WalletEX
Creating a Platform for Financial Management
OVERVIEW
TIMELINE
May 2021
ROLES
UX Researcher
UX Designer
UI Designer
DESIGN PROCESS
Research
Strategy
Research Synthesis
Wireframing
Prototyping
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BACKGROUND
Managing finances is one of the most important things. Most people don't manage well their money. A lot of people spend on unnecessary items. They end up getting out of control and come to the end of the month full of debt. These expenses accumulate over time until a person loses control completely become very difficult to recover. Moreover, I tried using a bunch of different Finance Management Apps, but none of them were efficient or helped. My concept idea is to create a more efficient app that actually helps the user.
WHAT IS WalletEx?
WalletEx focuses on an unparalleled money management experience and helps the user get an idea of how to manage his expenses. It lets the user create or manage income and expenses by grouping transactions into a budget. Additionally, the user can set saving goals for the future and get motivation for saving. The app can analyze the budgets and help a user stay informed about their finances in the form of Money Insights on the app.
COMPETITIVE ANALYSIS
I started this process understanding and observing competitors' features. Researching into similar apps out there, I could find great insights related to my main subject. I tried 4 financial apps: WalletApp, Spender, Money Manager and Money. I made an analysis of their core features, whether they integrate the user’s bank account information, how easy are their solutions to creating savings goals, to track activity and whether actually help the user.
During the research, I started to list all the features I found on those apps that could help the user to understand and control their financial life. From this analysis, I saw that the common features were based on giving the user more information and making this very visual: graphics visualization, expenses categories, income control, and manual expenses registration.
For expenses registration, I realized that all apps use manual action to add your expenses, they do not depend on the bank account, whereas connecting to the bank makes it easier for the user to not input every transaction.
In the end, analyzing the results of my research, I understand most apps can help users to control their expenses, but I couldn’t find an app that is really focused on features to help users get a better insight of their budget and helps saves money.
WHY WalletEx?
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Helps you follow a budget
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Send you spending reminders
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Helps you achieve your goals
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Better Insights of all activity
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Lets you track all transactions
USER PERSONA
I conducted a survey in person as well as online, on consumer managing their finances. I surveyed ten users. 3 of them could manage their finances but sometimes overspent. Other 6 always end up overspending and couldn't follow a set budget due to unforeseen circumstances. Commonly, only two of them used an app to manage their finances but would love to use one if it provided certain features. I focused more on the common persona.
INFORMATION ARCHITECTURE
WIREFRAMES
LOGO EXPLORATION
FINAL UI
PROTOTYPING AND TESTING
