WalletWize: Financial Literacy for Gen Z: A Case Study
Introduction
In today's digital age, financial literacy has taken a back seat in people's minds as we are constantly bombarded by social media, text messages, and other platforms. My team wanted to design an app that brings financial literacy and its importance to the most digitally savvy generation. We set out to make an intuitive app that will teach Gen Z the basics and the importance of financial literacy and responsibility.
Design Sprint Phases
Phase 1: Map and Sketch: We defined our "How Might We..?" questions and began to sketch out our long-term goals for the app.
Phase 2: Decide and Storyboard: We used a series of heat-mapping and voting exercises to narrow down a variety of designs and establish a concept for our prototype.
Phase 3: Prototype and Refine: We then began designing the prototype, each taking an aspect or role we felt we could execute best to bring the prototype to life.
Phase 4: Test and Collect: We conduct 5 user testing sessions with our target users (Gen Z) and gather data to refine the app.
Phase 5: Reflect and Report: We reflected on feedback and used the data to further develop our deliverables and final report.
Mapping
Logo and Color Schemes
Rough Sketches
Storyboarding
Prototype development
Watch the video above to see our prototype walkthrough
Results
Our design sprint resulted in a clear prototype of WalletWize. Our user testing sessions showed promise with the app and our target users. However, we did have a few areas of the app that needed further development and refinement. The overall feedback from the users was positive. Users made it clear to us that they liked the color scheme and the app's design and found most of it easy to navigate. We were able to gather both quantitative data and qualitative data through the time it took to complete the four tasks in our user test and the feedback we received during and post-testing.
Learnings and Outcomes
After user testing and the sprint were complete, we, as a team, reflected on the data we received. Our problem areas were the following: the majority of users struggled to navigate and complete the budgeting sample module we created and the quiz associated with it. The next problem area was making our FAQ page more accessible and visible. We then had a user recommend moving the FAQ to the bottom of the home page. Overall, users told us that fixing these areas of the app would make it better and more intuitive to use.
Conclusion
In conclusion, as a team, we completed a design sprint to answer our "How Might We...?" questions and teach Gen Z the basics and importance of financial literacy, tailoring it to the generation's natural ability to navigate digital platforms. While there are aspects of the app that need further refinement, the prototype and the design sprint served their purpose: saving time and money and gathering real-time feedback from our target users to build a product that is usable for Gen Z.
Please view below for our full report on WalletWize.
