Jamar Powell

Digital Designer

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What If Financial Education Was for Everyone?

An application displaying financed centered media is seen on a tablet style device

Abstract

This case study outlines the creation of Yield, a financial education application aimed at broadening access to financial literacy through an engaging and user-friendly platform. Under the guidance of a user-centric approach, the UX designer oversaw the project's progression from inception to implementation. Through rigorous competitive audits and usability studies, detailed insights were gleaned to inform the application's features, including personalized content and streamlined navigation pathways. Notably, the study underscores the emphasis on accessibility, with careful integration of diverse media formats and an intuitive interface to cater to users of varying abilities. By prioritizing inclusivity and user-centered design principles, Yield emerges as a pivotal tool in empowering individuals from diverse backgrounds to navigate their financial futures with confidence.

👹 The following project was developed as a school project

Problem Space

My goal for this application was to boost financial literacy across all demographics, including marginalized populations, by offering an engaging and inclusive learning environment. Unlike conventional programs, which might have felt intimidating or exclusive, this platform prioritized accessibility and fun, ensuring that everyone felt welcomed and empowered to improve their financial knowledge.

As the UX designer leading the app and website for this project, I was involved in every stage from conceptualization to execution. My responsibilities included conducting interviews to gather user insights, creating both low and high-fidelity wireframes and prototypes, building the information architecture, and conducting usability studies to ensure an optimal user experience throughout the development process.

A link to the competitive audit referenced throughout can be found here

During the competitive audit, it became evident that most financial resources (applications or websites) offered limited free options, involved cost-prohibitive interactions, and lacked built-in motivation. Usability studies further confirmed this, with participants expressing a lack of motivation towards improving their financial well-being. Combining research and usability testing feedback, it became clear that a playful and low/zero-cost solution would better guide users towards positive financial outcomes.

Personas were constructed based on the information gathered during the competitive audit.

A user persona is displayed with information about their struggles and goals. Information is also displayed concerning their age, occupation, location, education and familial context

Problem Statement
Tina is a working professional who needs resources to help her save money because she’s wanting to buy a house.

A user persona is displayed with information about their struggles and goals. Information is also displayed concerning their age, occupation, location, education and familial context

Problem Statement
Ty, a full-time researcher and caregiver, seeks an educational platform tailored to their needs. They aim to attain financial independence and effectively manage their parents' finances.

Design Exploration

8 different wireframes drawn on a sheet of physical paper
A sitemap diagram showing the different paths available on the application
A group of digital wireframes with connecting arrows showing the flow throughout Yield

Usability Study Insights

We conducted a small usability study using a low fidelity prototype. The study was a moderated usability study conducted remotely in Canada. We recruited four participants for sessions lasting between 30 to 60 minutes each. This approach helped us gain a thorough understanding of user interactions and preferences in the given context, informing our development process effectively.

The study revealed that while the application performed satisfactorily, users identified areas for improvement compared to their experiences with similar offerings. Three key findings emerged:

  1. Users recommended including a note-taking or bookmarking feature for quick access to previously viewed information.
  2. They expressed interest in personalized content and suggested implementing a For You page.
  3. Users expected standard financial tools, citing Mint as a benchmark for such features in finance-centered applications.

These insights guide us in enhancing the application's user experience and functionality.

After the Study

An animation of the splash screen for the application

In response to user feedback, the latest section has been rebranded to provide a more personal call to action. We went with a default colourscheme that is dark to align with the preferences of younger users who tend to favor this aesthetic.