EQ Bank
Project Brief
EQ Bank take-home Customer Experience Design Challenge:
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Better understand how couples manage their finances together
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Improve the user experience of EQ Bank joint accounts
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4-7 slide presentation only
Time
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3 Days
Role
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UX Researcher
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UX Designer
Tools
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Figma
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Whimsical
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Final Cut Pro
Research
Secondary Sources used due to timeline
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Youtube videos from couples who are sharing their finance management systems
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Finance blogs
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Personal Finance Reddit pages
Assumptions
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Couples who bank at other institutions will have similar habits as couples who bank with EQ.
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People talking about their finances online are representative of typical banking customers
I gathered data from 11 different couples who went into detail about the organization of their finances with their partner.
Analysis
Card sort in Whimsical to find notable patterns:
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45% - 81% of couples will deposit a particular percentage of their income into their joint account every month.
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45% explicitly used the word "percentage", an additional 36% had similar habits but would use words like “extra” or “left over”
Limitation:
Unable to followup to get a better understanding of how “extra” money is decided on.
Testing
AB test to validate usefulness
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Run the test for 3 months as customers tend to transfer money once per month. Allow greater opportunity for customers to set up transfers.
From the customers conducting transfers, how many will:
A. transfer a recurring lump sum
B. transfer a recurring percentage
From the customers conducting transfers, how many will:
A. transfer a recurring lump sum
B. transfer a recurring percentage
How much money is being moved in scenario A vs B?
Lo-fi Wireframing
I believe that by allowing customers to enter a percentage of their income, more users will opt to automate their monthly transfers.
Help customers who receive:
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Commission based income
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Bonuses
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Inconsistent hours
Will make saving and budgeting more efficient
