Investing in Peace of Mind with FutureMoney
About FutureMoney
FutureMoney is a FinTech company and application dedicated to helping parents invest in their children’s future. Our team was brought on brought on to develop a feature that enables parents to securely save essential financial account details and compile an emergency binder.
Timeline
6 Weeks
Team
We were a team of four UX/UI Designers & UX Researchers
Key Contributions
Competitors Matrix
User interview
Wireframes
Prototyping
Annotated High-Fi Mockups
Our Challenge:
Users need a vault they can trust will prevent financial disruptions, and provide swift and secure access to needed documents for their loved ones.
Understanding Our Users
Users feel comforted knowing their loved ones' financial futures are secure no matter what happens
We learned that our users want to be confident that their documents are secure and that it is easy to get started with the new feature
Working together as a family is a priority
Problem Statement
Design a new feature within FutureMoney where families can manage and store essential documents and data. The Family Vault would be valuable in emergency situations such as a family member’s incapacity or death. Our goal is to have a Vault feature that would prevent financial disruptions and provide swift access to needed documents.
Project Achievements
Created cards for the home screen to keep users engaged in the new FamilyVault feature in FutureMoney.
Built trust through extra security measures by adding FaceID as an additional step for safety.
Utilized AI and minimized lengthy steps to keep users engaged and experience effortless onboarding.
Designed for Families Planning Financial Safety
Since FutureMoney is an existing app, we had a good base for our target audience: families who want to invest in their family’s future and build generational wealth.
We delved deeper to build empathy by understanding our primary users through interviews, which led us to create our persona: Maria Guerrero.
Our User Persona
Maria Guerrero
41 Years Old
Has two children
Lives in California
Current user of FutureMoney
“I need to trust the safety features of the app to feel comfortable uploading and storing sensitive documents.”
Maria recently experienced a major health scare that motivated her to create a will. This event underscored the necessity of securely storing and sharing all her vital documents with her family.
Consequently, she became interested in a new feature introduced on the FutureMoney app called the Family Vault.
Building trust while minimizing effort
Effortless Uploading
We decided to incorporate AI into our upload process to eliminate the daunting task of manually entering all fields. The AI will scan text and detect the required information for the pre-filled fields.
During interviews, 5 out of 6 users expressed hesitancy about uploading documents due to the time required for manual data entry. By using AI, we aim to alleviate this stress, simplify the process, and assist users in completing their tasks more efficiently.
Solution Exploration for User Effective Onboarding
Preventing Financial Disruptions
Idea: Building a new category system for sensitive documents
Validation:
FutureMoney Market Data: Most consumers keep physical documents at home
Competitive Analysis: I did a competitive analysis on secure file management apps like Everplans, Trustworthy, and SimplyWise, to understand how people store documents digitally
User Interviews
“I don’t want my kids to worry about not being able to access my bank accounts”
“It’s not fun to think about the worst-case scenario, but I don’t want my family to struggle even more in times of emergency.”
Swift and Secure Access
Idea: Integrate the feature in an accessible location that would promote frequent usage and place extra focus on security during onboarding to build trust
Validation:
Usability Tests: I found the majority of users tend to explore FamilyVault more often when placed in a highly visible location such as the app’s dashboard
User Interviews
“How long is this going to take before I can get started?”
“Am I able to skip the instructions?”
“I need to trust the safety features of the app to feel comfortable uploading and storing sensitive documents.”
Facilitating Family
Idea: Users can decide on the different levels of access for family members and trusted loved ones regarding personal documents
Validation:
User Interviews: I found that people prefer to have control over user management and want populating the different categories to be a collaborative effort among users.
What users had to say:
“I want to share certain personal documents with family members!”
“I would want my partner and older kids to help update and add documents to our vault”
Reflections & Lessons Learned
After finalizing edits and completing annotated notes for the developer handoff, we received feedback from the CEO of FutureMoney. The added cards on the home screen were particularly effective, as they helped keep users active in FamilyVault, a built-in feature of FutureMoney’s application.
While reflecting on this project, I learned several lessons:
Maintain clarity and consistency throughout the designs while working as a team.
User testing allowed us to understand potential issues and develop creative solutions to enhance user interaction within the app.
Trust can be built by understanding your user’s needs and reinforcing security measures within the app.