Silver Bank
Silver Bank is an innovative pocket money cum banking app for kids that aims to simplify money management and make it more understandable & fun for them
Timeline
2024
My Role
Product Designer
PROJECT GOAL
Create a banking app for kids that teaches money management
in a practical, fun, and user-friendly way.
Provide a solution for parents to manage and pay their children's pocket money, while also allowing children to learn how to manage their finances.
Create a visually appealing and engaging app that incorporates elements of gamification to encourage children to use it regularly.
Design an application that is safe and secure for children to use, while also providing parents with control and oversight over their children's spending habits
UNDERSTANDING THE PROBLEM
There's a gap in mobile banking solutions for children to learn money management practically and engagingly.
Children between the ages of 6 and 18
Parents or guardians who want to automate pocket money payment and make it hassle-free
Educators and schools looking for tools to teach financial literacy to their students, integrating practical financial skills into the curriculum
Families who want to encourage saving habits and teach their children about budgeting and financial planning
TARGET AUDIENCE
Aiming to educate children and families on financial literacy and
effective money management.
Children between the ages of 6 and 18
Parents or guardians who want to automate pocket money payment and make it hassle-free
Educators and schools looking for tools to teach financial literacy to their students, integrating practical financial skills into the curriculum
Families who want to encourage saving habits and teach their children about budgeting and financial planning
VISION AND SOLUTION
Silver Bank - Redefining Money Management for Children with an Intuitive and Engaging Mobile Banking App
Conducted user research to identify pain points and needs.
Designed the app to be simple, easy to use, with an engaging and colorful interface.
Aimed to solve the problem of children lacking a safe and easy way to manage money.
Developed features including pocket money management, savings with a dream fund, a current account, chore tracking, and QR code payments.
Emphasized creating a fun experience to encourage good financial habits from a young age.
MINIMUM VIABLE PRODUCT
Design and Prototyping
Home Screen
User Greeting and Balance: Displays user’s name and current balance for a personalized experience.
Navigation Tiles: Main functionalities are presented as large, colorful, easy-to-tap tiles:
Transaction History: View past transactions.
Savings: Track savings progress.
Request Money: Easily request funds.
Bill Share: Divide and share bills.
Chores: Earn money by completing tasks.
Manage Debit Card: Manage card settings.
Interactive Elements: "Play games" feature at the bottom makes learning finance fun and rewarding.
Intuitive Navigation: Layout ensures easy navigation and promotes enjoyable financial literacy.
Bill Share
Simplifies splitting bills among multiple people.
Scan Bill: Automatically captures all bill items and the total amount.
Add Participants: Include everyone sharing the bill.
Equal Split Option: Divide the total amount equally among participants and send money requests.
Custom Share Option: Assign specific bill items to each person, then send personalized money requests based on what each person ordered.
Pay
Seamless Navigation: Transition smoothly to the Pay screen by selecting the Pay button.
Payment Options:
Code Scanning: Quickly scan to pay, offering a fast and modern method.
Tap and Pay: Pay by tapping your digital debit card on a card reader, ensuring secure transactions.
Money Request: View and respond to pending money requests from contacts.
Bill Payment Automation: Automate bill payments to simplify recurring expenses.
Pay Contacts: Send money directly to saved contacts for easy peer-to-peer transactions.
Intuitive Layout and Visual Feedback: Clear sections for each payment method reduce complexity. Instructions and visual cues guide users through each process.
Chores
Chores Screen:
Daily View: Shows today's chores and payment amounts, providing clear incentives.
Swiping Left:
Weekly Overview: Reveals all chores for the week, including daily, specific day, and recurring tasks.
User Experience Enhancements:
Visual Indicators: Icons or checkmarks for easy progress tracking.
Incentive Display: Payment amounts displayed next to each chore.
Readable Fonts and Icons: Child-friendly and easily readable.
Simplified Navigation: Easy swipe gestures and touch interactions for children.
This concise approach ensures the Chores screen is engaging, motivational, and easy to navigate, promoting responsibility and financial literacy for young users.
Savings
Savings Tab: Displays total savings prominently at the top.
