Fall 2021
Senior Honors Thesis 💸
How might products be designed to uplift technologically underserved communities and promote financial empowerment?
Keywords: fintech, trust, adoption hesitancy, personal finances, financial literacy, mobile payments, empowerment
1 out of 20 students invited to the Senior Honors Class
Recipient of Steinhardt Thesis Grant for Research
Research Overview
Summary of work
Background
During COVID-19 in the Philippines, I noticed how my mom, who became an online food seller, struggled to navigate digital products for her micro-business and personal finances.
Due to a conflict with my graduation date, I was unable to publish my thesis. However, under the encouragement of my thesis head Ted, I was inspired to continue my research postgrad as a personal inquiry and passion project.
Inspiring Reads
On Fintech:
Designing for Private Wealth Management: Building Simple Products for Complex Portfolios | Addepar
Wealth Management Apps Essential to Attracting and Retaining Younger Investors, J.D. Power Finds | J.D. Power
High Net Worth Customers Underwhelmed by Wealth Management Mobile Apps, J.D. Power Finds | J.D. Power
Investment Product Design | Moody’s Analytics
On Culture
Sun, H. (2012). Cross-cultural technology design: Creating culture-sensitive technology for local users.
On Design
Kuang, C. & Fabricant, R. (2019). User friendly: How the hidden rules of design are changing the way we live, work, and play. Farrar, Straus and Giroux.
User interface design affects security: patterns in click-based graphical passwords. Sonia Chiasson · Alain Forget · Robert Biddle.
On Technology
Rainie, L., Anderson, J. & Caiazza, T. (2017, August 10). The fate of online trust in the next decade. Theme 3: Trust will not grow, but technology usage will continue to rise as a ‘new normal’ sets in. Pew Research Center.
Boczkowski, P. J., & Mitchelstein, E. (2021). The digital environment: How we live, learn, work, and play now.
Anker, A. (2017). Launching new trust indicators from the trust project for news on Facebook. Meta. https://www.facebook.com/formedia/blog/launching-new-trust-indicators-from-the-trust-project-for-news-on-facebook
User Research
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Descr
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Access
Who has access to financial education?
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Like to pass on first-hand knowledge
They enjoy writing about + sharing their explorations with others.
They love feeling like an expert on where to eat!
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Talks about NYC restaurants often
The NYC restaurant scene is a frequent conversation topic. They love to swap stories and share tips with friends and strangers alike.
Key Findings
Individuals catalog their restaurant explorations both for personal future reference and to share information with others
They frequently consult friends and acquaintances for restaurant suggestions + tips and tricks
They look to express their own love for the NYC restaurant scene!
Opportunities
Translating pain points into design opportunities
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How might we make it efficient for individuals to track their explorations?
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How might we make it easier for individuals to organize their insights?
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How might we offer individuals more control over their privacy?
Historical Contexts
Head
Descr
Design Decision
This made me realize that different people = different priorities.
Because of this, the organizational tools must be easily customizable and shouldn’t leave users feeling limited. I added optional category tags that give users the power to personalize their organization.
Actionable Insight #3
Users said they would trust a friend’s recommendations on Reco
How can I leverage this trust but still give users control over their privacy?
Design Decision
Across the board, users valued privacy for their own lists but simultaneously wanted access to their friend’s lists.
Reco could integrate with existing social media apps to encourage users to share their recommendations with their network. The option to share, I decided, should come with control settings to meet varying privacy and connection needs.
Reflection
Reco got me excited to someday work on full-scale products requiring high collaboration.
I wore a lot of hats for this solo project but updating my peers and professor during progress reports made me realize the power of collaboration. As my first app development project, I learned how valuable good communication skills is in design work. I learned how to provide clear goals, explain how I arrived at certain decisions, and be honest enough to ask for help when I needed it. This practice made me even more excited to someday be part of a design team!
Revisiting this project as a senior provided a matured perspective.
Having more design practice behind me, I reiterated Reco with more strategic and intentional decisions. I was braver in exploring potential design decisions instead of imitating familiar designs I recognized on Instagram or Pinterest.