A 4-day design sprint inpartnershipwith Scotiabank. Figo Friend is a digital saving experience leveraging AI to help young professionals prepare for unexpected expenses.
Scoitabank already had colors they wanted used for the application. Scoitabank is a renowned bank based in Canada. This country is very strict when it comes to WCAG, Web Content Accessibility Guidelines, and we had to meet AA+ compliance in our product.
Constraints are a girls best friend
UX constraints
• Must prioritize signing up over signing in • Must be easily linked to banks website where checking, savings and credit cards reside. • WCAG standards pass AA+ • Follow color guide • Native application
Defining the research
Secondary Research
After the brief, we began to do research about the problem space. $28,000 average amount of student loan debt in North America $11,700 average amount of debt owed by Millennials on credit cards 60% of Millennials that view financial success as not having any debt
22-30 years old who are in debt. Why 22-30? Typically this age range is burden with school loans as well as starting to navigate life as an adult. This comes with challenges such as building credit.
Key Insights from interviews
interviewed 12 people to gain qualitative research
Young Professionals are more focused on career goals and making more money then planning for milestones.
Young Professionals trusted friends and family more than banks for advice
Very few used financial planning apps to help
Financials were most stressful during major unexpected purchases
We decided to use a chatbot to build trust with the user, since we found that young professionals are less likely to trust banks. A chatbot implies the user is chatting with their friend.
We included a savings goal to encourage planning, since we found that young professionals weren’t thinking about long-term expenses.
We also included a visual map to make the future more tangible and immediate, because young professionals were often surprised by major expenses.
