GloriFi Insight feature: Empowering Users to Take Charge of Their Finances
Introduction
GloriFi was a fintech app that integrated banking, mortgage, and brokerage services with financial insights, rewards, news, and lifestyle content.
As the lead UX designer, I developed the 'Insight' feature to enhance financial literacy and user engagement through a user-centered design process. Our target audience was Middle Americans with conservative values, yet the app needed to be inclusive for all. Our team focused on providing a great user experience amidst the shifting priorities typical of a startup environment.
Problem
Users often struggle to consolidate their financial data across multiple accounts, making it challenging to assess their overall financial health. This fragmentation prevents effective financial planning and goal setting.
Solution
We developed the Insight feature to address this, providing personalized, easy-to-understand visualizations of users' financial data. This tool empowers users to make educated and confident financial choices and promotes self-reliance.
My Role
UX/UI Designer - Research, ideation, wireframing, prototyping, user testing, design QA, support high fidelity design and design system.
The Team
Researcher, UI designer, product owner, copywriter, business analyst, QA, and engineers.
Project Length
12 months (November 2021 - November 2022)
Process
Research
Research revealed four major financial challenges, one of which was that for many, managing multiple accounts and understanding their overall financial health was difficult. This discovery led to prioritizing the features within the "Insights" tab.
How might we…
Design an experience that makes learning about finances empowering and engaging, encouraging individuals to manage and take charge of their financial future confidently?
Design & Ideation
I collaborated with various vendors and cross-team members to explore options and ensure our feature met users' needs and business constraints. My role involved extensive brainstorming, competitive analysis, and wireframing, leading to the development of initial concepts with our team.
User Testing and Feedback
We conducted remote usability testing with our target audience to evaluate early wireframe concepts. This feedback was invaluable, leading to several pivotal adjustments in our approach.
Remote usability testing with wireframes provided critical insights:
Users appreciated having all their financial data in one dashboard.
There was a strong desire for integrating such a tool into their daily routines.
Feedback highlighted the feature's potential to significantly enhance financial management practices.
Below is an initial concept that was used in usability testing:
“I'd love to have this all in one place. That's something I've been asking for. ... The only place that exists is on a spreadsheet that I have.”
— Male, 47
“I think having all this information compiled in the same place is a really good way to just get a feel for how I'm doing financially.”
— Female, 26
“I think it is more detailed because it's pulling in various accounts, it's pulling in my credits, pulling in all my debt. … Right now, I'm going to various places to get different pieces of information.”
— Female, 38
Challenges and Adaptive Solutions
Expanding the MVP
A significant challenge arose when stakeholders proposed the integration of a comparative analysis feature within Insight. Although conceptually appealing, usability testing revealed mixed feelings among users about being compared to others. Concerns over privacy and the potential negative impact on users' financial self-esteem led us to deprioritize this feature, focusing resources on core functionalities that directly benefited our users.
Comparative analysis feature wireframes:
Key quotes from users testing the comparative analysis feature:
“I feel like I would not use it. ... I'm not trying to compare myself to other people, it only makes me more anxious about the money...”
— Female, 31
“...It might be a little degrading if you're not as good as other people, but it might push you to make better decisions so you can be on par with your peers.”
— Male, 26
“...Personally, I don't think I would use it just because I don't have any particular motivation to do that. I'm more interested in whether I'm doing well enough for myself.”
— Female, 26
Tailored Insights Enablement
Another hurdle was deciding between a unified enablement button for all financial insights or individual toggles for each component. We opted for the latter to enhance user autonomy and avoid information overload. This approach allowed users to personalize their dashboard, engaging with the financial data most relevant to their immediate needs.
Navigational Clarity
The app's evolving global navigation presented an additional challenge but ultimately resulted in a more intuitive user experience. By securing a dedicated tab for the Insight feature, we simplified access to financial data, ensuring users could derive value from the app with minimal friction.
Final Designs
The final design phase involved close collaboration with the UI team to ensure the wireframes evolved into visually compelling and brand-aligned mockups. Below, you can see an example of wireframes and final mockups to get a credit score.
Below are some of the main screens of insight like the landing screen in different states, manage accounts, net worth, credit score details.
Responsive Designs
Additionally, I developed responsive designs for various screen sizes, ensuring a seamless user experience across devices.
“…I love that I can link all my financial accounts and have them all manageable in one place. The visuals are nice and easy to follow, and help me plan for the future. ... It makes managing your finances actually fun.”
— User Review
“Not only this app beautiful, but it is full of tools and services that help you grow your finances. … Personal financial trends and information? INSIGHT…”
— User Review
Outcomes and Lessons
With the Insight feature, we achieved a significant milestone: over 40,000 app downloads and a top-10 ranking among finance apps in just two months post-launch. This success was not just in numbers but also in the positive feedback and engagement from our user base.
The development of the Insight feature reinforced the importance of user-centered design and the value of iterative testing and feedback. This project was a testament to the power of empathy in UX design, showcasing our commitment to enhancing users' financial well-being through innovative solutions.