About the project
Context
The challenge was to create a solution to integrate "unbanked" people into the Brazilian banking system. In Brazil, around 45 million unbanked individuals move more than R$ 800 billion annually outside the banking system. In this project, I worked as a UX Designer in a team of 5 designers.
Solution
A platform that helps people choose the ideal bank for their needs and establish a more transparent and accessible relationship with financial institutions.
Goal
Expand access to the financial system for the Brazilian population.
My Role
UX Designer
Time of project
2 months
01
Understanding the problem
Desk Research
The financial behavior of Brazilians is diverse. Some prefer traditional banks, others digital banks, and some even manage their money independently, without a bank account (unbanked).
Despite the widespread use of credit cards, 96% of Brazilians use cash for payments, and 60% prefer this method (according to a survey by the Brazillian Central Bank).
A study by the Instituto Locomotiva reveals that 45 million Brazilians are unbanked, meaning they have not moved their bank accounts for more than six months or have chosen not to have an account.
These unbanked individuals move more than R$800 billion annually outside the banking system.
It is essential to understand the opportunities and initiatives, especially from fintechs and the digital transformation of banking, for those who choose to be unbanked in Brazil.
Learnings
49% do not trust banks
Unbanked individuals move around R$800 billion
Half are between 16 and 34 years old
75% avoid using banks as much as possible
Going deeper into the problem
To deepen our understanding, we conducted research with a questionnaire (82 respondents) and interviews (5 interviewees).
Due to the short project timeframe, we did not find many unbanked individuals. However, the responses from banked individuals confirmed some of the reasons from the Instituto Locomotiva study.
"I once waited 40 minutes in a branch, and the person in charge responded in 5 minutes"
"I don't think it’s easy to get financial knowledge. There's a lot of dubious content out there. And I also don't feel safe learning alone."
Insights
Many do not know how to invest
People do not trust the information online about financial institutions
Fees and charges are not clear
Lack of clarity in information is a constant problem
02
Deciding what
to build
Initially, we would focus on educating about the financial market. However, we realized that the lack of information affects both unbanked and banked individuals, harming the client-bank relationship.
Ideating Solutions
After evaluating the research data, we decided that the best path would be to create something that would help people in making the decision of which bank they would open an account with.
We conducted a brainstorming session and prioritized the ideas for the initial version using an impact and effort matrix.
Benchmark
After defining the initial ideas for the solution, we did a benchmarking to evaluate competitors and their differentials. We found a strong competitor called "Fincatch."
03
Build the solution
Sketching ideas
Each designer sketched their interface ideas through the Crazy 8s technique. We then defined a sketch of the main flow, the bank match questionnaire.
Low-fidelity prototype
From the sketch, we moved on to a low-fidelity prototype that served mainly to validate our idea with users.
04
Validating the solution
For the validation of the idea, we invited some of the research participants to conduct usability tests using the low-fidelity prototype we had created.
In total, 5 people participated in the process, and we were able to observe some problems and already bring solutions for them.
Refining the solution
At the end of the validation process, we applied the solutions to the main problems found and created the final design of the QBanco app.
The final prototype
The BankMatch questionnaire flow helps users find the best financial institution and get clear information about the services offered.
The Future
We aim to make QBanco a reference in consulting and comparing banking services, with the following solutions:
Generate leads for banks through BankMatch
Send reports to companies (banks and fintechs) about improvements desired by users
Implement a dictionary of banking terms and services
Offer service comparisons, indicating the best option for each moment of the user's financial life.
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