Track all your expenses easily with Expensify — a UI/UX exploration

Following the vast growth of the fintech industry in Indonesia, with each offering different “benefits” for its customers, it can be very overwhelming for them to keep track of all the platforms they use. Research shows that they felt impulsive toward their spending, and can’t control their expenses properly.

Expensify is based on the thought that allows users to keep track of their expenses, both offline and online spending, and maximize the motivation for users to properly manage their financials.

Disclaimer: This is an outcome of the UI/UX Research & Design Bootcamp, established by Binar X Kampus Merdeka I participated in that ends July 2022. The similarity in names, colors, fonts and anything else is highly coincidental. This article is meant to document all the steps and thoughts behind the decision-making process in developing Expensify.

Credit goes to Raldi, Afifa, Afifah, Regita, Amira, Monika, and Vivi as my amazing teammates throughout the completion of this project.

With the vast growth of the fintech industry, as of today, Indonesia is already home to 300+ fintech companies. With each offering different benefits and advantages, and the sharp eyes for all forms of cashback, it can be very hard for customers to resist and say no. The increasing quantity of fintech platforms used also makes it overwhelming for the user to keep track of. Problems arose when gathering all the expense reports from all platforms is considered as an issue. With the goal to properly manage their finances, there needed to be a medium where customers are able to be well-informed about their expenses.

The research first started with conducting user surveys with more than 60 responses to get a better look at what users spent their money on and what they hoped to do better. Then, in-depth interviews helped us to deepen our understanding of how they manage their finances and to uncover the specific issues that need resolving. Lastly, we did competitive benchmarking to have a grasp of the approaches other apps used to resolve similar issues.

Insights

  1. A similar app, Sribuu, already covered conventional fintech E-wallet and M-banking platforms for users to keep track of, and provided features such as setting targets, reports, and categorized budgeting, but they don’t provide enough persuasion and little to no awarding to motivate their users (per July 2022).
  2. Average users have already used two or more fintech platforms for daily transactions and needs.
  3. Users felt they are too impulsive on their expenses because they put little to no effort into keeping track of their expenses.
  4. Dividing the budget into multiple categories can be very challenging due to many unexpected and unplanned spendings.

Click here to see our research process.

Defining key motivations and goals

Primarily, research indicates that everyone might want the same thing — to save money and have well-managed finances. But through research, it made clear that there are different motivations as to why users would want to achieve that goal. Building user persona gives us the advantage to elevate the contrast between those differences, allowing us to consider what the design solution should be and what they’re hoping to resolve.

User Persona to represent user target for Expensify
User Persona

Exploring what users think and do

Creating journey maps gives us insight into the thought behind users’ decision-making process, it also gives us a glimpse of the ride of emotions users felt throughout the completion of the process, from planning the expenses to reviewing them. Through this mapping, it gives a boost in knowing how the design solution should bring ease to their anxiousness.

Customer Journey Map to depict users’ thoughts and emotions while managing their finances
Customer Journey Map

Problems identified

  1. Users need a way to prioritize their needs in order to categorize their expenses.
  2. Users care about all the transactions they did, both online and offline.
  3. Users can go beyond their expected and planned budgets.
  4. Forgetting past transactions is a problem that occurs to users.
  5. Users have so little time and effort in keeping track of their expenses.

Solutions proposed

How might we…

  1. Guide users to categorize their expenses properly in order to save money as much as they can.
  2. Give access to users to keep track of their expenses with ease and without getting overwhelmed.
  3. Give warnings when they almost met their planned expenses limit.
  4. Stores and allows them access to see all their spending list.
  5. Motivate and give back to users in order for them to keep track of their expenses daily.

Users wanted a single tracking system that would assist them from start (planning their expenses) to finish (reviewing their expenses)

The site map below illustrates how the design prototype would address the key tasks identified, 1. Planning the expenses management, 2. Tracking the expenses, and 3. Reviewing expenses made. This site map will provide the guidelines for the design task flows.

The information architecture of Expensify consists of 3 main tasks 1. Planning the expenses, 2. Track expenses, and 3. Review
Information Architecture

Breaking down the main tasks

This task flow breaks down the entries and key tasks users need to accomplish their purpose and goal. Started with users planning the budget of expenses they’d want to manage, and inputting all the monthly expenses they made until the end of the month to see the report — all within only a few taps.

Task flow for Expensify to assist users to plan their finance to review them monthly
Task Flow

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