A Project with DBS
Collaboration with:
Trina Low Wei Ying
Lam Hui Cheng, Gladys
A project on User Experience Design to emphasis on the user experience and how we can improve overall user satisfaction. The project approach requires an understanding of all points of interaction between a user and a given product. With the digitalization of financial services and a rapidly ageing population in Singapore, improving financial literacy is essential for making informed decisions. The project aims to the innovation of products and services that hit consumer sweet spots in terms of customer experience and the fulfillment of their needs and wants, in turn, enabling overconsumption and overspending behaviors. Now, more than ever, consumers face a growing challenge of making better decisions with their spending and savings.
Trina Low Wei Ying
Lam Hui Cheng, Gladys
A project on User Experience Design to emphasis on the user experience and how we can improve overall user satisfaction. The project approach requires an understanding of all points of interaction between a user and a given product. With the digitalization of financial services and a rapidly ageing population in Singapore, improving financial literacy is essential for making informed decisions. The project aims to the innovation of products and services that hit consumer sweet spots in terms of customer experience and the fulfillment of their needs and wants, in turn, enabling overconsumption and overspending behaviors. Now, more than ever, consumers face a growing challenge of making better decisions with their spending and savings.
We identified a user segment to address on overspending due to contactless modes of payment and propose a digital platform. We focus on the project onto managing subscriptions and we chose to target millennials as some of them have issues with overspending on subscriptions, because it can be very easy to just subscribe to things. In particular, millennials are more likely than other generations to consider subscription-based services, 33% of millennials report having at least one subscription. So when it comes to overspending, AKA 'emotional spending', Millennials make purchases on the go - with 40% of them making purchases on the phone.
Our user personas
We looked into a existing app which is DBS lifestyle app. The app aims to help users understand their spending patterns. We really liked that there are also deals and rewards made for user's lifestyles.
The User Journey map on the current DBS lifestyle app
The aim of our app is to help millennials reduce their spendings on subscriptions. We decided to add 'My Subscriptions' into the DBS Lifestyle app and keep the deals and rewards but based on subscriptions. We believe that by managing subscriptions daily, millennials can now spend smarter as they keep track on the monthly subscriptions they have purchased and remove unwanted subscriptions easily, thus preventing them from overspending.
The User Journey on our new DBS Lifestyle App
