PROJECT OVERVIEW

As the name states, FinGuru helps users with finance management through gamification.
In this case study we delve into designing the goal setting feature and budget tracking with focus on user engagement.

Contex

FinGuru is an AI powered finance management app. By connecting to user's bank accounts and tracking spending habits and income, helps users in:

• Managing all their finances in one place

• Effortlessly setting personalized budget and goals to save more and invest

• Helping them stick to their plans and improve their spending habits

Target audience

People who:

• Struggle with budgeting, saving and investing in general

• Are used to budgeting manually but haven't had a good experience with finance management apps

• Want to know where their money goes and stay on top of their finances

Challanges

• With a retention rate of approximately 5% in finance management apps (by the 30th day of installing), we needed to figure out the reasons for drop offs in these apps.

• Given the complexity and often overwhelming nature of finance, and the fact that fintech is associated with lots of numbers and boring charts, we needed to come up with strategies to maintain user motivation and also make it enjoyable and engaging.

THE PROCESS

DISCOVER

User Interview & Affinity Diagram

We asked mostly open-ended questions for a more engaging and conversational interview style, rather than sticking to a strict Q&A format.
Our questionnaire focused on:

1- What needs and expectations users have if they use budget apps
2- How to encourage them to stick to their plan

3-Why they stopped using previous finance management apps

Top Takeaways:

• Automation, estimations and predictions to lower the manual entry and calculations

• Strategies to manage overspending

• Preparation of users for unexpected costs

• Instant notifications to give users more control and room for growth

• Clear and straightforward design with minimal learning curve

Competitive Analysis

Through a detailed Analysis of these websites, we have designed a more effective information architecture and improved our website features.