Smartpiggy
A financial service for college students with loans.
Role
UX Designer
Team
Jackie Chou & Chloe Kim
Duration
Spring 2020
— Problem
How might we help students achieve financial wellness through a personalized design experience?
— Solution
Journey Map
Smartpiggy is a service that supports students to feel educated and empowered to take steps at managing their loans and finances correctly.
Design System
— Research
Defining Project Scope
As we narrowed down the project scope from general financial literacy to student loans, our main focus was to make sure to educate students on ways to responsibly manage and pay off their student loans, both during and after college.
Understanding stakeholders’ perspectives
Our initial stakeholders were students, educational institutions, financial institutions like banks who can help students save and manage their money. We also included some other local and nation-wide organizations such as Moneythink.
— Define
Key Insights
There is no motivation for students to change their behaviors because students have a hard time envisioning the long term effects of student loan debt.
Personas
— Exploration
Physical Form
Product Interaction
Mid-fi Wireframe
— Outcome
Mobile Application
01 Onboarding
During the onboarding process, Smartpiggy receives the student’s financial profile, helps them create an automatic weekly payment, and sets up a daily boost. The goal of onboarding is hat students would have to only set it up once and not have to return regularly to take reoccurring action.
02 Location Reminders
Here, students can choose their key spending categories, create goals for them, add a location to each category, and receive location-based reminders to be mindful of their spending.
03 Positive Reinforcement
Students can view their total paid-off amount, as well as their projected savings amount. The badges represent their savings progress.
Students can answer one quiz question each day to help improve their financial literacy and continue a streak.
Smart Piggybank
01 Positive Reinforcement
Smart piggybank provides positive reinforcement to reward users for their positive habit changes. Smart piggybank dispenses a physical badge for reaching a major loan payment milestone and a sticker for reaching a minor milestone.
02 Spending Updates
Smart piggybank updates the financial status of users to provide feedback and motivation. Smart piggybank displays the total spending amount of the day as the default state, informs the daily boosts, and updates automatic weekly payments towards student loans.