LOOOPL
Looopl is a Money-saving App that helps people save money from their day-to-day expenses, and invest in their dreams with different earning options. Users can send, share and donate while connecting with others.
Many people struggle to save money enough money to achieve their goals. Looopl allows its users to bring both together with a variety of investment options as well as improved sales, increased customer satisfaction, help and connect with others.
Add Time Lock to investments to help achieve dreams
Select time and the amount to achieve, set alerts to get notified, move investments between the dream pots, send,& share or donate instantly or every time saved from purchases.
Invest in your dream pots from daily purchases
Make the investments part of daily purchases by setting up an affordable amount or percentage to go into dream pots with every purchase made.
Earn As You Pay
Earn from selected retails, Restaurants and Bars with every spend.
Dream Big, Achieve Faster
Boost the investments and let dreams come through faster by using crypto assets or with unique NFT assets. In addition, can also copy the favorite investors investment tactics.
Earn Interest on your savings
Choose from different interest options. Looopl allows any charges to stay in the loop and benefit its users "Looopers"
Send, Share & Donate
Send, share & donate investments with loved ones and others
Earn As You Watch
Non biased competition based streaming environment that is part of LooopL, enables its users
-Create their unique avatar profiles,
-Watch & join competitions,
-Connect with other Loopers, investors & charities locally or globally,
-Vote & get voted
-Earn Looop
-Receive job offers
Problem:
Many people find it hard to manage their savings due to not having enough time and money.
Goal:
To make saving part of the daily routine to achieve dreams with customized investment options that are easy to use and accessible. Also saves time, connects people and provide support for those who need help.
User research
I conducted interviews to understand user needs and factors that are affecting their savings. I interviewed university students, working and retired adults.
Research confirmed that if the saving money becomes part of the user’s daily routine that is customized for each person, It will allow people to be able to save money easily, save time and make purchases quickly also provide engagement to connect people, help each other and the ecosystem we live in.
Pain Points
Time and Money
Working and retired adults are too busy to focus on and manage their savings or don’t earn enough to save or both
Stress
Daily stress for young adults and students makes it harder to focus on their future and be able to manage their finances
Priorities
Some students have different priorities then saving money.
Lack of focus
Some adults find it hard to focus on saving money
Complexity
Some adults fids it complex to use Apps due to complexity and lack of visual elements.
Empathy map
Close up storyboard
Big picture story board
Personas
Features and benefits
COMPETITIVE AUDIT
Goals:
To find out how users are able to save money, invest and make a purchase.
Who are the key competitors?
Competitors:
-Moneybox, -Ibotta
What are the type and quality of competitors’ products?
MONEYBOX
With Moneybox, users can start saving and investing for their future with as little as £1. By linking their bank account via the app you can round up your everyday purchases to the nearest pound and set aside the spare change into a savings account, or invest into thousands of global companies via tracker funds.
Users can also deposit money into their account on a weekly or monthly basis and give themselves a monthly payday boost. They offer products to suit every need – from saving for users’ first home, retirement, or a rainy day, to looking for a mortgage, or tracking down their old pension pots – we’ve got you covered
They started Moneybox because people are growing up without the tools and information, they need to build their financial futures. Many don’t know where to start and taking part feels confusing and unachievable. They are determined to change this and to make saving and investing simple, enjoyable to use, and available to everyone.
Strength:
Small and smart saving options
Invest and grow over time
Simple and quick payment methods
Save for a first home
Bring old pensions together Quick sign up
Secure
Roundup
Rewards from selected retailers
Online support
Short/long term investment
IBOTTA
Ibotta is a free cashback rewards and payments app that gives real cash for everyday purchases when you shop and pay through the app. Ibotta provides thousands of ways for consumers to earn cash on their purchases by partnering with more than 1,500 brands and retailers
From buying groceries, clothing, electronics, to wine and beer, Ibotta pays cash for purchases.
Ibotta has paid out over $1 billion in cash rewards to more than 35 million users since its founding in 2012.
