Lantrn
2022
This project was created in preparation for a portfolio review with JPMorgan Chase.
Role
Lead Designer, UX Researcher, Interviewee
Overview
This was a solo project done over the course of 5 days. I created this project in preparation for a 2nd round interview at Chase.
Primary Tools Used
Figma
Google Forms
Amazon Mechanical Turk
Problem Discovery & White Paper Research
I was informed by my Chase recruiter that during the second round of the interview process, I would need to present a portfolio review to the hiring team. In addition, they would like to see a project outside of my portfolio.
Without any projects really related to the finance industry, I decided to make one from scratch. My goal was to display my design process from beginning to end with the Chase team acting as stakeholders for my business case.
Nearly 4 in 10 Americans 'have no idea' how a credit score is calculated
An online survey conducted by LendingTree. Survey conducted with over 1,108 Americans with a =/- 2.9% margin for error.
https://www.lendingtree.com/credit-cards/study/americans-no-idea-how-credit-scores-work/
Survey
I decided to conduct my own survey. I wanted to see how people felt about credit cards in general, how they felt about their own score, and what their financial goals. I also wanted to probe if people have used other financial products to help improve or track their credit score like Credit Karma.
Amazon Mechanical Turk
21 Questions
15 Surveyors
Mixed multiple choice & short answer questions
I decided to conduct my own survey. I wanted to see how people felt about credit cards in general, how they felt about their own score, and what their financial goals. I also wanted to probe if people have used other financial products to help improve or track their credit score like Credit Karma.
Survey Issues
Sample size was very small. This was due to resources and time.
Survey structure and question language was not the best
Low incentives for surveyors to answer questions thoroughly
Did not ask about their actual credit score*
Despite these issue however, I did gain at least some insight into some of the ways people interact with their credit score.
93%
tracked their score frequently (at least twice a month)
less than
50%
had a good answer for how credit score is calculated
Satisfaction with credit score did not seem to have a strong correlation with actual knowledge of credit.
But I failed to consider or ask questions that might give me insight onto why.
So I conducted more research. I never found the why, but I did find what works. An article found that in a program for state mandated early education on finance found improvements in credit scores years later. This gave me an angle to form my problem statement.
Problem Statement
Adults struggle later in life to maintain a better credit score when they have a lack of early education about finance and credit.
Design Process
Initial competitive research found several products that address this problem indirectly and one product: (Greenlight) that have pinpointed this issue exactly and seem to offer some great solutions.
A full competitive analysis of Greenlight revealed several innovative and well thought out tools for teaching children and teens about finance. Greenlight has fun and interactive games and quizzes, parental debit card controls, and a way to set up allowance incentives for kids taking these courses.
In order to find opportunity gaps, I went through a user journey for both the child and adult. I also found studies that showed children struggling with healthy habits like chores when there is an allowance reward structure. This space is where I decided to position my product.
Link financial learning courses that tie lessons to real-world purchases and applications
Design & Prototype
With two days left, I truncated my usual design process of iteration and went straight from sketches to a Hi-Fi prototype.
In the end, a hiring freeze prevented me from presenting this project but I don't think it was a loss. It was a great challenge and has since opened doors to other opportunities.