedback sessions, and heuristic evaluations.
Usability test reports, user feedback summaries, and performance metrics.
Focus on identifying pain points, usability issues, and areas for improvement. Use both qualitative and quantitative methods for a holistic view.
Feature Voting Results Bar Graph
AI-driven Financial Planning
46
Real-time Expense Tracking
44
Financial Health Dashboard
41
Predictive Analytics for Financial Issues
39
Savings Management
30
Personalized Budgeting
24
Investment Recommendations
21
Debt Management
15
Automated Reporting
10
Financial Education Modules
5
Feature Voting Results
Feature
Emily Johnson
David Lee
Michael Chen
Sarah Martinez
Lisa Robinson
Total Votes
AI-driven Financial Planning
10
9
8
10
9
46
Real-time Expense Tracking
9
10
9
8
8
44
Financial Health Dashboard
8
7
10
9
7
41
Predictive Analytics for Financial Issues
7
8
7
7
10
39
Savings Management
6
6
6
6
6
30
Personalized Budgeting
5
5
4
5
5
24
Investment Recommendations
4
4
5
4
4
21
Debt Management
3
3
3
3
3
15
Automated Reporting
2
2
2
2
2
10
Financial Education Modules
1
1
1
1
1
5
Finance App Prototype
Account Summary Dashboard
Welcome to your financial dashboard!
Account Balances
Good
Checking: $1,234.56
Savings: $8,765.43
Financial Health Scores
Excellent
Score: 87%
Recent Transactions
Updated
Transaction 1: $123.45 - Grocery Store
Transaction 2: $67.89 - Gas Station
Transaction 3: $45.67 - Restaurant
Budget Summaries
On Track
Total Budget: $2,000
Spent: $1,200
Budgeting
Create Budget
New
Income: $3,000
Expenses: $2,500
Automatic Expense Tracking
Active
Tracked expenses: $2,300
Real-Time Budget Updates
Live
Updated: Just Now
Goals
Set Financial Goals
Progress
Goal: Save $5,000 for vacation
Progress: $2,000 saved
Goal: Save $10,000 for emergency fund
Progress: $4,000 saved
Goal: Save $20,000 for down payment
Progress: $12,000 saved
Personalized Savings Plans
Custom
Monthly Saving: $500
Insights
Tip 1
Save 20% of your income.
Tip 2
Invest in low-cost index funds.
Tip 3
Track your expenses daily.
Tip 4
Build an emergency fund.
Tip 5
Review your budget monthly.
Tip 6
Automate your savings.
Spending Pattern Breakdown
Insightful
Category: Food
Spent: $600
Investment Performance Insights
Growth
Portfolio Growth: 5%
Menu
Profile Settings
Settings
Update your profile information here.
Account Management
Manage
Manage your account settings here.
Notification Preferences
Notify
Set your notification preferences here.
Privacy Settings
Privacy
Manage your privacy settings here.
Help and Support
Support
Get help and support here.
Objective
Activities:
Output:
Feedback
Improve the design based on user feedback and testing results.
Iterating on designs, improving wireframes and prototypes, and enhancing interaction and visual design.
Updated wireframes, high-fidelity prototypes, and design specifications.
Prioritize changes based on impact and feasibility. Ensure the refined designs address the issues identified in the testing phase.
Components and Brand
Creating a unified and differentiated financial management platform requires rethinking how finance is portrayed.
Continuously gather feedback from users and stakeholders.
Monitoring user behavior, collecting feedback through surveys and analytics, and conducting regular user interviews.
Ongoing user feedback, analytics reports, and insights for further improvement.
Establish channels for continuous feedback, such as in-app feedback tools or regular user forums. Listen actively to both positive and negative feedback.
Onboarding
Aureum's onboarding process is seamless, personalized, and designed to set you on a path to financial success.
Account Summary Dashboard
The dashboard provides a comprehensive, intuitive overview of your financial health and progress.
Budgeting
The budgeting features are designed to give a User full control over their finances with minimal effort.
Goals
The financial goal features help you set, track, and achieve your financial aspirations with personalized plans and progress updates.
Insights
Aureum's insights deliver personalized financial advice and actionable tips to optimize your financial health.