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Designing an App for Millennials' Personal Financial Management
YPay aimed to engage millennials in personal finance via digital platforms.
The Challenge
YPay, recognizing the shifting preferences of millennials towards digital banking and away from traditional banking institutions, sought to explore how they could foster greater engagement in personal finance management among this demographic. The challenge was to devise strategies to educate and involve millennials in managing their finances effectively, leveraging digital platforms.
Ideate’s innovative design thinking has not only transformed our app's usability, increasing our Daily Active Users by 50% but also boosted our conversion rates by more than 10%. Our users love the new interface, and we're loving the results.
The Work
Ideate’s approach began with an immersive exploration of personal finance education and management, drawing insights from various global apps and online discourse. Through this research, we honed in on specific target personas aligned with YPay's objectives.
Our team investigated people's awareness and views towards personal finance by conducting interviews and gathering feedback from all over Pakistan. These insights were synthesized into a collaborative workshop with YPay's product team, generating a variety of innovative ideas to address the challenge at hand.
Iterating rapidly through prototype development and feedback loops involving our team, YPay, and target users, we refined our concepts to ensure relevance and effectiveness.
The Outcome
These efforts culminated in the creation of a redesigned mobile app for both iOS and Android platforms. The app features an informative onboarding process, educational materials, and guided pathways tailored for both novice and experienced investors. Collaborating closely with YPay, we ensured alignment of design decisions with the overarching product strategy, setting the stage for enhanced user engagement and empowerment in personal finance management in Pakistan.
Client
YPay Financials
Services Offered
Experience Design Research & Strategy Usability Audit