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WinTrust 

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Overview

Project Length:

14 Day Sprint

Team:

Chelsea Turnbo, Nikhil Sharma, Brianna Tran 

Client:

Wintrust Bank

Tools:

Figma, Google Suite, Trello, Zoom, Slack

The Project:

WinTrust is a bank determined to help customers achieve financial well-being. They are growing customers across primarily digital channels and are looking to design an app with a native application that strengthens the financial literacy of their users and motivates them to utilize the resources that they provide. 

The Problem 

The Business: Wintrust has been working for years to provide financial literacy to customers as they promote long term habits with money that will benefit their customers and their families. Through research, the bank has realized that users are not utilizing the resources they offer. They are hoping to grow their customer base and are looking for more innovative ways to get them involved.

The User:  Users wanted an accessible way to learn more about positive financial habits because they don’t know where to find reliable information

What are we looking for?

Our first task was to understand what our users are currently using their banking app for, and seeing if they are getting the support they need.  Then, we wanted to know what kind of financial habits our users have, if any. We conducted 8 moderated interviews. These were our Key Takeaways....  

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Our user's lifetime journey of having a bank account 

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Insights: Any major milestone having to do with saving money or spending money, whether that be buying a house or saving for retirement, was a pain point for people.

Opportunity: Help make finding resources and meeting with a financial advisor easier, along with budgeting for long term goals.

Once we understood our User, we then created a Persona...

Meet Winnie - Our Persona

Winnie is saving up for a new house and is eventually planning on having a family. They are frustrated with their current bank, feeling a lack of support, and confusing website. They have been saving with certain goals in mind, but they aren’t sure if they’re on the right track. They want an easier way to receive financial advice without having to go in person. 

Winnie's Goals

  • Easy and accessible way to budget to achieve long term financial goals 

  • Trusted point of contact to be able to reach out to

  • Complete mobile friendly banking

  • Beginner friendly resources to learn about money

Winnie's Behavior

  • Uses banking app over website out of convenience

  • Tends to go to family/friends for financial advice

  • Puts in 10% of pay check into savings when they remember

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The Goals we went after and why..

How might we ensure reliable guidance to our customers?

How might we make our resources accessible and easier to navigate?

How might we create a banking product that promotes financial literacy?

 Our users told us they didn't know where to turn to for financial advise, so they just asked family and friends. So we thought it was time to solve this pain.

All users told us they knew their bank had resources but didn't know where they were. So we saw the need to help users to access those resources more easily.

All users told us they have long term financial goals, we felt it was important to help motivate them to stay on track! 

Inspirations

We took a look at many different direct and indirect financial apps. It helped us understand some of the main features that people used and what resources were currently available on bank apps. 

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The creative process behind our ideas

 It was evident in our research that it was extremely important for users to be able to find resources easily, reliable financial guidance, and easier ways to budget for important life milestones. ​While we brain stormed many ideas, there were the ones we felt worked best.

Wireframes 

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Home Page & Financial Advisor
  • Home page with Balances and Accounts along with a fully customizable chat bot to notify the User of things they need to do

  • Feature to set up a Financial Advisor appointment via the user's mobile app at the User's convenience. User never has to set foot in a bank unless they want to

  • Picture of Financial Advisor’s so the User knows who they will be talking to. 

Resources Tab
  • An easy access to all the banks resources by just switching tabs on the top of the page. Reminding users that the bank does have resources. 

  • Multiple options, the user can browse through resources that are popular or search for something specific

Budgeting Tab
  • To help users reach their long term goals we set up a budget section, front and center on the nav bar, to set goals, and be reminded of them.

  • There is a self help calculator to help the user calculate how to hit their goals within their time frame 

Usability Study

Once we finished building the prototype we were ready to start testing it. We conducted 6 moderated usability tests. The tasks are stated below. 

Task 1: How would you set up a budget plan to buy a home?

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Direct Success: 4/6

Indirect Success: 2/6

Task 2: How would you set up a meeting with a Financial Advisor?

Direct Success: 6/6

Task 3: How would you search for reading material on mortgages? 

Indirect Success: 5/6

Unsuccessfull: 1/6

Improvements after usability study  

Home Screen:

The banner is now a clickable button to navigate users to Budget and Tools. The text bubble is also now clickable taking the user to wherever it is suggesting.

We also added an area that allows the user to create a new account, or open a credit card. As this is a key point to having a bank account, and most of our users hate going into the bank to do this.

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Resources:

 While the resource tab was easy to find, navigating through the resources was difficult. We simplified the clicks for the search flow. 

Budgeting & Tools:

The question section was revamped. As you can see below the boxes were made smaller and

 $ were added. More descriptive info was added on the confirmation page so the user know has a complete break down, including a start date.

Next steps, if I had more time...

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  • Develop the Bird more, make him customizable for the User.

  • Test more on the Bird and do more monitored testing on the app so I can see where user's might get tripped up

  • Designing a like button for the resource articles and a place for the user to easily go back and see all their favorite resources in one place. 

  • Work with the bank on their colors and accesibility 

Come back soon!

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