Action Buttons:
Add to Account: Transfers money from savings to the current account.
Add to Passion Funds: Allocates savings to specific passion funds.
Passion Funds Section:
Fund Tabs: Each tab represents a different savings goal.
Donut Charts: Visual progress with percentage saved in the center.
Fund Details: Shows fund name, amount saved, and total target.
User Experience:
Visual Hierarchy: Important info and buttons at the top.
Engaging Visuals: Donut charts and progress indicators.
Motivational Elements: Clearly defined goals and visual progress.
Readable Text and Icons: Easy for young users to read and understand.
Intuitive Navigation: Simple layout with clear sections and buttons.
Your Account
Top Section Prominently shows the current balance for immediate visibility.
Pie Chart shows the visual breakdown of spending into categories: Spent, Savings, and Passion Funds.
Action Buttons:
Add to Savings: Allows transferring money to savings.
Add to Passion Funds: Enables allocation of money to specific passion funds.
User Experience Enhancements:
Visual Hierarchy: Important information is placed at the top for quick access.
Engaging Visuals: The pie chart provides an intuitive view of spending habits.
Intuitive Layout: Simple and clear layout for ease of use.
Request Money
Input Fields:
To: Select or enter the recipient’s name.
Remarks: Enter a description or reason for the request.
Amount: Specify the requested amount.
Send Money Request: Prominent button to submit the request.
User Experience Enhancements:
Minimalist Design: Clean layout to avoid overwhelm.
Clear Labels: Clearly labeled input fields for ease of use.
Prominent Button: Large, clickable button for easy submission.
Accessibility and Usability:
Readable Fonts: Easy-to-read text for young users.
Intuitive Layout: Logical arrangement for smooth user flow.
Immediate Feedback: Visual or haptic feedback on button press.
Manage Debit Card
Top section displays the masked debit card number and the card status (e.g., ACTIVE)
Card Controls:
Block/Unblock Toggle: Quickly block or unblock the card.
Notifications Toggle: Enable or disable card usage notifications.
Spending Limits:
Daily Limit: Slider for daily spending cap.
Ecommerce Limit: Slider for online purchase limit.
Retail Limit: Slider for in-store spending limit.
User Experience Enhancements:
Clear Visual Hierarchy: Key information and controls at the top for easy access.
Interactive Sliders: Simple and intuitive spending limit adjustments.
Visual Feedback: Immediate feedback on toggles and sliders enhances user experience.
Accessibility and Usability:
Intuitive Layout: Clear, logical sections for ease of use.
Interactive Elements: Immediate feedback on interactions ensures user-friendliness.
CONCLUSION
What I would do differently…
Conducted more extensive user testing: While I conducted user interviews and gathered valuable insights, I realized that more comprehensive user testing would have provided even deeper understanding of the target audience's needs and preferences. In the future, I would allocate more time and resources to conduct usability testing with a larger sample size to ensure the design meets the users' expectations.
Implemented an iterative design process: Reflecting on the project, I recognized the importance of an iterative design process to refine and optimize the user experience. In the future, I would incorporate more rounds of user feedback, usability testing, and design iterations to continually improve the app's usability and address any usability issues early on.
Explored additional gamification elements: While the app offers a satisfying user experience, I realized the potential to further enhance user engagement through the inclusion of gamification elements. Incorporating rewards for completing chores, introducing interactive challenges, and creating a more immersive experience would have increased the app's overall appeal and motivation for users.
Provided more customization options: In retrospect, I believe offering users more customization options within the app would have added a personal touch and increased user satisfaction. Allowing users to customize their profiles, choose different themes, or even personalize their savings goals could have made the app feel more personalized and tailored to individual preferences.
Leveraged analytics for data-driven decisions: Looking back, I recognize the missed opportunity to leverage analytics tools to gather data and make informed decisions. By implementing analytics, I could have gained valuable insights into user behavior, identified areas for improvement, and made data-driven design decisions to enhance the app's performance.
Overall, this project has been a valuable learning experience, highlighting the importance of user testing, iterative design, gamification, customization, and data-driven decision-making. Taking these learnings into account, I am excited to apply them in future projects to create even better user experiences."