Overview
Motivated by our own personal experience, my team and I wanted to investigate the lack confidence in financial literacy as an adult.
How might we?
How might we bridge the gap for users in financial literacy to help empower confident decision-making for personal finances?
Skills/Tools
Figma, Miro, Design Thinking, User Research, User Interviews, Iterative Design, User Testing, Wireframing, Prototyping
Why Financial Literacy?
In our initial research, we scoured the internet for articles regarding personal finances and how people felt about it. Among the pack, we found that there exists a clear and overwhelming feeling towards understanding one's own finances.
75% of American teens admitted to a lack of confidence in their knowledge of personal finance (Annuity.org,2023).
Initial Research
We conducted a series of research methods to gain better insights on who our target users are and how they feel about their own experience with financial literacy.
Once we synthesizes the feedback and results, we identified a few key findings to help us establish the list of solution and design requirements.
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Testing & Iteration
During this phase of the project, we designed a lo-fidelity prototype and conducted a heuristic analysis, first-click test, and usability test to help inform our high-fidelity design decisions.
Using Nielson-Norman’s 10 heuristics and a modified version of Deniese Pierotti’s Xerox checklist, each team member audited the app and compare responses and aggregate data on which heuristics posed the most significant points for consideration.
Due to the relatively lo-fi nature of the app and the possibility of registering “N/A” on questions that could have some future pertinence, team members additionally filled out a chart corresponding to Nielson-Norman’s 10 heuristics.
We determined the following design modifications for our next iteration:
For the first-click test (FCT), there were 28 participants who completed the activity. We created seven prompts for this test that users would interact with by clicking on the screen where they believed was the appropriate location to complete the task. The images below are from the FCT that show some of the results of our findings.
Our key findings were on the dashboard and community pages. For both, users had varying interpretations when it came to identifying the "correct" place to go for given tasks, per these heat maps.
The following are a few of the key changes for the next design iteration:
Dashboard Page:
Community Page:
After iterating on the results of our unmoderated FCT, we conducted moderated, think-aloud usability testing, which provided us with a variety of insights which were implemented into modifications. These were largely related to accessibility, quick actions, and discoverability.
The Final Design Features!
Impact of Focal
By providing a personalized educational platform that includes multiple ways of accessing information, we can best increase our users’ financial literacy fundamentals.
What's next for Focal?
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