Budgeting for modern fintech
Find
A nugget of insights is found through research
Find
A nugget of insights is found through research
Behavioural principles
Topic research
Mental accounting
Mental accounting is a tendency to place different values to the same amount of money
Topic research
Mental accounting
Mental accounting is a tendency to place different values to the same amount of money
Topic research
Pain of paying
Pain of paying is a behavioural economics phenomenon of payment aversion. The further a person is from cash the less the pain of paying is
Topic research
Pain of paying
Pain of paying is a behavioural economics phenomenon of payment aversion. The further a person is from cash the less the pain of paying is
Topic research
Money is abstract
£1’000 on your retirement account or a bicycle now? We’re not sure what we’re gaining or giving up.
Topic research
Money is abstract
£1’000 on your retirement account or a bicycle now? We’re not sure what we’re gaining or giving up.
Topic research
Opportunity cost
When I buy this item, what do I give up on instead?
Topic research
Opportunity cost
When I buy this item, what do I give up on instead?
Key numbers
Key numbers
Open data
90%
On average Americans spend 90% of the pay check
Focus on small, achievable savings goals
Open data
90%
On average Americans spend 90% of the pay check
Focus on small, achievable savings goals
Open data
45%
45% of consumers are performing finance-related tasks on a mobile app at least once per day
App needs to be optimized for frequent, quick interactions
Open data
45%
45% of consumers are performing finance-related tasks on a mobile app at least once per day
App needs to be optimized for frequent, quick interactions
Open data
39%
Only 39% of Americans have enough savings to cover a $1,000 emergency
Prioritize emergency fund tracking and goal-setting features prominently in the app UX
Open data
39%
Only 39% of Americans have enough savings to cover a $1,000 emergency
Prioritize emergency fund tracking and goal-setting features prominently in the app UX
Open data
75%
Three-quarters of consumers said they traded down in the first quarter of the year
Build features that help users identify cost-saving opportunities and alternatives
Open data
75%
Three-quarters of consumers said they traded down in the first quarter of the year
Build features that help users identify cost-saving opportunities and alternatives
Customer Journey Map
Customer Journey Map
Design principles
Control • Save • Feel good • Guide
After frequency vocabulary of the research and highlights, we've established these design principles to guide our design decisions
Design principles
Control • Save • Feel good • Guide
After frequency vocabulary of the research and highlights, we've established these design principles to guide our design decisions
Shape
Future product is shaped in close collaboration with a client
Shape
Future product is shaped in close collaboration with a client
Lo-Fi
Lo-Fi
Wireframes
Initial drafts of the solution
Wireframes
Initial drafts of the solution
Long-term goal
In 2 years time Revolut budgeting tool onboards
customers smoothly, consolidates all their expenses and
guides through steps of achieving healthier spending
habits.`
In 2 years time Revolut budgeting tool onboards
customers smoothly, consolidates all their expenses and guides through steps of achieving healthier spending habits.
Cut
Facets polished to shine bright. The product is ready to go live
Cut
Facets polished to shine bright. The product is ready to go live
Activity
Daily chart to remain in the overview. Analytics focus should be on a more readable mental accounting pie chart. Analytics flow is presented as a feed of actions related to budgeting.
Activity
Daily chart to remain in the overview. Analytics focus should be on a more readable mental accounting pie chart. Analytics flow is presented as a feed of actions related to budgeting.
Auto goal
During user test it occurred that people have hard times setting limits up, at least on the spot. In addition to having a manual feature it’s more humane to analyse one’s finances and suggest a way to it’s optimisation. A comprehensive model behind the hood should end with only one monthly goal.
Auto goal
During user test it occurred that people have hard times setting limits up, at least on the spot. In addition to having a manual feature it’s more humane to analyse one’s finances and suggest a way to it’s optimisation. A comprehensive model behind the hood should end with only one monthly goal.
Saving goal
In order to help users set up goals we inspire them with examples. All in all budgeting really boils down to savings in users’ mind.
Saving goal
In order to help users set up goals we inspire them with examples. All in all budgeting really boils down to savings in users’ mind.
Highlights
In case there’s an unusual, unhealthy for the budget activity we analyse it and present to users as a highlight of the month. Setting a limit per category you can enable a hard limit. In this case the card will bounce if the limit is over until user unlocks it in the app manually.
Highlights
In case there’s an unusual, unhealthy for the budget activity we analyse it and present to users as a highlight of the month. Setting a limit per category you can enable a hard limit. In this case the card will bounce if the limit is over until user unlocks it in the app manually.
Retrospective
It’s important to think about your shopping actions in retrospect to learn from your mistakes. In case there was a big purchase during last month we suggest to evaluate it.
Retrospective
It’s important to think about your shopping actions in retrospect to learn from your mistakes. In case there was a big purchase during last month we suggest to evaluate it.
Consolidate
It’s crucially important to see a big picture of your finances. Many banks already provide APIs for 3rd party services. We can integrate other banks info as well and offer better loans in the future.
Consolidate
It’s crucially important to see a big picture of your finances. Many banks already provide APIs for 3rd party services. We can integrate other banks info as well and offer better loans in the future.
Sharing
Donating charity could make you feel good about your money no matter what amount you make. We could integrate this new feature in the context of budgeting since it’s directly related as a category and a good, healthy habit.
Sharing
Donating charity could make you feel good about your money no matter what amount you make. We could integrate this new feature in the context of budgeting since it’s directly related as a category and a good, healthy habit.
Detailed stats
Comprehensive analytics charts could help users to understand their finances better. We could benchmark expenses against median spending in the same income zone. And provide daily analytics of total assets to show a big picture and motivate users to consolidate banks.
Detailed stats
Comprehensive analytics charts could help users to understand their finances better. We could benchmark expenses against median spending in the same income zone. And provide daily analytics of total assets to show a big picture and motivate users to consolidate banks.
Key milestones
Role
User testing
Facilitaton
Strategy
Vision
Value based roadmap
Prototype
Design principles
Design
Full cycle
Final user test
Facilitation
Results presented here may differ from an official stance of the client.
Results presented here may differ from an official stance of the client.
Another project
Another project
NPS +40
#savinglives
#behaviourchange
NPS +40
#savinglives
#behaviourchange
Better Things
We read between the wants
Better Things
We read between the wants