Finance and Gen Z -UX case study

How this started…

This is my first full-blown project from the research to the prototype, everything was done from scratch. This is a part of a course I took from growthschool. It was a process that took months to complete. We were provided with various problem statements to choose from. And I choose this one:

Planing it out

Creating a Hypothesis

My understanding of the problem statement is as follows:

  • It can also be about the general practices about personal finances. In this it will cover the banking practices such as opening a bank account, registering for a debit/credit card. Tit will also have the details about loans and different schemes that the government and bank has for them.
  • Going more into personal finances, there is an option about the information on the budgeting and monitoring of the daily expenses. By teaching about the various methods of saving from the smallest of the amount they receive. Also, they will be able to keep track of their spendings.

Assumptions I made

In order to get to a rough solution, I gathered my assumptions together to help me get validation of these in further research process.

  • At later stages, they would also be earning a small amount of money through internships and stuff as they get close to graduating.
  • This money is often spent without any accounting, which makes for poor money handling.
  • They often get money in between the month if they are short on it.
  • The daily transactions of these users are small amounts (food, petrol, bus ticket) added with some of the more expensive ones (like shopping in a mall, movie tickets)
  • But as they are going to be graduated they do seek some amount of financial help for their money, to build good habits for the future and also make note of overspending.
  • Here they lack even the basis of the financial world, or they have misconceptions regarding it.
  • Which makes them shy away from adapting to better practices in this field.
  • Many do wish to do something about this, but are short on knowledge and guidance.
  • They mainly use online medium to pay regularly and wherever possible (majorly in cities).
  • Also, they are more comfortable with a phone rather than a desktop for such applications.


Now was the time to come up with some basic solutions for the problem statement with the information at hand and no further research done. This would ultimately be used to get validation from research as an existing product would would also help my user in the interview to relate more. So did a little how might we session and started ideating.

  • How might we encourage them to save?
  • How might we monitor their daily expenditure?
  • Also, the user will be given an option to post their success on the app itself (like Facebook feeds or Instagram stories).
  • The manual writing option can be replaced with a category selection system.
  • There can be a referral system to the app.
  • Adding an option to make the user a record the money they lend or owe to someone.
  • Giving them a cause to save money(ex. to purchase an accessory at the end of t month)
  • Rewarding system for the goal completion at end of the month (ex. a promo code)
  • The apps like split wise and kab banega crorepati were also suggested for looking at the existing products.

Gaps that were identified

  • What generally drives the user to star saving of their money.
  • How much is the use of UPI mode of payment among the users.
  • Will the user like to have a cause based saving system.
  • Are the user willing to share their successful goals with others.
  • Do they want to get information through videos or written articles?
  • Would the user like to save on a yearly basis.
  • The amount they receive very month is how big
  • Is remembering the owed or lend money an issue.
  • Is The referral link system relevant to the users.
  • Would these many options in the same app be confusing to the user.
  • The daily spending habits of the users.
  • How financially educated they are?

In search of data

The first thing I search for was about Indian finance system, and to be honest it went straight over my head with all the terms and process it was very hard to navigate through the huge data. So I then scoped down my search and googled information on topic like “spending behaviour of college students” and “how well are students financially educated?” and so on.

Creating a survey

to now even further validate my previous assumptions made and the new-found data, I created a survey to get the overall feel of the user behaviour and also to shortlist potential users for the user interview. I also added a little digital card sorting activity for the other respondents, this was my first ever attempt at card sorting, though a little sceptical of the outcome I went with the idea of conducting it and as a plan B would discard, if it did not produce any result.

About the card sorting scenario…

As the user started doing the card sort by themselves, it proved out to be very difficult for them to understand and practice the concept of the whole process.

So I added more to the instructions and also provided them with an example, but it still was quite difficult for them. So there, the card sorting did not work out as planned.

And as the process needs much more than the number of people I planned to interview I could not conduct the card sort for the one on one interview as that data would be very small in amount to analyse and validate any assumptions or the hypothesis made by me.

so i decided to stick to the user interviews for the primary research.

Talking to the users

Now that I had a few users selected for the interviews I began to look onto my assumptions made previously and also the hypothesis also the gaps that were identified. I used all of this information to make a questionnaire for the interviews

questions asked

Based on the desk and comparative research done, this is the list of questions I have prepared for the interview to get validation from real users.

  1. What is your monthly budget generally?
  2. If you do add up, how much generally?
  3. How do you feel about having goal/ rearward for saving?
  4. How do you feel about sharing your completed goal with your friends?
  5. Would a monthly goal or a yearly goal more suitable?
  6. How do you feel about the expenses you make?
  7. How do you approach saving money?
  8. What would you say take the biggest amount of money in the budget?
  9. What do you feel about the amount of knowledge you possess in the finances?
  10. What has been your approach to this Field?
  11. Would you want to dive deeper?
  12. What is your approach towards tracking your expenses?
  13. Do you get more receipts of the things you spend on?

The outcome of the interviews

The users were not convinced to the need of a money managing or handling app.

After the user interviews

The data I gathered after the interviews were conducted was very contradicting to the approach which I took in the hypothesis for solving the problem.

Grouping the users

After analysing the users and there requirements and the research done so far i grouped them into two.

what are the existing services

The change in my approch lead to a different route of ideas and sloutions, for which i did not have much data. according to the users they did try some services which dealt with finacial litracy and so i started to use some of these too.


Zerodha Varsity is a free online resource geared towards helping people learn about stock market trading and investments. The online resource is owned by leading online discount broker Zerodha. One can access Zerodha Varsity online on the website or through the mobile app.

  1. The App version of content delivery uses bite-sized card lessons which are easy to consume.
  2. They begin with the basics and provide very practical examples.
  3. The end-of-the-section Quizzes help in revision.
  4. It’s free!


getbasis is an financial education platform which covers almost all the subjects of finance which is much fouced on educating women.

My ideas

So the major question to be resolved was how might we make the user educated in the financial world.

  1. The user can track there completeion status of any of the subject to keep record.
  2. The information is presented in small digestable amounts on cards to the users.
  3. They will also be able to chat with an expert for advice they can trust.

How will it work

Reiterating on the user flows done while the brainstorming process, the modified user flow, which will help in the designing process so that the design is on point with the solutions and does not lose the path.

The look

Now that the user flow was completed, came the interface designing. I had gone through some apps for the purpose of research earlier, from which I drew some inspiration from.

The working prototype

Future plans

  1. I want to conduct more user interviews for the purpose of more user information and also conduct testing with the users.
  2. create a page for the expert so, the user can know more about them and feels at ease talking the advice.
  3. Also look more into other similar services to get to know this industry and the way it works even more.
  4. A virtual stimulation of an investment strategy or the stock market can be instilled in the application to make the learning even more practical.



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