Nest
Nest offers real-time insights on your financial growth and helps you set and track personal goals, from buying a home to planning retirement. With clear infographics and goal-based progress tracking, Nest empowers you to stay on top of your financial journey, helping you make informed decisions and confidently work towards a secure future.
Duration
Area of Focus
January - April 2023
User Research
UX Design
Prototyping
Client
Elevenofor - Start up
Problem Statement
Nearly 70% of adults report financial stress due to lack of clear net worth tracking and goal-based planning tools, which impacts their ability to make informed financial decisions and achieve long-term security.
!
Overview
In Nest, you start by adding your assets, liabilities, and setting personalized financial goals, which allows the app to generate a complete view of your financial landscape. For assets, Nest analyzes your investment returns over time, while for liabilities, it calculates the impact of interest payments and depreciation to provide a clear view of how these affect your financial growth. With these insights, the app aligns your financial trajectory with your goals, helping you make informed decisions to achieve them.
The app uses these metric in order to align and create a plan for your future goals
-
Cash Flow Savings Rate,
-
Debt-to-Income Ratio (DTI)
-
Investment Return Rate
-
Net Worth Growth Rate
-
Asset Allocation
-
Projected Retirement Savings
-
Emergency Fund Ratio
-
Future Debt Reduction​​
-
Liquidity Ratio
-
Investment Volatility
-
Tax Implications
Analyzing Assets
Analyzing Liabilities
Net Worth
}
-
Aligning with goals
Manages your goals by adding a timeline and amount. The app provides insights in order to reach the goal on time.
User friendly Dashboard
Automated Financial Tools
Target Users
The Aspiring Professional - Early Career, Busy & Overwhelmed
The Ambitious Achiever - Mid-Level Career, Goal-Oriented but Disorganized
The Family Planner - Young Parent, Overwhelmed with Priorities
User Research
I tried to study this space and surveyed 80 people. I got to know a few common traits between people ranging from 25-50 years of age.
Preparing for Retirement
Managing Debt
Worrying About Money
Building an Emergency Fund
Confidence in Investing
Struggling with Budgeting
Saving for the Future
Planning for Retirement Income
Easy-to-Use Financial Tools
Where to Spend Money First
Not Saving Enough for Retirement
Too Much Debt Compared to Income
Not Saving Enough for Big Goals
Financial Technology adaption
40% of individuals
have saved less than $100,000 for retirement
50% report having significant debt
40% of middle-aged adults prefer using apps that help them manage multiple financial accounts
Goal-Oriented Financial Tracking
44% of millennials say they prioritize paying down student loans over saving for retirement.
72% of millennials (25-40) say they lack confidence in their investing knowledge
Lack of Financial Knowledge
I connected the survey with a few articles on the internet to support the research insights generated.
This makes a strong point for a need of an application that helps with managing finances and creating a platform that can help a person to track and achieve goals with efficient practices.
User Persona
The user personas for the financial wellness app were meticulously developed to represent realistic archetypes of the target audience. The process involved understanding the needs, challenges, and aspirations of individuals aged 25-50 years with decent incomes, motivated to plan for their financial future. The following parameters were thoughtfully considered:
​
-
Demographics
-
Income Levels
-
Life Stages
-
Financial Challenges
-
User Goals
-
Behavioral Traits
-
Technology Usage
-
Emotional Motivations
-
Pain Points
-
Quotes to Humanize Personas
Low fidelity frames
Introductory frames that provide with setting up of the application and a part where where person can learn to explore the application to get a better idea of using it.
The data added while onboarding is collected, analysed and added to your dashboard for a better understanding.
This section of the app helps you to visualize your growth, investment, debt and manage everything at once by providing insights generated though the financial model used at the back end of the app.
Platform features
Dashboard showing the overall status
The dashboard showing Assets and Liabilities totaling the Net Worth.
It shows the amount split under the assets and liabilities.
It also shows the goals added by the user with a progress bar.
A tap on an asset button or a liability button shows the break-up and amount associated with the account.
Insights and notifications
The insight board is split into 6 sections:
Financial Health
Savings
Investments
Debt Management
Growth
Tax Management
It shows a notification sign to view a detailed version with a possible solution to change.
The user can review or change by going to the account to manage the notification by working off the insights.
Goal Tracker
Users can add a goal with an amount or time period. The app then helps them manage their assets, liabilities, debt, savings and investments to meet their goals efficiently and notify any changes needed under the insights section.
Color Pallete and Fonts
Nest
Lets get you closer to your future
