Formue
My Role
Translated research insights, wire-framed and prototyped concepts, and developed a brand system.
Timeline
8 weeks
Background
Many members of Gen-Z are now joining the workforce and having income to spend, but personal finances are stressful. The market for financial apps is saturated but still these product experiences are pretty overwhelming. Also if we look at the larger landscape, on Instagram and TikTok we see a rise in popularity of financial literacy content.
Approach
Planning
Research Proposal
Secondary Research
Conduct Research
Primary Research
Analysis & Synthesis
Conceptual Design
Concept Suite
User-Testing
Refinement
High-Fidelity Prototype
Existing Solutions
Many existing solutions use language filled with finance jargon and may actually exacerbate financial anxiety. None of these solutions provide avenues for users to outline their long-term goals and view progress.
Gen Z in-depth interviews
Interviewed a diverse group of 12 current college students and recent graduates. We did in-depth interviews to learn more about how their backgrounds and values shaped their approach to finances. Along with directed storytelling about a day in their life and where finances were relevant. We also asked them to write love/hate letters to their most used financial apps and resources.
Insights
New graduates with multiple personal finance responsibilities need a sensemaking tool to gauge if they are on track to achieve their long-term goals.
Ideation
Experimented with various aspects of the prototype (such as the physical form, visuals, and digital experience). Did an iterative testing process with 4 new graduates to determine what aspects worked and what didn’t.
Introducing, Formue.
Formue has the goal of being different from existing fin-tech services. This means an emphasis on fun, approachable language, helping users outline their long-term financial goals, and providing them with a way of gauging if they’re on track to meet them.
Formue is an audio app with "Fortunes" that helps new graduates achieve their long-term financial goals with visual projections and goal setting tools.
Mind Map
A big challenge was not copying existing apps like Mint that contain all of the nitty gritty number details.
Instead Formue serves as the middleman of conveying the emotive quality of working towards long-term financial goals and helping you define what you value. They can feel more reassured, motivated, confident when opening their other banking apps.
Audio Fortunes
Users will arrive at the homepage with a view of their long-term goals phrased in the form of affirmations or “fortunes”.
Goal Input
During the onboarding process, users can determine their long-term goals and beginning planning for their future.
Goal Tracking
Depending on the goal a user selects, they have the option of viewing a granular breakdown of their finances and progress.
Profile
Users can visit the profile page to view a concise summary of their initial inputs and goals. These inputs and goals can be edited.
Visual Projections
Based on spending/saving habits, simple visuals are generated to help you gauge how far along you are to achieving your long-term financial goals.
Visual System
Inspired by zines and paperback books, the visual system that uses off white, warm bright colors that feel welcoming and calming. I used Reckless for the body typeface, a serif resembling traditional books.
I sticked with thin geometric outlined icons which in this case the structure conveys legitimacy which is important an app handling personal banking information.
Next Steps
Usability Testing
A/B testing on app’s written + data visualization content Adjust features to accommodate users with more complex finances
Observing long-term behavior
Tracking long-term engagement / frequency of use Documenting Formue’s influence on spending and saving habits
Further exploration with physical artifact
Explore ways a physical device could extend the digital app experience