In the beginning of the case study competition, my teammates and I were presented with a quite lengthy problem statement. Although we could’ve focused solely on simplifying the current app experience, my team and I decided that there was a much bigger pool of opportunity that we could tap into. Instead, we asked ourselves: How can we simplify our clients’ day-to-day lives?
For this project, we decided to focus on the Upwardly Mobile Young Urbanites, 18 to 34 year olds who live in an urban area and are starting to build their careers, but need some financial guidance along the way. We chose user group because of three main reasons:
With the help of other UX researchers from CIBC, we were able to collect data from past Alpha UX Vectors surveys (with a reach of over 1300 Canadian clients) as well as conduct our own user interviews with potential users. Outside of CIBC clients, we also gathered insights from financial trend reports for our user group including Credit Karma and BDO Canada. After compiling our primary and secondary research, we were able to get a better understanding of our users’ needs and frustrations.
Here are some of our key findings:
Just as it’s important to be user-centric in our design process, we must also be aware of business opportunities that exist to really sell our idea. Knowing that we would be eventually pitching our idea to business representatives, we new we needed to address existing business gaps, and how we could tap into those opportunities. Leveraging the efforts of our front and back-end analytics team as well as our digital sales team, we were able to find the following:
At this point, we knew that we wanted to create a tool to help our clients better manage their personal finances. Seeing that CIBC is currently one of the only big Canadian banks without a PFM (Personal Financial Management) mobile tool only further pushed us in that direction. As a team, we got together and held a series of ideation sessions to come up with possible ways we could tackle the problem. Some of our key ideas, which would be used in our upcoming prototypes, are shown below:
After weeks of ideating and coming up with different feature ideas, we were able narrow it down to one concept that aligned with our research. Inspired by Apple’s Screen Time feature on their iOS devices, we wanted to create a similar experience for clients that would allow them to view a projection of their next month’s cash flow. Additionally, we wanted to take a further step and allow them to take action on their finances by creating a monthly autosave plan.
Before prototyping our idea, it was important for us to organize a user flow diagram so that we knew the scope of the projects, how many screens we needed to build, and would be able to get some initial feedback from the key stakeholders. In other words, by creating this diagram, we were able to efficiently and succinctly test and pitch our idea to our users, who would help us acknowledge any grey areas we had missed, as well as address any redundant steps. Getting feedback early on not only allows us to be more user-centric in our process, but also cuts down on time spent designing screens in our initial idea which would've been scrapped in future iterations.
Despite having narrowed down our user flow through initial feedback, there were still a lot of gaps in our product that would be later uncovered through low, medium, and high fidelity mockups of our app feature. During this process, we relied heavily on our key stakeholders to provide feedback at each iteration. This included conducting usability test sessions and cognitive walkthroughs with product team members as well as current Upwardly Young Mobile Urbanites (our target users).
Main pieces of feedback and changes are noted in the supporting images below: