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MonieQuest Fin-tech App

MonieQuest Fin-tech App

MonieQuest Redesign is a comprehensive initiative aimed at enhancing the user experience of a financial technology application. As the lead product designer for this project, I embarked on the task of reimagining the MonieQuest app to create a seamless and user-friendly platform for setting savings goals, tracking expenses, and managing finances effectively.

Job Role

Job Role

Lead Product Designer

Year

2023

Duration

Duration

8 weeks

Tools Used

Tools Used

  • Sketch for wireframing

  • Figma for interactive prototyping

  • Adobe XD for visual design

  • Zoom for usability testing

  • Notion for project documentation

Objective

Objective

The core objective of the MonieQuest Redesign project was to transform the existing application into a modern and intuitive bank savings app. This redesigned app was intended to empower users with a simplified and engaging way to manage their finances, achieve savings goals, and gain insights into their financial habits.

Results

Results

  • Enhanced Engagement: Users actively managed finances via savings goal achievements.

  • Streamlined Tracking: Expense tracking facilitated informed spending decisions.

  • Boosted Confidence: Personalized insights fostered financial awareness.

  • Smooth Goal Setting: Intuitive setup simplified allocation towards goals.

  • Validated Effectiveness: Testing confirmed user-friendly improvements.

  • Efficient Management: Integrated accounts supported holistic control.

  • Prudent Habits: Users adopted wiser spending practices.

  • Meaningful Experience: Iteration led to impactful financial empowerment.

35%

35%

Improved onboarding process

25%

25%

Increase in user retention

84%

84%

Increase in time spent on website

Approach

Approach

Conducted in-depth user interviews with a diverse group of participants, ranging from young professionals to families. Explored their financial habits, challenges, and aspirations through open-ended discussions.

Performed a competitive analysis of leading finance apps, including Mint, YNAB, and Acorns. Identified strengths and weaknesses in their user experiences, especially in terms of goal setting and expense tracking.

Mint:

  • Strengths: Comprehensive financial snapshot, budget tracking, notifications, data visualisation.

  • Weaknesses: Limited goal setting, complex user interface, occasional expense categorisation issues.

YNAB (You Need A Budget):

  • Strengths: Zero-based budgeting, envelope system, proactive expense tracking, educational resources.

  • Weaknesses: Learning curve, manual transactions, limited investment insights.

Acorns:

  • Strengths: Micro-investing, automated savings, simplified investment options, financial literacy.

  • Weaknesses: Limited budgeting, investment fees, savings focus.


These insights guided the development of MonieQuest, addressing the gaps to create a holistic bank savings app that caters to users' financial needs.

"How might we create an intuitive bank savings app that empowers diverse users to manage their finances effectively, set achievable goals, and cultivate a healthy financial mindset?"


~ Problem Statement

"How might we create an intuitive bank savings app that empowers diverse users to manage their finances effectively, set achievable goals, and cultivate a healthy financial mindset?"


~ Problem Statement

"How might we create an intuitive bank savings app that empowers diverse users to manage their finances effectively, set achievable goals, and cultivate a healthy financial mindset?"


~ Problem Statement

Brainstorming Sessions

Brainstorming Sessions

Facilitated brainstorming sessions with product managers, developers, and marketers to generate innovative features. Ideas included:

  • Goal Visualization: Interactive charts to visualize progress towards savings goals.

  • Expense Categories: Smart categorization of expenses for better tracking.

  • Financial Insights: Personalised tips based on users' spending patterns.

Organised multiple brainstorming sessions, involving musicians, designers, and potential users. Generated a wide range of ideas, such as:

  • Collaborative playlists where users could collectively contribute to themed playlists.

  • Virtual jam sessions, where musicians could jam together in real time, regardless of their physical location.

  • Cross-genre project boards, facilitating the creation of diverse music projects.

Feature Prioritisation

Feature Prioritisation

Prioritized features using the MoSCoW method:

  • Must-Have: Goal visualization, expense categories, secure account linking.

  • Should-Have: Financial insights, expense trends, automated savings.

  • Could-Have: Investment suggestions, collaborative savings goals.

  • Won't-Have: Complex investment analysis, advanced stock trading.

Wireframes

Wireframes

Wireframes

Developed wireframes that showcased the app's main screens, emphasising user flows and interactions:

  • Onboarding: Guided users through initial account setup and linking.

  • Goal Setup: Enabled users to create and customize savings goals.

  • Expense Tracking: Provided an intuitive interface for recording expenses.

Initial Prototype Before Iteration

Initial Prototype Before Iteration

Initial Prototype Before Iteration

One significant area of adjustment centered around the goal visualisation feature. While the prototype included basic progress indicators, user testing highlighted the need for more engaging and visually informative ways to track savings goals. As a result, the design interface was refined to incorporate interactive and visually appealing charts that vividly depict users' progress towards their financial goals.

One significant area of adjustment centered around the goal visualisation feature. While the prototype included basic progress indicators, user testing highlighted the need for more engaging and visually informative ways to track savings goals. As a result, the design interface was refined to incorporate interactive and visually appealing charts that vividly depict users' progress towards their financial goals.



User Testing and Iteration


I engaged participants from diverse demographics in usability testing sessions, observing how they interacted with the prototype. Users found goal tracking intuitive, but suggested clearer indicators of progress and participants praised the category suggestion feature but desired more customisation. I collected qualitative feedback through post-test interviews, noting suggestions for enhanced clarity and customisation.

I analysed usability test results to pinpoint pain points and opportunities for improvement:

  • Goal Tracking: Implemented clearer progress indicators and a goal completion celebration.

  • Expense Categories: Enhanced customisation options for personalised expense categorisation.

User Testing and Iteration


I engaged participants from diverse demographics in usability testing sessions, observing how they interacted with the prototype. Users found goal tracking intuitive, but suggested clearer indicators of progress and participants praised the category suggestion feature but desired more customisation. I collected qualitative feedback through post-test interviews, noting suggestions for enhanced clarity and customisation.

I analysed usability test results to pinpoint pain points and opportunities for improvement:

  • Goal Tracking: Implemented clearer progress indicators and a goal completion celebration.

  • Expense Categories: Enhanced customisation options for personalised expense categorisation.

Conclusion


The MonieQuest Redesign project culminated in the creation of a reimagined bank savings app that resonates strongly with users' financial needs. The redesigned app empowers users to set, track, and achieve their savings goals while providing valuable insights into their financial habits. By addressing user pain points and enhancing the app's features, MonieQuest Redesign promotes proactive financial management and fosters a positive financial outlook.


The MonieQuest Redesign project showcases the transformative power of user-centered design in the realm of financial technology. As the lead product designer, I take pride in contributing to the creation of an app that not only addresses users' financial challenges but also elevates their ability to manage their finances with confidence and clarity.

Conclusion


The MonieQuest Redesign project culminated in the creation of a reimagined bank savings app that resonates strongly with users' financial needs. The redesigned app empowers users to set, track, and achieve their savings goals while providing valuable insights into their financial habits. By addressing user pain points and enhancing the app's features, MonieQuest Redesign promotes proactive financial management and fosters a positive financial outlook.


The MonieQuest Redesign project showcases the transformative power of user-centered design in the realm of financial technology. As the lead product designer, I take pride in contributing to the creation of an app that not only addresses users' financial challenges but also elevates their ability to manage their finances with confidence and clarity.

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© Angelica Raphael 2023

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Ready to Elevate Your Project?

Let's bring your design vision to life.

Book a Discovery Call

© Angelica Raphael 2023

LinkedIn

Instagram

Twitter

Mail