The MoneyLion app is an all in one Personal Finance Management tool (PFM). After linking accounts to the app, MoneyLion estimates a customer's net worth, credit score, and provides recommendations based in the person's overall financial state.
I redesigned the app from the ground-up with a user-centric approach in mind to provide the right recommendations at the right time. Along the way, I created user flows, wireframes, functional prototypes and specifications for design and behaviors.
The company stakeholders wanted to create long-term relationships with their customers, and create opportunities to offer loans to those who might need it to improve their financial state.
The first version of the app helped users visualize their accounts in a single place, and apply for a loan but:
1. Was falling short engaging customers.
2. New users often quit the app during onboarding.
We often heard users say:
"I know these are my balances, but I wish I had some advice about what I'm doing wrong with my money."
Through user interviews I uncovered findings that data hadn't elicited, and confirmed my hypotheses.
I presented my findings annotating screens with most recurring problems and and adding quotes from users.
1. Customers were interested in personalized tips to improve their finances.
2. Many people didn't continue with enrollment because they faced difficulty reading. The density of written information and dark background were ill-suited to screens, affecting accessibility.
3. Users expressed confusion when they saw 6 different services in the home screen.
At the end of the research phase, this is what we knew we wanted for the next version of the app:
Focus on personal finance as primary use.
Loans and Credit Score should be secondary.
Use data to provide meaningful financial insights, and ultimately engage customers.
With goals in mind, I created different user flows accounting for new and current customers, to help developers understand how the app interacts with user behavior, and keep everyone focused on our goals and available data.
We went for the simplest onboarding flow for our re-launch.
Later, we dedicated a sprint to incorporate the second onboarding flow, where we give our users their first set of tips, based on their personal finances: 'Ways to save $100 this month'
I produced several sets of wireframes that doubled as rapid prototypes for user testing sessions.The modular structure of the app would allow us to present quick summaries at the top, and cards with more granular information at the bottom.
For development, this approach made easier to add/remove parts of the UI without compromising integrity.
We experimented with different types of content in the home screen to engage customers:
1. Personalized tips, alerts and news to engage users every week.
2. A weekly analysis of a customer's finances.
3. An activity summary showing a combination of insights and transaction data.
The 3rd option worked best to balance engineering efforts, and user needs. We were able to work with data we already collected, and transform it into meaningful advice.
Armed with visual potential examples, I demonstrated how the current predominantly dark corporate colors, applied to a mobile UI, lowered legibility. I created alternate solutions that would work better using other blue tones also available in the brand guidelines.
The UI became instantly positive and bright. This visual demonstration convinced the marketing and business stakeholders to lean towards a clear UI, optimized for screen communication, and consistent with the desktop platform.
In order to maintain consistency on the app, I delivered a detailed style guide to help our developers accelerate their workflow and have on hand patterns and references they could use in the future.
One of our goals was to provide advice to our customers based in their spending habits.
The product team brainstormed different spending habits and situations people might want to avoid.
While the data science team worked with us to provide data that could inform these tips in the UI,
I took the data and concepts and created simple, easy to digest, actionable tips.
During testing, users didn't express interest when we showed them loan offers in our home screen, but this was crucial to the business.
We opted to present this inside our advice modules, tailoring the message to every person situation. This not only worked to offer loans, it also helped users be aware of their financial actions.
The app personalizes certain options and content to the current user, partly based on CRM data, and partly learning from the user’s most frequent behaviors.
After some iterations, we settled for a still blue-dominant UI applied in the top summary modules, and white cards showing specifics. The homepage now give users a sense of direction summarizing all their financial information while giving users quick insights.
The app was released in September, 2016.
We have a group of KPI's to accomplish, yet to be measured:
Acquisition: App Installs
Activation: Successful bank connections.
Engagement: (active users every 7 days)
Satisfaction: Overall app store ranking & ratings.