HMW
Using 'Define' stage insights, we created multiple solutions
From Problems to Solutions
Problems
Difficulties in research & understanding of investing
It’s hard to stay motivated while learning & investing
Solutions
Provide personalized information & curriculums
Use video format that young adults are familiar with
Utilize a gamification and interactive learning system
Offer a well-organized archive for research support
Integrate social features that provide expert advice
01
Empathize
02
Define
03
Ideate
04
Deliver
05
Test & Refine
Desk research
Competitor analysis
User interview
User survey
Persona
User journey
Prioritization
IA
Wireframe
Hi-fi design
Usability test
Revision
DESIGN PROCESS
FINANCIER
PRODUCT DESIGN
APP
WEB
" HOW MIGHT WE elevate the financial literacy o f young a dults and make investment more accessible to them? "
PROJECT OVERVIEW
FINANCIER is an app designed for young adults who want to learn about finance and investments. It provides an easy and enjoyable way to understand financial concepts and offers simulated investment practice to boost confidence in investing.
Based on our research, financial literacy and understanding of investment concepts among young adults are significantly low.
FINANCIER aims to alleviate challenges in financial education among young adults and explore engaging solutions for investment learning.
PROJECT TYPE
Team Project
TOOLS
Figma/Figjam, Google hangout
DURATION
6 Weeks
44% of young adults do not possess the necessary financial literacy.
International Survey of Adult Financial Literacy (2020)
Particularly in major OECD countries like South Korea, the US, and Canada, young adults exhibit strong interest in investing but often lack financial understanding, leading to a significant gap.
PROBLEM
01
Onboarding
It provides a user-friendly UI navigation guide to help users understand its features.
Also, we added onboarding level tests for Personalized learning. Users can enhance their learning journey with personalized content.
02
Virtual market simulation
simulate investing in virtual markets that are directly linked to real financial markets, all using FINANCIER which is virtual currency.
03
Various information explore
To enhance pre-investment research efficiency, we've created the 'Explore page'. Here, users can conveniently access a variety of information necessary for investment all in one place.
04
Interactive classes
Discover engaging investment education! Dive into diverse and interactive courses to keep learning interesting.
05
Social for Investment Insights
Connect with fellow investors and share investing tips.
User can also Learn financial basics with Topping which is short-form videos.
MAIN FEATURES
EMPATHIZE
DESK RESEARCH
Financial literacy scores
Score
62
OECD Avg.
Score
62
South Korea
Score
52
USA
Score
67
UK
OECD/World
Worldwidely, only 33% are financially literate.
Financial literacy & investment - The main reason for not investing is 'lack of financial literacy,' but people are willing to invest more with increased financial education.
South Korea
The financial understanding of young people in their 20s fell short of the minimum level set by OECD.
Financial literacy & investment - When koreans choose financial products, they rely mainly on recommendations from acquaintances.
USA
97% of teens believe that financial literacy is important, but 73% of them failed to understand basic financial concepts.
Financial literacy & investment - 39% of young investors get investment information from social media.
UK
Financial literacy & investment - 91% considered themselves ‘unknowledgeable’ when it came to investing.
39% actually turned to Google for information. 27% used social media, while 18% sourced knowledge from YouTube.
COMPETITOR ANALYSIS
The analysis aimed to grasp industry users' overall needs, distinguishing our products from competitors and devising corresponding strategies.
Zogo
US (2018)
Google 100k+/IOS 58.2k+
Strengths
An opportunity to gain knowledge with financial rewards (gift cards)
Gamified approach to customized financial education
Weaknesses
No personalized support
Content can be repetitive or overly simplistic
Strengths
Metaverse - Virtual classes for kids & store to buy items for their avatar
Offers a virtual debit card and a savings account for kids
Weaknesses
Only available in Korea
Lacks advanced features for older children and teenagers
Firfin
S.Korea (2023)
Google 10k+/IOS 300+
Strengths
Simulated trading with virtual funds
Access to real-time market data and economic news
Learn about various investment topics by setting goals and tracking progress
Weaknesses
Limited Investment Choices
No games & over-explaning
No personalized support or guidance from financial advisors
Global (2018)
Investmate
Google 1M+/IOS 58.2k+
USER INTERVIEW
We conducted face-to-face interviews with five young adults aged between 20 and 30 to discuss their investment methods and investment concerns.
Person B (27, Female)
"I studied using YouTube videos because they are easily accessible. However, it was difficult to find videos suitable for my level."
Person B (27, Female)
"I studied using YouTube videos because they are easily accessible. However, it was difficult to find videos suitable for my level."
“ How do you currently study investing, and what are your pain points in terms of investment? ”
USER SURVEY
We also surveyed 59 young adults aged between 20 and 34 through an online.
51%
35%
14%
Yes
No
I did before
Q0. Do you currently have any investments?
54%
Lack of
financial
knowlege
29%
Lack of
funds
17%
Risk of loss
Q3. What are the primary reasons you have not yet invested?
52%
Online
research
*Multiple responses
News
& TV
...
50%
Family
or
Friends
27%
Q1. How did you learn about investing?
70%
Understandmarket conditons
...
64%
Read
charts
52%
Understand financial products
*Multiple responses
Q2. What are the biggest challenges you face when investing?
