Financial Wellbeing
Company: Temenos
Client: Bank of Ireland
Role: UX Lead
Dublin, IE | London, UK
The Goal
Empower people to thrive financially by enabling them to make better financial decisions for themselves and for the people that matter most in their lives, their family, their business, and their community.
The Challenge
How might we inspire people to take positive steps with their finances?
How might we encourage change in behaviour through contextual insights?
How might we inform and reinforce positive behaviour?
Project Background
Bank of Ireland plans to increase retail acquisition and engagement by offering richer services that enhance the existing mobile offering to solve the challenge of low financial literacy and resilience in the Republic of Ireland.
Innovation Proof of Concept
The Approach
Design thinking methodology was used to develop and prototype a DMM solution which was the specific area of focus under the concept of Financial Wellbeing.
Timeline
The POC was used to prove the idea via the three lenses of customer desirability, business viability and stand alone technology feasibility; delivering a prototype in 12 weeks.
PHASE ONE
Discover
External Research
The design phase kicked off with empathy where we took the huge amount of datapoints and synthesised them into a manageable problem statement.
Financial Wellbeing Steering Committee Research
Looks into various approaches to creating the Financial Wellbeing Index.
BOI Financial Wellbeing Research
Collated research on financial wellbeing specific to the Ireland market.
Financial Capability and Wellbeing in Ireland
Summarises the findings of llarge-scale research conducted on behalf of the Competition and Consumer Protection Commission (CCPC) in 2018.
Internal Research
Social Trends Research
Research on how social trends and how they are impacting the digital experience as well as how people behave in the digital ecosystem.
Social Trends Research Raw Data
A more detailed insight into the Social Trends research backed up by data.
Street Pulse Interviews Prep Guide
Guiding principles for pulse check interviewing based on design thinking and empathy.
Partner Research
Collated research on financial wellbeing done by Temenos and a partner company in a presentation format.
Stakeholder and Customer Inputs
Conducted 29 hours of stakeholder interviews and validated 2 years of research with over 26 hours of customer pulse checking speaking to real dubliners on the streets of the city and making sure we take their fresh insight into account.
Customer Inputs
Customer Interviews
Stakeholder Interviews
Post-it notes (they were all recycled)
Value Canvas Excercise
Grouping all customer observations into key areas of needs, wants and fears, considering Human Values & Customer Desirability
PHASE TWO
Define
Affinity mapping exercise
Grouping customer needs & wants into key themes.
I have a plan
Plan
I have a way to do it
System
I’m in control
Control
I’m OK
Contentment
I can’t be bothered
Engagement
I need help with my behaviour
Engagement
I don’t have the skills
Engagement
I want peace of mind
General wellbeing
I want it to be easy
Ease of use
How Might We?
Defining 64 How Might We statements in 17 categories and defining 3 statements that define the challenge.
How might we inspire people to take positive steps with their finances?
How might we encourage change in behaviour through contextual insights?
How might we inform and reinforce positive behaviour?
PHASE THREE
Ideate
Story of Change
Setting the design challenge for ideation & solution definition
Ideation Hyperswarm
A Hyperswarm workshop technique facilitates big change-making ideas to emerge as part of a structured process. It involves connecting existing ‘dot’s (technologies, services, business requirements, user needs, ideas) in ideation.
The ideation resulted in 4 main journeys outlined on this board, which then was later refined and turned into a prototype in the following weeks.
Personas
Omar
A sophisticated user, who has a system in place for managing his finances. He makes educated decisions. He is financially proficient – maintains an excel sheet that dates back 10 years to keep track of his earnings and spending.
He is a proactive power user, who is arrived but not yet thriving.
GOALS
Planning – Show me the bigger picture
Engagement – Show me the possibilities
Trust – Help me make the right choice
- Financial Knowledge
- Prosperity
- Tech (Follower vs Early Adopter)
Nadia
Apathetic towards finance. She tends to spend outside her means and therefore suffers from ‘spending guilt’. She is not particularly interested in finance and therefore struggles to manage her money wisely.
She feels she needs to be saved from herself.
GOALS
Control – Help me gain control
Contentment – Take my fear away
Wellbeing – Help me get to a better place
- Financial Knowledge
- Prosperity
- Tech (Follower vs Early Adopter)
Ruby
Young and starting out. She operates on small capital, mainly her salary. She has several goals that require money and even though she is not an expert yet, she is good at managing money.
She is largely okay, but has goals. Therefore, on a constant look out for hacks and tips to save money for living life.
GOALS
Engagement – Show me the possibilities
Simplicity – Make it relevant to me
Wellbeing – Help me get to a better place
- Financial Knowledge
- Prosperity
- Tech (Follower vs Early Adopter)
Customer Journey Map
A detailed view of the journey, USP, solution architecture, business and user benefit.
Journey Benefit Analysis
The ideation hyperswarm culminated in the creation of 4 main scenarios that got deconstructed and fused into several journeys that encapsulated the most important needs and painpoints of the 3 personas. The journeys capture 7 key solution capabilities which solves many financial wellbeing challenges for the users.
PHASE FOUR
Prototype
PRIMARY TOOLS
Axure | Adobe XD
MY ROLES
UX and Design Sprint Lead | UI Design
THE TEAM
UX Design Team (3)
Scenarios
Wireframes
Emphasising functionality over fidelity, we designed wireframes for all journeys. We explored user logic, screens, and patterns aiming to eventually converge into a single realistic scenario. Big Picture: A Personalised Dashboard that gives user control over financial decisions and introduces friendly nudges to adjust behaviour.
Prototyping
In order to move the development forward we created hi-def prototypes of the solution to make it easier for developers to build the theme as well as to gather user validation and conduct peer-reviews with a high-fidelity concept.
Concept Build
This video is a showcase of the built functionality using the implemented product itself with an early version of the designs. Software I used to create the video: Premiere Pro / After Effects / Rotato
Final Screens
A design system and style guide was created and this library was used to create the final screens. Prototyping Tool: Adobe XD
Light Mode vs. Dark Mode
The Big Picture
Top-level summaries from aggregated accounts.
Safe to Spend value based on algorithm that considers income and previous financial activity.
Real-time Financial Score based on account bureau score and transactional data.
Financial Activity based on transaction and categories.
Dynamic Layout based on events to adapt to ever changing needs.
Saving Options and Automation
Captures the needs of people with a bit of extra surplus in their monthly income. It’s about developing a concept that: Gives them Big Picture | Show them Possibilities | Suggest Automation Options
Simulation, Autopilot and Ecosystem
Relying on Explainable AI to offer tools that help the user to adjust habits (saving and spending) to meet a desired goal.
Dark Screens
