Process documentation : Please click to read process documentation
Mission : To democratise complex world of finance from privileged to everyone.
Outcome :
“According to Nudge one indication that people need the help is that most people spend very little time on this important financial decision. One survey found that 58% spend less than one hour determining both their contribution rate and investment decisions. Most people spend more time than that picking a new tennis racket or TV set.”
I created an personalised ecosystem that democratises an existing problem of lack of financial knowledge, financial awareness and connections by creating your very own personalised financial AI advisor.
Just as a Personal Financial Advisor this ecosystem allows you to integrate all of your disparate financial accounts, bonus suggests weekly tips according to your status and behaviours and on top of all this it also allows you to take for in investment opportunities and offers you different strategies and behavioural design to meet your saving goals.
Ultimately it democratises currently expensive and inaccessible financial services, so that everyone has an access to a tool that can help them make the best financial decisions.
Mission : To democratise complex world of finance from privileged to everyone.
Outcome :
“According to Nudge one indication that people need the help is that most people spend very little time on this important financial decision. One survey found that 58% spend less than one hour determining both their contribution rate and investment decisions. Most people spend more time than that picking a new tennis racket or TV set.”
I created an personalised ecosystem that democratises an existing problem of lack of financial knowledge, financial awareness and connections by creating your very own personalised financial AI advisor.
Just as a Personal Financial Advisor this ecosystem allows you to integrate all of your disparate financial accounts, bonus suggests weekly tips according to your status and behaviours and on top of all this it also allows you to take for in investment opportunities and offers you different strategies and behavioural design to meet your saving goals.
Ultimately it democratises currently expensive and inaccessible financial services, so that everyone has an access to a tool that can help them make the best financial decisions.
Key features of Personal Financial AIVISOR (advisor)
1. Ease of savings and offers you behavioural design plus tactics and strategies to make best use of your saving
2. Weekly tips and recommendations according to your behaviour and your current Approaches.
3. Intuitive design that allows you to access your key financial behaviour and status at the touch of the button.
4. An ecosystem that connects all of your disparate financial accounts and activity.
5.. Ease of investments in different opportunities according to your risk level.
Context :
I did massive amount of primary and secondary research to understand and be able to conceptualise an idea for this project. My main focus of research was on Macro perspective : Finance, Socio-economics, Design, AI, Blockchain and Micro perspective : Users, University students, systems, current polices, technologies, I also conducted interviews, attended conferences, experimented with different applications and products, investments, savings system etc, to gain the most relevant data and information.
I applied all this knowledge and created different products and ideas in the beginning. Later, I experimented all these products with my target users to and the best suited solutions.
Insight :
There is a massive gap between finance and everyday people. Most people are put off by its complexity and many and it boring. Once this barrier is overcome you realise that it is one of the most interesting fields as it touches every aspect of our life. For this to happens you need the right tools, connections and knowledge.
So in democratising this fundamental element of the financial industry plus making it simple, intuitive, human friendly, I believe we can overcome this gap and with the personalised tips, saving and investment options designed in personal touch and behavioural design it becomes a very handy and user friendly system for achieving short term and long term goals.
Target market : Main : 18 - 35 tech savvy and trusting with system that can introduce them to better ways of managing money. Secondary : 18 plus who are interested.
Design Guidelines :
Branding : User friendly, Transparency, personalisation.
To reach these aims, I used specific systems and typefaces. The colours communicate transparency and trust at the same time. The simplicity yet the user friendly design makes the complex world of nance very approachable. The balance between personalisation approachability and professionalism was something I experimented a lot of get right.
Summary
I started this project with vague idea of what my final product could be. During my research I kept my project as open as possible as this could help me explore and find wide variety of ideas that I could potentially execute. During my research I found number of different problems and needs that customers wanted. Further that I thought of creating different for of systems such as a platform, ecosystem, systems etc that could all potentially solve this issues. On top of that I also look for ways such as
1. Policies
2. New disruptive technologies
3. Humane touchpoints
4. Connecting
5. Bettering existing solutions
After all these different approaches I came up with my final product which is a simple Financial AI Advisor and also a ecosystem that connects all your financial undertaking and presents to you one single ecosystem. I found that the problem nowadays is that there are to many competing product which is making everything disparate and making it difficult for the consumers on top of already difficult jargons and approaches in financial complexity. This was one of the key reason for people to be put off, so merging all of the key behaviour that consumer undertake with their banks and making investing, saving options simple and intuitive plus gaining tips.
This system has solutions for my target market which is young adults 18 – 30 and older generation who should feel comfortable with this form of technology.
Feedback
During my mock up presentation and discussion with potential users,I received amazing feedback and that they will “100% use” this if it was available.