68%
Expert
advice
...
66%
Virtual simulations
45%
Tailored learning plans
*Multiple responses
Q4. What features should an investment training platform have?
DEFINE
PERSHNA & JOURNEY MAP
We created user persona to understand our target audience, focusing on young users in their 20s through research analysis.
Using this persona, we developed user journey map to grasp emotions and behaviors in investment scenarios, guiding product development. We then identified pain points at each stage and explored solutions.
PRIORITIZATION
We categorized and prioritized functional solutions devised at ‘Define’ stage. Using the MoSCoW method, we focused on implementing 'must-have' and 'should-have' features first. We then decided to add 'could-have' features as needed.
IDEATE
WIREFRAMES
Using the Crazy 8 technique, we sketched ideas and then crafted wireframes from the ones with good usability. Our process prioritized completeness and seamless flow between frames.
INFORMATION ARCHITECTUEE
We formed the Information Architecture (IA) by reorganizing the chosen features. To frame the product's structure, we started with the navigation menu and then incoporated detailed pages.
STYLE GUIDE
To ensure a unified and cohesive design, we created a style guide. Given our young adult target audience, we aimed for a lively and light-hearted vibe. The choice of yellow as the brand color was inspired by the name "Financier."
TEST & REFINE
SUS score
Financier average :
86
68
SUS
80.3
68
51
Poor
Okay
Good
Excellent
What does SUS mean?
SUS is a standardized metric used to measure usability perception of computer interfaces.
Interview review
About
Total 45 questions & tasks (including pre- and post- questionnaries)
User 1
User 2
User 3
User 4
User 5
Personal info
(Age/Gender/Country)
30/M/CA
28/M/CA
34/M/CA
25/F/S.Korea
25/F/S.Korea
Environment
In-person
In-person
Online
In-person
In-person
Overall
compliment
“The education system seems well-built. It should be beginner-friendly”
“I really liked being rewarded with fincoins and doing economic activities within the app”
“ I like the idea of the short clips. Also, I'm a fan of the summarization feature.”
“The app has an appealing look with user-friendly features, great for investing beginners”
Overall
criticism
“Some elements of the product (icons/text) appear a bit blurry”
“I'm getting confused between the lock icon and the coin icon”
USABILITY TEST
We conducted usability tests with 5 participants to assess and improve the product's usability. Subsequently, we incorporated changes based on their feedback to address their overall concerns.
Web version of Financier
Revision
Add onboarding pages
01
Include tooltips
02
Enhance visibility & clarity
Before
After
03
Users can practice investing in a virtual market connected to real financial markets. Personalized information is provided based on the sign-up questionnaire and past activities. Users can also take part in different investment challenges.
01
Practice trading
Challenge
Tailored info
Link to next class
Interactive chart
Explanation
We used tutorials to simplify complex concepts like charts and financial statements, ensuring user engagement through interactive learning. Additionally, we enhanced accessibility by placing education participation buttons directly on the relevant pages.
02
Educational tutorials
HI-FI DESIGN
To reduce the hassle of individually searching for financial terms, we devised a glossary feature. Users can click on unfamiliar words, and a pop-up with explanations for the terms appears.
03
Pop-up dictionary
We merged investment education with familiar short clips for young adults, adding an engaging twist to learning about investing and financial knowledge. Users can use the summarization feature to quickly review and save video details.
05
Short clips, Topping
To streamline pre-investment research, we designed the Explore page. Users can access a wide range of information in one place. They can also explore advanced insights like expert analyses and trend reports.
06
Explore page
DELIVER
FINCOIN SYSTEM
Fincoins are the virtual currency, created to provide users with real education and rewards. Upon signing up and subscribing, users receive fincoins for mock investments, gaining practical experience.
Upon signing up, users get 500 coins, and subscribing gives them 500 coins per month. They can then use these coins to practice trading in a virtual market.
Subscribe
& Invest
Yearly
$59.99
/ year
1 Year plan
20%Off
Step 1
Subscribe and start investing
Users earn coins through education, no subscription needed. Advanced features like expert coaching require fincoin payment, fostering practical learning within the app
Step 2
Learning with Fincoin
Use fin-coin to
get expert advice
As users gather fincoins through investing and education, they can exchange them for real stocks, building confidence for actual investment participation.
Step 3
Get REAL STOCKS with fincoins
Exchange fin-coin
for REAL STOCKS!
Video & Explanation
Quiz
We tailored educational curriculum with short videos for video-savvy younger audiences. Users progress through levels, earning rewards (fincoins) upon course completion. Education comprises videos, explanations, and quizzes, and users can bookmark content for future reference.
04
Video-based tailored learning
What I learned
Through this project, I realized that small changes can make a significant difference. Changes in small elements like color and size have a substantial impact on usability.
I recognized the potential gap between my assumptions and user reactions. It's essential to prioritize intuitive design from the user's perspective rather than focusing solely on aesthetics as a designer.
Next step
I intend to create an additional web version of Financier. Currently, only the Overview page in dashboard format has been designed.
If the opportunity arises, I'd like to use the UX methodology of Card Sorting to evaluate the IA of the ‘Explore’ page.