COREM MOBILE BANK APP

Introducing Corem

Corem is a modern direct bank (virtual bank) which enables users to save their money and also offers high end investments by discovering them, running full background checks on these investment options and fully insuring them for the users/customers to maximize their banking experience.

Problem Statement

80% of the existent market occupied by the online/ direct banks is saturated with online bank platforms that focuses on majorly savings whereas the banks with branches offer their customers the opportunity to invest and buy stocks.

This leads to lack of focus on investment opportunities that could give it’s users the chance to improve their investment portfolios. As a result of the scarcity of these investments access, users and customers are forced to outsource these investments. This sometimes causes some of them to fall into the wrong hands of ponzi schemes offering them tantalizing ROI on their investments that are all a facade.

Design Thinking Process

Design Thinking Process

To achieve a better understanding of the problem and how to go about solving the problem holistically, I decided to go with the double diamond approach

User Research

DISCOVERING THE PROBLEM

At the beginning, this was the first of my work process where I researched the problem and wholly empathized with the users. With a viable, feasible, usable and desirable product as my sole aim, I conducted a quantitative survey by sending out Google forms to 20 targeted users in order for them to fill it.

This survey form included only questions related to their experiences while using online banks. However at the end of the survey, I was exposed to more needs, pain points and goals.



Some of the deciding questions were:
    •   If they they used online banks.
    •   If they enjoyed using these online/direct banks.
    •   What the verification process (KYC process) was like.
    •   If they would like investments options to be made avaiable for them.

This survey form included only questions related to their experiences while using online banks. However at the end of the survey, I was exposed to needs, pain points and goals.

Further Discoveries

The survey form gave the users a range of investment options which they would love to see featured on the app. These investment options were:
    •   Real Estate
    •   Agriculture
    •   Stocks, Bonds and Financial Instruments
    •   Transportation

The venn chart above gives us the pictorial representation of how use made their choices from the list of investment options offered to them via the survey form.

From the venn chart, after interviewing potential users, I discovered the following:
‍
    •   15.7% opted for only Real Estate.
    •   5.2% opted for only Agriculture.
    •   10.5% chose only Stocks, Bonds and Finacial Instruments.
    •   15.7% chose both Real Estate and Stocks, Bonds and Financial Instruments
    •   21.4% of those interviewed chose both Real Estate and Agriculture.
    •   31.5% of these potential users opted for all the three options that were presented.

The users were not particularly keen on transportion and they made it very clear as it was the least chosen, which is why it was not represented in the venn chart above. So I iterated on my thought process and decided to replace it with DOLLAR FUNDS

Personas

Userflow

The next step was to create the user flows, which defined all routes in the user journey through the app

Wireframes

Wireframes are a skeleton framework of the app. This gave me the opportunity to focus on key elements, functionality and usabilty before proceeding to the visual design. I chose to go for High Fidelity wireframes.

High Fidelity Mockups

NoW TO THE MAIN DEAL

After creating the wireframes, I designed hig fidelity mockups and created the interactive prototype to show how the app works

Create Account & Welcome back

This is where users are to create their accounts or get back into their accounts by providing the necessary information needed.

Home Screen

The interface and navigation of the home screen is easy and seamless as users can clearly see the ‘Add Money’ option and also move to other sections of the app.

Create Account & Welcome back

This is where users are to create their accounts or get back into their accounts by providing the necessary information needed.

Create Account & Welcome back

This is where users are to create their accounts or get back into their accounts by providing the necessary information needed.

Create Account & Welcome back

This is where users are to create their accounts or get back into their accounts by providing the necessary information needed.

Create Account & Welcome back

This is where users are to create their accounts or get back into their accounts by providing the necessary information needed.

Home Screen

The interface and navigation of the home screen is easy and seamless as users can clearly see the ‘Add Money’ option and also move to other sections of the app.

Other Sections

Here we have the airtime, security and other parts of the app

Usability Testing

Understanding User Reactions

After completing the high fidelity mockups, I conducted a usability test to check that the designs meet the user requirements. I tested with a few actual users and I measured the test by:
    •   Efficient use
    •   Customer/user satisfaction
    •   Functionality effectiveness

From the test I discovered:
    •   Users were able to scale through the KYC verification process seamlessly.
    •   Users were able to add new debit cards, save money and even add more money to their accounts.
    •   Users found the investment process quick and easy. Therefore meeting all their requirements and needs.

Key Learnings and Takeaways

Corem reduces the problem and stress of outsourcing investment options whilst using a mobile bank. All the hassles of searching for low ROI investments have been adequately tackled.

Also, I got the much needed exposure to the way and process a feasible, usable, effective and problem solving product is built. This has greatly improved my problem solving skill

Although I had excess fun working on this study, I was exposed to the fact that users have certain needs that if not accurately and effectively handled, it could cause them to walk away and therefore the company/oranization loses them.