I'M
Saving Service targeting university student have goal in being independent
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ROLE
UX Researcher
UX|UI Designer
Project Type
Individual Project
Year
2022
Tools
Figma
OVERVIEW
Background
Due to recent inflation and employment difficulties, university students who are about to graduate are struggling with being independent in Korea. <I’M> aims to support students in developing spending habits and saving money to reach their goals.
My role
I was responsible for user research, ideation, prototyping, and user testing. I used Miro for research and organising information. Also, I used Figma for designing wireframes, user interfaces, and final designs. Especially, I focused on iterating the process during designing and user testing to make a desirable product by getting feedback from users and developing the design.
Discover
Secondary Research
We analysed data to find current issues which have to be tackled. Through this process, two main issues were found – 40% of users are dropping off during onboarding, and DAU aligns with the number of posts. Based on these findings, we developed two hypotheses to further explore.
In-depth Interview
After interviewing four independent college students, I discovered that the lack of economic knowledge poses a significant challenge, creating uncertainty about their future and making it more difficult for them to bridge the gap between their expectations and reality.
Expectation and Reality
Based on secondary research, there is a significant gap between the economic realities faced by college students and their anticipated economic ideals.
Define
Persona
Based on the data I collected, I created personas to better understand the pain points and situations of the target users. Specifically, recognising that the product usage experience varies depending on how close a user is to graduating from college, I developed two personas, each centred around the milestone of university graduation.
Monthly Spending Journey
The initial step in educating users about financial literacy involved modifying their current spending habits. To comprehend users' current spending habits and the emotions associated with them, I visualised Monthly Spending Activities & Emotions.
Value-effort Matrix
The thing to work on!
Help users to motivate in managing their money.
Help users to use pocket money well in a certain period.
Help users to be aware of economic knowledge.
Help users to recognise one's consumption patterns.
Pain Points
01
Lack of Economic Knowledge
Pre-independence does not know money management knowledge. Even though they recognise their lack of economic knowledge, they do not know how to solve the difficulties.
02
Difficulties in Money Management
Pre-independence is struggling with money management due to a lack of economic knowledge. Also, 4 out of 4 interviewees usually get an additional allowance.
01
Uncertainty about the Future
Pre-independence feel anxiety about being independent because of employment difficulties and inflation.
How Might We
help the university student who wants to be independent after graduation to be motivated to get a habit of managing money?
Develop
Opportunity based on Competitor Analysis
Service Value Proposition
Design
Lo-fi Prototyping & Test
Key Features
Set a goals
Increase the level of financial goal self-awareness through direct input of spending or savings amount and duration.
Keep up with your goals
Enables the breakdown of long-term goals into achievable weekly targets, fostering a sense of accomplishment and motivation through sharing and competing with friends.
Get Rewards
When winning in competitions with friends or achieving personal goals, rewards such as badges or points are granted, providing continual encouragement and motivation
How does it work
Feedback
After completing the design phase, I conducted brief product explanations and interviews with 32 individuals representing the target user demographic. The results indicated that 87.5% of participants anticipated a positive impact on their financial habits, believing that the service would foster positive changes. Furthermore, the feedback confirmed that is perceived as a desirable product by the users.
I hope you have a great day :)
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Copyright © 2024 Minhee Jeong.
Based in London, United Kingdom/Seoul, Republic of Korea