Finance App Case Study

Kakeibo

Year

2020

Client

Chris Milner

Role

UX Research, Competitive Analysis, IA, Wireframing, Usability Testing

About project

Kakeibo is a money Mindful Manager Mobile Application that helps people keep track of how much they spend on things, and how they budget/keep track of their inflow and outflow. The name Kakeibo was gotten from a Japanese style of budgeting. So basically we divide the spending categories into Needs, Wants, Culural and Unexpected and then they get to review at the end of the week, month or year.

1. Discovery Phase

The Problem

People tend to have problems saving their finances and as a result they overspend even probably more than what they earn. How might we design a platform where people can easily save money by keeping record of all their finances in one app.

Competitive Analysis

What I did:
First, I decided to focus on direct and indirect competitors, apps that has same or almost the same features as related to finance management, apps like Mint, Ynab and Goodbudget.
Key Findings:

  • Ynab and Goodbudget along with most other apps available out there are paid and as such they are not accessable to everyone
  • Goodbudget is the closest to kakeibo as it involves saving to meet needs and clearing of outstanding debts

Interviews

What I did:
I interviewed 10 people, 5 Nigerians, 3 Indians and 2 Americans for one week. All of which have been involved in using one or more applications for budgeting and keeping track of their finance They use apps like: Vbank, Mint, Google Pay, Goodbudget, Budgetbakers and bank App.
Some Questions I Asked

  • 1. How they've been managing their finances
  • 2. Can they describe their pain points based on the specific platforms they're currently using for the inflow and outflow of their cash
  • 3. What have they heard about apps that helps make budgeting easier
  • 4. What they think should be done to increase the usage of budgeting and how it can help improve lives
  • 5. How they would feel to have the apps connected to their bank accounts for easy trackings and accessability

"I think we should have platforms that make savings much easier and also help keep record of and jeep track of all ecpenses I make, because my finance have been one of the most difficult thing to keep up with especially as a student who receives income on 2 weeks basis"

~ Diksha Singhal, Interviewee

Empathy Map

Key Findings:

  • Constantly filling spreadsheets
  • Remebering Formula
  • Not sure which expense is recurring
  • Difficulty categorizing the expenses
  • Sometimes forget to keep enteries of the expense or income

2. Define Phase

Personas

What I did:
After the discovery phase was completed I decided to create 3 personas based on 3 ways a user would want to interact with the potential application.
I decided to focus on the MBTI of a potential female user and what her goals, thoughts, and needs were. I wanted to create a story for each individual, from how they first heard about the app, to the final phase of their user journey.

User Journey

What I did:
User Journey is mapped out to understand the experience from the users' eyes; it also creates an understanding of their interaction with the product as well as improvements required in the future. I crsfted the user journey based on the customers goals, touchpoints, feelings, thinking, and painpoints.

User Flow

What I learned:
The user flow affected the Hirarchy Taxonomy of the app

This are the number of steps taken for the user to reach his goals

3. Develop Phase

Low Fidelity Wireframes

What I did:
I designed some quick sketches of the flow process screens based on informations gathered from the discovery and the design phase as my first prototype

Mid Fidelity Wireframes

Next I brought the prototype up to Mid Fidelity in Figma and did usability testing asking the user that were part of my target audience to complete the MVP tasks
Some Usability Testing Feedbacks

  • Before launching the product, I've made a testing round in order to reveal possible usability problems.
  • I asked males and females who were gamers to perform the usability tasks.
  • I tested in person and documented as the users were completed tasks.
  • I asked them to sign up and create a profile, message someone, and watch all the tutorials based on their mutual interests.

Usability Testing

Observations:
People where not sure what info is needed and why
People where in a hurry to start placing a budget
People were confused on how to input their expences
Everyone was able to sign up successfully on the application.
Some users were hitting the wrong buttons and were questioning why certain information was needed.

4. Delievery Phase

Final UI Design

What I did:
Once I tested out all usability mistakes have been taken care of, I started designing the final screens on Figma.
Click to see Figma prototype

Kakeibo