PFM | Banco Galicia

Role: Product Designer

Type: Digital Design

Skills: Sketch

Brief

One of the first projects I was involved when I joined Banco Galicia was this new feature in which we would let users understand how they were spending their money. In a country with many economic crises and constant financial instability, we noticed people needed to have more control in their general expenditures. Also, high inflation in those years made people lose track of the real prices of things, so we created a tool to help our clients understand how they were spending their money.

I was the only designer in this project and worked with a product manager, a data analyst, and 4 developers in the team.

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Data Analysis

We did some exploratory interviews with users and analyzed different options and decided that we needed to classify customer's financial transactions. This was a extremely complicated task given the antiquated legacy core system the bank and the card-issuing companies had.

We started gathering all the information we had for each transaction from the card-issuing companies (VISA, MasterCard, and American Express).

We standardized the data and made rules to start to make sense out of the extensive tables of data huge tables. We used a field named Store-ID, present in each transaction, to match it with a company, and knowing that, we could match it with different category (Food, Bills, etc.)

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To test which categorization would be better for our users, we did several Tree Testings using a tool named Optimal Workshop. This tool allowed us to test how users would classify their transactions given a set of categories that we gave to them. We wanted to keep the number of categories small, because we did not want to create a heavy cognitive load at the time of understanding the overall picture.

When we had a good final idea of most categories, we tried them with real customer data, individualized and clustered, to be sure that the complete picture after a couple of days spending money would be distributed in a coherent and insightful way, at least, for users.

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With our initial results, we first attempted to integrate this information throughout all our products, attaching the classification to each transaction the user had. However, after showing our idea to our stakeholders we understood hat the bank's technical constraints would make it virtually impossible to create an integrated solution. We did not want to prevent our users from having this information, that we knew and had proven that it was valuable for them, so we decided to create a new section in the app that would show this insights.

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We then iterated our prototype to arrive to the first release of our PFM section, that was released in November 2018 both for iOS and Android platforms.

Flow

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Final Designs

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After we launched
6:10 users would return to this insights section in a month. From the people that used this section, 75% answered that it helped them change or improve their spending habits.