Strengths:
Cashback on everyday purchases
Add offers
Submit receipts
Get cashback
Easy to use
Simple and secure
Link loyalty cards
Shop online
Gift cards
Alert nearby offers
Competitors' weaknesses
Money box
Time lock
Crypto investment
Donation from savings
Earn from watching videos
In-app messaging
Map view
Submit receipts
ibotta
Time lock
Crypto investment
Donation from savings
Earn from watching videos
In-app messaging
Other investment or saving options
Short/long term investment
Round up
Gaps
Time lock
Crypto investment
Donation from savings
Earn from watching videos
In-app messaging
Other investment or saving options
Short/long term investment
Map view
Submit receipts
Roundup
Opportunities
Moneybox and Ibotta have great features to be able to save money. Making money-saving part of daily purchases is necessary to be able to make people save easily. Users should be able to save small as well as be able to have options to deposit in. Saving options will vary from retailers online and on-street, purchases to be able to add any amount they would like similar to round up but this is going to be up to users to be able to choose the amount.
Users will be able to have different investment options. Having different types of dream pot they can customize will allow people to save into these dream pots easily from day-to-day savings with the time lock to be able to make it easier to save. There will be a quick spendable pot so that users can use it anytime as a cash pot.
Users will be able to adjust how much from their savings will go into dream pots and cash pots anytime they want and will be easy to change. Investments will vary from quick ear to long-term depending on the risk level they can take. Users will be able to earn from crypto assets, NFT, interest, and watching videos/ads. Also, charges from breaking time lock will go back to users as additional income.
STARTING THE DESIGN
●Paper wireframes
●Digital wireframes
●Low-fidelity prototype
●Usability studies
AFFINITY DIAGRAM
Users want to make a purchase quickly
Supporting evidence from the usability study.
●4 out of 5 total participants said they want to make a purchase under 1 min
●3 out of 5 total participants expressed that they want to be able to add/select a new card.
"I should be able to choose different cards“
"That’s quick, can I add a new one at all?“
"Easy but I should be able to choose “
"Can I pay and check out now“
Users want to access saving options
Supporting evidence from the usability study.
●3 out of 5 total participants said they wanted the ability to access and add/to customize a new pot
●Some participants said that they like that they would be able to use some of the savings straight away
"It was easy when I find it but I can’t make my own or change“
"How can I create a new pot?“
"Not sure where it is. May be needed to be on the home page as well
"Ok, this is quick. How to change these"
Users want a confirmation option
Supporting evidence from the usability study.
●4 out of 5 total participants said they wanted an option for confirmation.
"Not summarizing“
"No confirmation, I didn’t like it“
"A bit confusing but also It pays straight away without being able to check“
"Not sure that there isn't an option to confirm the shopping
INSIGHTS AND RECOMMENDATIONS
Based on the theme that most users weren’t able to create their own pot an insight is users need access to create their own saving pot when they are on the saving page.
Based on the theme that most users weren’t able to add/change cards an insight is users need to be able to
add a new card, select and choose a different card.
Based on the theme that almost all users wanted to see confirmation before paying insight is to create a confirmation page before completing checkout.
RECOMMENDATIONS
●Add quick access to choose the shop and pay.
●Add an option for users to customize their saving options easily
●Add confirmation page
●Add/change a new card
●Send and share options including an open donation system to the charities and help others
●Time lock can create frustration to wait but with a small amount of charge, time lock can be deactivated and gives users to have access to funds. Then the amount that is charged can go back to all users as interest
●Different ways to earn money from Crypto to watching Adds or other videos
REFINING THE DESIGN
●Mockups
●High-fidelity prototype
●Accessibility
Going forward
Takeaways
Impact:
Feedback provided a massive impact on the design to make it simpler while having other features to engage its users.
What I learned:
With this design, the project learned how others’ thoughts can impact and improve the whole design process. The first idea was to create just a money-saving app. With the research and new ideas, I implemented new features so that the design project can be a whole new ecosystem that includes many helpful features like streaming, engaging people and donating.
Next Steps
Online Support
User flow for Investment options
In-app messaging features