Budgeting for modern fintech
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
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
Opportunity cost
When I buy this item, what do I give up on instead?
Key numbers
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
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
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
Shape
Future product is shaped in close collaboration with a client
Lo-Fi
Long-term goal
Cut
Facets polished to shine bright. The product is ready to go live
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.
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NPS +40
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