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Discovery

Online Research

When I first considered this as my project app, I started with online research to understand this space better. This research uncovered in-depth, published competitive analyses of existing products, user reviews, and many financial blog articles.

 

I learned about the prominent players in the industry & how people generally felt about the existing products. This early research also helped me form assumptions regarding challenges and opportunities.

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User Survey

For my next step, I crafted user survey questions to try and validate or disprove my online research findings; by doing this,
I felt I would have a base understanding of the problem space. This method also requires very little management or oversight. I used a combination of closed-ended Likert scale questions and open-ended comment fields. This research showed me an opportunity that was not apparent with online research. An opportunity existed in attracting the 30 & older market. It also gave me insights to ask better questions.

 

User surveys are an effective, convenient and a low-budget research tool. Easy for both researcher and participants. I believe a well-crafted question (Concept Testing) can also reveal the features users are looking for in this type of product.

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Survey Methods

Google forms was the survey method used. A link was sent out to 20 participants via email and text message. The 12 survey questions were a combination of multiple choice, short comments and yes/no.

Survey Goals

  • What motivates a user to use a digital transaction app?

  • The user likes and dislikes about the app they currently use?

  • App features users would like to have?

  • Validate or reject Online research findings

  • Hypothesise and write (Problem Statement)

Survey Findings

  • Top 3 apps used in order:
    -1 Apple pay
    -2 PayPal
    -3 GooglePay

  • OS and device integration was important factor in choosing

  • App (convenience)

  • Major like about the current apps in order:
    -1 Easy to use
    -2 convenience

  • Major dislikes about their current app in order:
    -1 Security concerns
    -2 Sometimes doesn’t work

  • 100% of participants seem to trust Online banking

  • 70% of users don’t trust app user agreement

  • 75% of users would like the following feature:
    -A way to pay bills

  • ​65% of users would like the following features:
    - A way to select security settings
    - A way to connect my bank account

  • 55% of users would like the following features:
    - Transaction notifications
    - Recent transactions at a glance
    - Search transactions

  • 43% of users would like the following feature:
    - Set up recurring transactions

  • 95% of participants conduct some form of digital transactions

User Interviews

With each step in the research process I used my previous learnings to guide my next steps in the research phase. I used my learnings to create a user interview script. Interviews we’re essential to uncover additional insights that is not possible with survey questions—the organic nature of a conversation, tone of voice, or gestures revealed a range of opportunities and in some ways contradict survey answers. Interviews were remote, and included voice and video calls. 6 participants in the age groups of 25 - 55 were interviewed. All interviews were recorded with participants' consent, and later recordings were reviewed for information gathering and synthesis.

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Interview Methods

Remote voice and video calls. 6 participants in the age groups of 25 - 55 were interviewed. All interviews were recorded with participants' consent.

Interview Goals

  • Validate or disprove survey findings

  • Understand what is causing security and data privacy 

    concerns among users

  • Understand why users trust Online banking more than
    other digital transaction apps

  • Understand the friction points in switching to a new app

  • Validate or update the Problem Statement

Interview  Findings

  • Users over 30 years old are concerned about the device not working for in-store purchases

  • Habit to use a card over the device

  • Users over 30 collect purchase points on rewards cards

  • Users over 30 don’t feel that in-store purchase with the device is any more convenient than a payment card

  • Users want security but don’t want to lose the convenience and ease of setup/use

  • Users over 45 would like more control of their personal data and how it is shared

  • Users have different primary & secondary transaction needs

  • Users with multiple purchasers in the home need
    specific purchase notification features

  • Users under 40 trust the apps they use and are not concerned about personal data

  • Users' motivation to change apps or use them more often varied depending on age

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