Roomvest: Smart investment app for young adults
Background
As young adults navigate the complexities of personal finance, they often struggle to use management tools effectively.
User Research
Understanding How Young Adults Engage with Fintech Tools
We conducted 4 interviews, with various criteria including:
Degree of financial knowledge
Financial dependence
Financial goals/motivations
Main questions
What tools do you normally use to manage personal finances?
Can you walk me through a typical process for how you manage your finances using these strategies/tools?
What are your expectations for your personal finances?
Major Problem Space
Young adults face a lack of efficient tools, motivation, and accessible pathways to manage their personal finances and investments effectively.
Inefficiency
Participants want to record their expenses but don't have an efficient way.
Lack of motivation
Most young adults are less motivated and don’t see the urgent need for personal financial management.
High barriers
The entry barrier to investments is high and financial procedures related to investments are complicated.
How Might We….
How might we maximize motivation and minimize the entry barrier
for financially independent young adults to invest more?
Prototype Ideas
Usability Testing
Iteration
We decided to move forward with Prototype 3 because...
We believe it offers unique features, and we received positive feedback during interviews. Nearly every participant liked the idea of gamifying investment, as it could motivate them to put effort into learning about investing.
