RichReach
Personal Finance and Budgeting App
Problem Statement
When I manage my finances, I want an app that connects all my accounts, lets me create budgets easily, and shows all my transactions in one place, so I can reduce stress and stay on top of my financial goals.
My Process
Research
Ideation
Prototype
Testing
Business Challenges
High Financial Stress
Complexity of Existing Tools
Integration Issues
User Dissatisfaction
Need for Simplicity
Project Description
RichReach is a finance app designed to simplify budgeting and financial management. It allows users to connect multiple accounts, review transactions, and aggregate data to visualize their current financial state.It helps users track their performance against budget goals with clear, easy-to-understand visuals. By providing an overview of all financial activities in one place, RichReach empowers users to stay on top of their finances and make informed decisions to achieve their budget goals.
Competitor Analysis
Consistent use of familiar financial terminologies across the platform.
Steep learning curve for new users, making it less accessible for beginners.
Features :
YNAB excels in providing clear and real-time budget status updates, effectively preventing errors, and maintaining consistency with familiar financial terminologies.
YNAB
Features :
Copilot effectively displays account balances and spending trends with immediate updates, ensuring high consistency in UI elements and interactions.
Copilot
Demonstrates high consistency in UI elements and interactions.
Occasional misclassification of transactions, requiring user correction without suggesting possible fixes.
Quantitative Research
Observations
46%
Wants to use an application to track finance
23%
Tracks finances manually
30%
Tries to set a budget every month
40%
Participants do not actively manage their finances because they find it complicated
I conducted and an online research with about 15 users who fall in my target demographic.
User Interviews
"I would have liked to see the monthly payments of all credit cards on a single platform."
"I like an application that can give me warnings saying that Hey! in two days you have this much payment but you don't have money in your account."
"Seeing all bank accounts in the same place, what I'm going to pay, what I'm doing, how much is left."
Affinity Map
Age: 29
Work:Engineer
Family: Married, no kids
Location: San Diego CA
Character: Balanced
ABOUT
Alex Johnson is in their late 20s and married. He likes to keep life and work balanced and simple. Alex and his wife use easy apps to manage and invest money because they don't want things to be complicated. Alex looks for an app that is easy to use and helps keep track of money without trouble. They want to stay calm about money and enjoy life without worrying too much about finances. Alex's perfect money app shows everything clearly and sends reminders to help avoid problems.
GOALS
To maintain financial stability with minimal effort and complexity.
Use alerts and reminders to ensure bills are paid on time and avoid overdrafts
To find an easy-to-use tool for managing finances, including tracking spending, investments, and savings.
WANTS & NEEDS
Simplified Financial Management
Seamless Integration
Minimalistic Design
Financial Stability
Effective Communication Tools
Accessible Investment Opportunities
"Keep it simple, keep it smart; my finances should support my life, not complicate it."
PAIN POINTS
Feeling overwhelmed by the complexity and perceived inaccessibility of investment opportunities.
Difficulty in financial limitations and budgeting within personal relationships.
The time-consuming and often frustrating process of dispute resolution and managing unexpected charges.
MOTIVATION
INCENTIVE
ACHIEVEMENT
POWER
SOCIAL
ALEX
Emphaty Map
WANTS & NEEDS
Simplified Financial Management
Seamless Integration
Minimalistic Design
Financial Stability
Effective Communication Tools
Accessible Investment Opportunities
ABOUT
ALEX
Alex Johnson is in their late 20s and married. He likes to keep life and work balanced and simple. Alex and his wife use easy apps to manage and invest money because they don't want things to be complicated. Alex looks for an app that is easy to use and helps keep track of money without trouble. They want to stay calm about money and enjoy life without worrying too much about finances. Alex's perfect money app shows everything clearly and sends reminders to help avoid problems.
"Keep it simple, keep it smart; my finances should support my life, not complicate it."
Age: 29
Work:Engineer
Family: Married, no kids
Location: San Diego CA
Character: Balanced
INCENTIVE
MOTIVATION
ACHIEVEMENT
POWER
SOCIAL
GOALS
To maintain financial stability with minimal effort and complexity.
Use alerts and reminders to ensure bills are paid on time and avoid overdrafts
To find an easy-to-use tool for managing finances, including tracking spending, investments, and savings.
PAIN POINTS
Feeling overwhelmed by the complexity and perceived inaccessibility of investment opportunities.
Difficulty in financial limitations and budgeting within personal relationships.
The time-consuming and often frustrating process of dispute resolution and managing unexpected charges.
WANTS & NEEDS
Simple Plan for Money saving-goals
Feel Safe with Money
Easy Money Management
Good Budgeting Tool
Pay Off Debt
Save for Emergencies
ABOUT
TAYLOR
Taylor Morgan is in their early 20s, and navigating the challenging transition from student life to the professional world. Taylor represents many young adults seeking solution to their financial problems. She is trying hard to manage money with a small salary and student loans. She live with roommates to save money. Taylor wants to find a way to fix financial stability while dealing with her debt.
"Small steps towards big dreams."
Age: 21
Work: Speech therapist
Family: Single
Location: Dallas TX
Character: Balanced
MOTIVATION
ACHIEVEMENT
POWER
SOCIAL
INCENTIVE
GOALS
To create and stick to a realistic budget that accommodates their limited income.
To build an emergency fund, even if it's small.
To develop a clear plan for paying off student loans as efficiently as possible.
PAIN POINTS
Struggling to save money for emergencies or future needs because most of their income goes to bills and loans.
Feeling lost in the complexity of managing finances, saving, and debt repayments.
The stress and anxiety from student loan debt are overwhelming, especially with the pressure to pay it off as soon as possible.
User Flow
Apple
Email & Password
Credentials Confirmed
Forgot Password?
Text
Call
Sketches
Before moving to the high-fidelity designs, I conducted two rounds of usability testing to uncover potential usability problems. My goal was to identify issues in the budget creation and bank account addition flows at the final phase of the high-fidelity screens. The participants, representative of the target group, were given specific tasks to complete using remote and moderated methods.
These tests provided valuable insights, such as some icons being confusing and the need for more consistent navigation. Additionally, feedback highlighted the improved usability of the clickable budget creation feature and the positive impact of the bank account addition animation on user confidence and perceived wait times.
Usability Testing
Changes after Usability Testing
Wireframe
Screens
Landing
Sign Up Additional Details
Onboarding
Dashboard
Login
OTP Verification
Account Setup
Budget
Transactions
Sign Up
Sign Up Confirmation
Add Bank Account
Budget Creation
Budget Detail
Through the RichReach project, I have gained invaluable insights into the full spectrum of the UX design process, from initial research and persona development to usability testing and iterative refinement. This project taught me the importance of maintaining a user-centered approach and continuously seeking feedback to enhance the user experience. By focusing on minimalist design principles and addressing usability issues, I have learned how to create intuitive and engaging interfaces that meet user needs.
Now that I understand the process better, I realize that I could have started user testing earlier and involved a more diverse group of users for broader feedback. Additionally, maintaining more detailed documentation of feedback and design changes, exploring multiple design variations, and prioritizing accessibility from the beginning would have further enhanced the project's outcome. These experiences have significantly contributed to my growth as a UX designer.
Learnings
