Secure Your Financial Future Through This App
Overview
Nestify is a mobile app for managing personal finance. It’s designed specifically for millennials and Gen Z in Indonesia who:
- Struggle in maintaining their monthly cash flows.
- Having difficulty paying off their debts.
- Less financially literate.
- Having mid- and long-term goals, but feeling confused about how to achieve them.
- Want to grow their assets through investing.
I packed those five pain points into a one-stop financial management tool.
Goals
- Create a user-centered digital experience that reflects accountability, accuracy, personal data privacy & safety, and suitable financial usability.
- Design an intuitive dashboard that combines saving, cash flow transactions, and investing activities, with minimal friction in browsing, updating, customizing, and verification.
- Introduce some intuitive features:
- personalized financial scanning based on monthly income and expenditures, where users can measure their financial condition and conclude their financial wealth, equipped with detailed financial recommendations.
- my wallet and envelope system in several currencies to enable users to manage their monthly spending easily.
- goal-based setting in saving or investment with scheduled auto-debit.
- investment simulation equipped with an investment calculator and an annuity calculator, especially for purchasing a house with a KPR (mortgage) or purchasing a vehicle with an installment system.
- Nestify Pedia and Nestify GPT for users’ financial literature enrichment and consultation.
- gamification system for future app growth, emphasizing the psychological aspect of users.
- Ensure responsive design across mobile as the primary focus for executing the financial activities, and for desktop and tablet for a more detailed information and trend review.
- Establish a consistent design system inspired by functionality rather than aesthetics.
Problem
Millennials and Gen Z in Indonesia often experience the following:
- Unorganized Financial Management.
- Struggle to be disciplined for saving, investing, and even tracking expenses.
- Usually use manual recording, such as a notebook or Excel.
- Lack of Financial Consciousness
- Having difficulty being financially disciplined because lifestyle and short-term indulgences dull the importance of long-term financial goals.
- Many users feel motivated at, the beginning of their financial plans but are easily demotivated in the middle.
- Investment Confusing
- Many users still don’t understand the difference between real assets and liabilities, the importance of investing, and the types of instruments they can use to grow their assets.
- Users have dream goals but don’t know how to achieve them effectively, with an affordable amount of investment based on their financial condition.
The Expected UX Metrics
- Conversion Rate: 10%-15% upgrade from active users.
- Goal Completion Rate: 50% users reach 20% of goals, 25% reach 50% of goals, and 5%-10% reach 100% (all goals).
- Drop-Off Reduction (Onboarding & Goal Setup): <20%.
- Monthly Active Users: 40%-60% of total users.
- Return Frequency: >5 times per month.
- Successful Auto-Debit Execution: >95% success rate.
- Time-to-Value: 3–5 minutes to create your first financial plan, or less than 3 minutes.
Expected UX Metrics
Goal Completion Rate
50% users reach 20% of goals, 25% reach 50% of goals, and 5%-10% reach 100% (all goals)
Conversion Rate
10%-15% upgrade from active users
Return Frequency
More than 5 times per month
Drop-Off Reduction (Onboarding & Goal Setup)
Less than 20%
Monthly Active Users
40%-60% of total users
Successful Auto-Debit Execution
More than 95% success rate
Time-to-Value
3–5 minutes to create your first financial plan, or less than 3 minutes
Key Design Decision
- Automation over manual tracking: enable inconsistent users to build a consistent habit.
- Goal-based planning as a financial anchor: more engaging than just a financial dashboard.
- MVP excludes advanced AI & investment: staging phases to launch every feature, especially for the advanced features, to avoid overwhelming users.
Core Features
- Cashflow Tracking System. Why is this important? This feature enables users to control their budget and avoid leakage of funds and financial debt.
- Auto-Debit Emergency Fund. This feature is also crucial because it builds users’ saving habits.
Constraints & Assumptions
- Constraints
- High expectation for trust and security.
- Complex features can’t be shipped at once.
- Users have several levels of financial conditions and literacy.
- Assumptions
- If the app’s security is clear, users will be willing to integrate their bank accounts.
- Automation reduces cognitive load & increases savings & investments habits.
What I Did?
As a product designer, my role is to build an end-to-end product using the design thinking approach. Here is the step-by-step process:
- Empathize:
competitive analysis, user research (survey + interviews) & synthesis (affinity mapping). - Define: synthesis (personas, value proposition canvas (VPC) – user profiles, journey map), main problem statements, and how might we.
- Ideate: Product scoping (VPC – value map, feature ideas, feature map), user flows, wireframing (low-fidelity wireframe).
- Prioritization (RICE).
- Prototyping: middle-fidelity wireframes, design system, high-fidelity UI, responsive designs, mockup designs, and interactive prototype
- Testing: usability testing (interactive prototype testing & user experience questionnaire/UEQ) and design iteration.
