Testing The Hypothesis 1.0

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The Opportunity:

And improved mobile banking experience by using a globalized portal to access accounts from any bank, and even access multiple bank accounts from within the same portal account; improving security for users, and providing a more comprehensive "transaction history" breakdown

The Who:

Banks and bank customers with at least one account.

The Wat:

Accessibility and security could be improved. Understanding of transactions could be more comprehensive

The Why:

Potentially weak security, excessive app diversity

Testing The Who:

The who is made up of users with bank accounts, the more accounts the better. Banks are also part of the who, since they would be getting mobile banking features, and potentially more customers. We might be able to add tech-oriented people, whether they have multiple accounts or just one.

Testing The Wat:

The what would be exactly what features to implement. Like, for example, is there THAT much of a need for a major security overhaul? Or how effective can the reworked transaction history really be? Would the change be worth the development time?

Testing The Why:

The why may be different. For some people, it may be as simple as just trying to stay ahead of the tech curve, while for others it may about completely simplifying their life if they have multiple accounts at multiple banks, or if they have trouble using their current apps.

The Interviews

1. The first person I interviewed was a man with a checking account and a savings account. He also had a credit card and was in the process of paying his mortgage. His banks with Wells Fargo, and explained that doing some stuff, like finding his account information for the few times he sets up direct deposit or receives a transfer is not intuitive. He also explained that understanding the statement sometimes could be a challenge, since the name is not always simple, regardless of the actual retailer name.


2. The second person I talked to was a young woman with a checking account and a credit card. She banked with Bank of America. She didn't have too many complaints about their app, but she was interested in investing, and just wished she didn't have to download another app that helped her to that, like Stash or Acorns. She would prefer if Bank of America had a separate section in their app where she could at least learn about investing and the stock market.


3. The third person was also a young woman. She didn't have a credit card, but she had a checking account and savings account. She also had an Acorns account, but one thing she was concerned about was security. How could she be sure they were actually investing her money when she couldn't even see what stocks she had in her portfolio? She was also worried that they might use or sell her information to third parties.


4. The fourth person was an elderly man with a checking account and a credit card. His concern was not with what he could do with the apps, but with how hard some of those things could be. Sometimes he would just drive to the bank because he couldn't figure out how to perform a task through the app.


5. The last person I interviewed was a man with a checking account, and two savings accounts. He had one account in Wells Fargo, and one in Chase. And what bothered him is he wouldn't know how much combined money he had unless he logged into both apps, wrote down the balances, and added them. He also wished that both apps where more similar to each other, because sometimes he would spend a large amount of time managing his Wells Fargo account, then switch to Chase, and he would be confused at the beginning about how to use the app.

Reflection

After doing all the interviews, I learned that different people have different concerns, but all of them seem related to security, accessibility, and features. Some people don't mind any of these, only that they have multiple apps and they can't manage everything in the same app. Accessibility is perhaps the second most important point, after security of course, because a simple app could draw more users of advanced age.

Testing The Hypothesis 2.0