The Problem

SBI users are facing the following problems

• Since digital payment facilitates easy payment and eliminates the limitation of carrying certain (limited) amount of cash, users sometimes tend to spend more than their budget, which increases their overall expenditure on day to day basis, which in turn affects expected savings.

• Sending and receiving money through UPI is not very intuitive with YONO SBI App, the users resort to third-party app such as Google pay, phonePe, and Paytm.

• SBI bank users have to stand in long queues at the bank to deposit cash, cheque and to avail other services which wastes their time and is very uncomfortable

The current flow of using UPI on the YONO SBI App

The Solution

Redesigned YONO SBI app and added necessary features

Secondary Research

People tend to spend more when paying digitally

• Cash Payment gives a feel of actual spending over Digital Payment though technically both are same.

• Digital Payments sometimes involve hidden costs / taxes which increase the total cost of the transactions.

• Lucrative Offers, Cash-Backs , Discounts etc. on Digital Apps attracts more and more customers.

• Ease in payments and accessing the money, some people don't think much about the balance left unlike cash.

* According to Dixit (2020), "Impact of Digital Payment Application on spending pattern of customers" 

Competitive Analysis + The Gap

Analyzed three applications to see what the competition was offering 

The first is Jupiter, which is a Neo banking app. It has no physical touchpoint and is a digital-only bank.

The Second is Axis Mobile app. It allows to Invest & Money transfer via UPI, and is in general a mobile banking application. Third is Google pay. It allows the users to send and receive money, chat, Pay bill and recharge.

One thing I observed was that none of the rivals' apps had the ability to analyze finances. The basic transaction history is best the competitors offered.

As I moved forward, I kept in mind the mental models the users have while using these third-party competitor apps. I attempted to incorporate the existing mental models of these applications into my solution while also addressing the drawbacks.

Primary Research

My interviewees used third-party apps more than the YONO SBI app itself

I conducted a survey and 7 interviews, 4 of them were bank customers while 3 were bank employees.

The purpose of interviewing bank customers was to understand:

1. what channel (Digital & Physical) do the customers prefer and why?

2. To find out the gaps between the physical and digital services to make the experience seamless.

3. Discover which apps people currently use for money transfers

4. Find out what features users desire in digital banking apps 

The purpose of interviewing bank employees was to understand:

1. The customer base that visits the bank in terms of age and the services that are asked.

2. To understand how various customer journeys are processed and followed 

Testing + Improvements

Major improvements in my design 

Based on the insights I got by conducting usability testing in my classroom of 7 possible users for our app,  I continually iterated the design with a few major improvements:

CONCLUSION + LESSONS LEARNED

My Key Takeaways from this Project

1. The Importance of User Testing 

• As a UX student, it was an enlightening experience to work on this project, especially during the user testing phase.

• One of the key learnings I gained was that the "One-Time Budget" feature I had implemented was not as intuitive as I had anticipated.

• Through user testing, I realized the importance of testing our solutions with actual users and seeing the problems from their perspective to improve the usability and user experience. By understanding and addressing user pain points, I was able to make adjustments to the "One-Time Budget" feature to make it more user-friendly and increase adoption.

2. Usability should be prioritized ahead of visual aesthetics 

• I learned this lesson during the design process for my navigation bar. Initially, the bar looked visually appealing but was confusing for users during usability testing. As a result, I made changes to prioritize usability over appearance. 

3. Iteration and Flexibility in design 

• Another important thing I took from this project was the value of being flexible and open to feedback during the design process.

• Although the solution might seem perfect on paper, it might have flaws in the real world, and it is essential to be willing to iterate based on user testing to improve the overall outcome.

Overall, this project was a valuable learning experience for me. I'm confident that the lessons I've learned will be beneficial in my future projects and career. 

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