Finpay | Finance Made Friendly

This finance app aims to empower users to manage personal finances with ease and clarity. The app allows for tracking expenses, setting budgets, categorizing expenditures, and gaining insights to foster better financial habits.

Project Brief

Problem

Many users find managing finances, setting budgets, and saving challenging. Current finance apps are often cluttered and complex, making it hard to make informed decisions. There’s a need for a streamlined, user-friendly solution to simplify financial tracking and foster sustainable habits.

Crafted Solution

The app focuses on a clean, minimalist user experience with key features such as:

Expense Tracking: Quick and easy tracking of daily expenses.
Budget Management: Simple tools to set and adjust budgets by category.
Insightful Analytics: Visual representations of spending patterns.
Goal-Oriented Saving: Customizable savings plans and progress tracking.

Timeline

The project spanned over 4 month, including research, design, testing, and iterations.

Tools Utilized

In this project, We utilized a range of design and development tools to streamline the workflow and enhance collaboration.

Jira

Tracks tasks and manages workflows for efficient project development and collaboration.

Figma

Quickly creates wireframes to visualize and plan user interfaces.

Balsamiq

Designs high-fidelity prototypes and enables real-time team collaboration on UI/UX.

Miro

A collaborative online whiteboard tool for brainstorming, planning, and visualizing workflows and ideas

Project Goals

The primary goals of this project are to:
- Intuitive Navigation: Ensure users can navigate the app with minimal friction.
- Encourage Financial Literacy: Provide financial insights and simple educational content.
- Enable Budget Discipline: Offer tools to help users set budgets and savings goals.
- Visualize Finances Clearly: Represent financial data visually to enhance comprehension.

Research

Understand user needs and pain points in managing personal finances digitally. Identify expectations and challenges faced in existing apps.

Surveys: Conducted with a sample of 100 users aged 18-45, focusing on app usage, pain points, and feature expectations.
Interviews: Detailed interviews with 10 participants for qualitative insights

User Personas

Based on research findings, I created three personas:
1. Akshay Gupta : A student who needs to track spending on a limited budget.
2. Ram Singh : A professional aiming to save for long-term goals but struggles with impulsive spending.
3. Sarah Kapoor : A small business owner who needs a clear overview of her personal and business expenses.

Each persona helped guide design decisions, with user needs reflecting simplicity, clarity, and minimal setup.

User Research

The research uncovered common pain points in existing finance apps:

Overcomplicated Interfaces: Users felt overwhelmed by the number of features.
Lack of Personalization: Many apps didn’t adapt to unique spending habits.
Poor Insights: Users needed clear, easy-to-digest visualizations of their spending patterns.

This guided the decision to keep the app interface minimal and focus on key metrics that help users take actionable steps toward financial health.

Competitive Analysis

Analyzed popular finance apps like Paytm, Google Pay, and Phone Pe. Key findings included:

Based on this, I focused on building a simplified, easy-to-navigate app that provides essential insights without overwhelming users.

Brainstorming & Ideation

Following research, I conducted brainstorming sessions to ideate on key app features. Key ideas included:

One-Tap Tracking: Simplifying the process of logging expenses.

Visual Spend Analysis: Charts and graphs for quick financial overviews.

Customizable Alerts: Notifications for budget limits and savings progress.

Sketches & Wireframes

After generating a multitude of ideas, we moved to the sketching phase, creating low-fidelity wireframes to visualize the layout and functionality of the app. These sketches allowed us to explore different design concepts rapidly and test various user flows.

Digital Wireframes

Developed refined wireframes in Figma with clear emphasis on functionality, ease of use, and visual hierarchy.

Final Design

The final design prioritizes user-friendliness and efficiency. Key screens include:

Home Screen: Overview of budget, expenses, and remaining balance.
Transaction Entry: One-tap entry with predefined categories.
Analytics: Graphical representation of spending patterns and monthly summaries.
Settings: Customization options for budget, savings goals, and notifications.

Style Guide

To ensure consistency across the app, we developed a comprehensive style guide that outlined design principles, color palettes, typography, and UI elements.

Colors

A well-defined color palette enhances brand identity, ensuring visual appeal and accessibility while guiding user interactions throughout the app.

Typography

Selected typography prioritizes readability and hierarchy, creating a seamless flow of information and ensuring that users can easily navigate the content.

SF PRO – San Francisco is an Apple designed typeface that provides a consistent, legible, and friendly typographic voice.

User Testing

Objective: Test the app for usability and clarity in real-world scenarios.

Methodology:

Sessions: Conducted with 15 participants using Maze.
Key Insights:
- 90% of users found the expense tracking straightforward.
- 85% appreciated the visualizations but suggested more granularity in graphs.

Changes Implemented:

Enhanced Graph Detail: Provided breakdowns of weekly and monthly expenses.
Clearer Labels: Added tooltips for budget categories to aid understanding.

Include Results & Changes Done

The finance app provides an efficient and user-friendly experience, allowing users to manage their finances without overwhelming features. The app effectively visualizes financial data, helping users better understand and manage their spending habits.
Overall, the testing validated our design choices while providing direction for enhancements.

Conclusion

Based on user feedback, we made several critical changes to the prototype. These included refining button labels for clarity, enhancing the visibility of progress tracking features, and adjusting the color contrast for better accessibility.

Additionally, we streamlined the navigation to minimize user confusion and improve overall user experience.

Scope of Improvement

Advanced Analytics: Adding features like trend forecasting.
AI-Powered Recommendations: Suggestions for budget adjustments based on past data.
Social Sharing: Users can share savings milestones with friends.

What Could have been better

Limited User Testing Rounds: More rounds with a diverse age group could have provided broader insights.
Advanced Personalization Options: A recommendation engine to offer more tailored financial tips.

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