ITI - ITAÚ UNIBANCO
2022
SENIOR PRODUCT DESIGNER
Itaú PRAD Award
OPEN FINANCE
OVERVIEW
Our project addressed the financial literacy gap among low-income young Brazilians using Open Finance. By tackling the taboo surrounding money, we aimed to empower individuals and foster a positive relationship with finances. Our innovative approach aimed to make a lasting impact and promote financial competence among our target audience.
RESEARCH
Our research delved into the profound emotional relationship Brazilians have with money, employing diverse methods like interviews and surveys, both qualitatives and quantitatives.
We uncovered a taboo status surrounding money influenced by cultural and social factors, despite Brazil's wealth. Enduring crises and widespread poverty have perpetuated significant social inequality, while a lack of financial education disregards the emotional aspects of finances in unequal societies.
Created on Midjourney // Generative AI // Stable Diffusion
Created on Midjourney // Generative AI // Stable Diffusion
Family plays a pivotal role in shaping Brazilians' money dynamics, but historical struggles in financial management perpetuate the intergenerational taboo. Brazilians experience various emotional responses to money, including fear, guilt, shame, and temptation driven by consumerism.
Alarming statistics emerged from our research, revealing that only 12% of Brazilians understand charts and graphs with more than two variables. These figures drop to 8% among the black population and 5% among homemakers, highlighting significant challenges in financial literacy and comprehension of complex financial data among different segments of the population.
The COVID-19 pandemic has reshaped how Brazilians approach their finances. Basic needs were compromised for many, sparking a shift in the money discourse. New voices, like Nath Finanças, address themes of inequality and poverty with humor, fostering an empowered and hopeful mindset. Local communities provide spaces for learning and discussing money, challenging stereotypes.
"This movement has put us on an emancipation journey. But we must remember that this emancipation isn't for everybody yet."
CLUSTERS
Using a Box1824 research as a reference, we can understand the four primary behavioral profiles that define Brazilians' financial consciousness.
ALIENATED
Ignoring the impact of money, lacking financial knowledge, and prone to debt. Represents 5% of Brazilians, 9% in DE social classes, and 3% in AB social classes.
BOTHERED
Acknowledging money as a problem but uncertain about solutions. Represents 28% of Brazilians, 39% in DE social classes, and 13% in AB social classes.
MOTIVATED
Developing intimacy with money, reframing its role, and fostering a confident financial relationship. Represents 48% of Brazilians, 43% in DE social classes, and 51% in AB social classes.
PLENARY
Breaking taboos, fostering a long-term financial relationship, and planning for the future. Represents 19% of Brazilians, 9% in DE social classes, and 34% in AB social classes.
We have chosen to focus on the Motivated archetype, and through quantitative research, we discovered that they comprise 39% of our target audience.
Importantly, they possess the drive to cultivate a healthier financial relationship, thereby reducing the need for extensive selling efforts strategically.
IDEATION
During the ideation process, we conducted a workshop called "Thinking Hats" with diverse stakeholders. Each participant assumed a different hat, fostering discussion from multiple perspectives.
The prototypes generated by each group provided invaluable insights into developing a logical, emotionally resonant, and innovative user experience.
- Emotional Hat: Addressing negative emotions and considering the audience's emotional context.
- Logical Hat: Delivering a user experience that meets audience needs and follows a systematic approach.
- Out-of-the-Box Hat: Encouraging creativity and exploring unconventional approaches. The prototypes generated valuable insights for developing a resonant and innovative user experience.
DESIGN
During the design development phase, we defined our core design principles: refuge, trust, personalization, and low complexity.
Leveraging our established Design System, our concepts evolved through iterations, incorporating valuable feedback from the design team. Annotated user flows, experience maps, and mockups were instrumental in showcasing our problem-solving abilities and highlighting the design's progression.
Our primary objective was to create a user-friendly interface that provides actionable insights and simplifies financial information. Accessibility was a top priority, ensuring avoidance of complex charts, spreadsheets, and excessive reliance on mathematical approaches.
OPEN FINANCE BALLANCE
In Brazil, managing multiple bank accounts hinders a clear understanding of one's financial status. To tackle this, our first opportunity leverages Open Finance to provide users with effortless and instant access to their available funds through a simplified and intuitive consultation process.
WELCOME
Presenting the feature and value proposition with a friendly and visually appealing design upon initial access.
EMPTY STATE
Unveiling a experience for individuals without any linked accounts through Open Finance, inviting them to seamlessly integrate data from other financial institutions and unlock the full potential of our feature.
FEEDBACKS
Continuous learning from user interactions is always paramount. To achieve this, we have implemented a feedback experience linked to user emotions, enabling us to gain invaluable insights into their sentiments and perceptions of our solution.
TESTING
We conducted SUM usability testing to validate design decisions, collecting and analyzing user feedback to refine the design and ensure a seamless user experience. The testing process helped validate the solution's effectiveness in addressing the financial needs of our target audience.
OUTCOMES
The final solution had a positive impact on users and business goals, providing real-time access to balances and empowering low-income young Brazilians to improve financial literacy and develop a positive relationship with money.
80%
of users accessing the feature more than twice a week.
70%
Potential target users utilizing the feature.
65%
of the feature's users with more than one linked account through Open Finance.
High-performance compensation program
2022
"Itau upgrades iti to anticipate Open Finance in Brazil"
The Paypers
"Itaú e Iti dão prévia de open banking com saldo unificado no app"
Terra
"Iti, do Itaú, se antecipa ao Open Finance e lança ‘agregador de saldos"
Finsiders
"iti Itaú antecipa experiência do Open Finance em nova funcionalidade"
Decision Report
"Como ver seu saldo da conta Itaú no app Iti"
Tecnoblog
Mariana cantini
Strategy. Responsible for Research and Testing Plan, Product Discovery, Product Design, and Workshops.
GUSTAVO RICCI
Strategy and
Product Management
Jovan fernandes
Strategy and
Technical Leadership
ADEMIR MELIM
Agile and
Team Lead
CAMILA BARCELAR
Strategy and
Research
LEO FANTACONE
PO
MArcela Braga
QA
erika M.
Dev Android
DANILO FERREIRA
QA
Emannuel carvalho
Dev iOS
KAIO VIESI
BackEnd
Rapha Matrone
Dev iOS
fabrizio almeida
Dev Android
VITOR ALMEIDA
Suporte UI
joyce arruda
UX Writing
raísa benito
Ilustrações
matheus bueno
Spec. Visual
Alan kenji
Motion
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