FinLit Global
Empowering newcomers with financial knowledge and community, we aim to provide a soft landing in navigating the complexities of finance.
Financial Literature System for Immigrants and International students
A dynamic team uniting business acumen, data intelligence, and design passion. A diverse team comprised of both international and domestic students in LSA, Ross MBA, and the School of Information.
Deliverables in UX Research
User Persona
Competitor Analysis & Report
Journey Map
Background
How Large is the market?
Research
Current Solution
Unsolved Problems
Ask ChatGPT or Google
Problem: Scattered information, inaccurate, outdated
Ask People
Problem: Vulnerable to predatory actors, at-risk for serious legal and financial troubles
Get Help from Institution
Problem: Too basic knowledge or too expensive; cut off from student communities so don't understand their pain points
Pain Points
Scattered, untrustworthy, or expensive information & hard to find communities
Our Solution
Develop a platform centered around a community aimed at educating users about fintech concepts
User Personas
Sylvia Zhang
Age: 19
Nationality: Chinese
Occupation: First-year student at the University of Michigan
Challenges: Sylvia is new to the university and the US, leaving her family and home behind to go to college on her own. As a young adult, Sylvia is stressed by money management, let alone the U.S's complex financial system.
Seokgu Son
Age: 60
Nationality: South Korean
Occupation: Retired Doctor
Challenges: Seokgu never lived outside of his own country, but his daughter is about to deliver a child with her partner in the US. He wants to visit them and help her out financially, but he doesn’t know where to start. He is not familiar with English nor US financial concepts.
Raúl Ramírez
Age: 30
Nationality: Mexican
Occupation: Restaurant owner
Challenges: Raul grapples with key financial decisions like choosing US bank accounts, credit cards, and securing a mortgage for his new home. He also needs guidance on transitioning from the Mexican system to the US, all while managing the anxiety of being an immigrant.
Competitive Analysis
Unsolved Problems
Competitive Metrics
Solution
No. 1 Financial Literacy Platform for all range of newcomers
Wireframe
I employed the RITE approach to accelerate the wireframing process
Rewarding System
Rewarding system here positive reinforces users towards desired actions or behaviors
Gamification & Friends' Circle
These two elements share a social experience and participate in a collective effort, helping users overcome finance literacy challenges more easily, motivate users to earn more rewards.
Recap Session
Heuristic Evaluation
Following the creation of our initial wireframe, our objective is to refine the design solution to better align with the fundamental needs of our users
Onboarding
The current design lacks any means for users to expedite their account creation process.
"Select Your Flag" may be unclear to users regarding the purpose of this section.
Currently, the design fails to provide users with real-time feedback as they input their code. Additionally, the options section appears obligatory, possibly due to the absence of a clear system hierarchy.
Problems
Missing Usability Heuristics
No shortcuts for interactions
Unfamiliar UX Words
Missing System Status
1
2
3
Welcome to FinLit Global!
Please create an account below.
Select your preferred language
English
Select your preferred language
English
English
Select your flag
United States
Create Account
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Log in Here
Optional Invitation Code
FinLit-DFreed123
Welcome to FinLit Global!
Please create an account below.
Username
ZFreed123
zfreed@umich.edu
Password
●●●●●●●
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Account Creation
Flexibility and efficiency of use
Visibility of system status
Help users recognize, diagnose, and recover from errors
Step 1
Step 2
Homepage
The functionality of this UI element mirrors that of the one at the top, which is a usability disaster as it causes confusion for users.
Distinguishing between the items listed on the page is challenging. This can lead to confusion for users regarding the hierarchy of the courses and knowing which item to click on first.
The icon used does not effectively communicate with users in their preferred language. While it's meant to signify the current stage status for users, its unfamiliarity may lead to confusion.
If user will try to navigate through the bottom menu, user will face too many choices on the bar and they are too much congested together. Again this looks pathetic according to the Modern UI Trends.
Problems
Missing Usability Heuristics
Repeated UI elements
Visual Hierarchy missing
Confused person icon
Congested navigation bar
1
2
3
4
Course
Introduction Course
4,000
FinLit Global
Intro Video
US Finance
Overview Video
Intro To
Banking
300
300
300
Flexibility and Efficiency of Use
Aesthetic and minimalist design
Match between system and the real world
Next Steps
Design Expectation
1
Visibility of system status
We will offer users immediate feedback as they enter their code and set passwords during the account creation process
2
Flexibility and efficiency of use
We will offer users immediate feedback as they enter their code and set passwords during the account creation process
3
Aesthetic and minimalist design
We will delete Interfaces that contain information which is irrelevant or rarely needed, and will make navigation bar simple
4
Help users recognize, diagnose, and recover from errors
We will add error message in plain language to precisely indicate the problem, and constructively suggest a solution
5
Match between system and the real world
We will modify the UI elements to ensure they align with real-world counterparts and are easily recognizable
Business Expectation
1
Users financial wellness challenges
Introduce monthly financial wellness challenges that encourage users to apply what they've learned in real-life scenarios, such as saving a certain amount of money or creating a budget
2
Special promotions on financial products offered by banks
Link completion of specific educational modules to special promotions. For instance, users who complete a course on savings accounts could receive a promotional interest rate from a partner bank
3
Integrating partner bank's official accounts
Users gain direct access for inquiries, advice, or support, and can perform basic financial transactions with banks
4
Personalized learning paths
Implement AI-driven personalized learning paths that adapt to each user's knowledge level and interests
Financial Expectation
Annual revenue expected to be $7M, when nationwide expansion starts.
Partnership
Quick Summary
I embarked on this study as a UX researcher and wireframe designer.
I used Figma to analyze data and implement design solutions.
My design solutions are consistently approved and endorsed by the majority of the judges in our challenge.
The next step will involve enhancing the design to make it more attractive and aligned with the fundamental needs of the users.