Emilie Thaler, Liz Allen, Sean Patch, Christopher Peterson, Nicole Markwick, Hannah Howard, Tim Grunshaw, Harini Krishnamurthy
Duration: One Weekend
My Role: User Research, Personas, Journey Map, Branding, Screen Design, Prototyping
Millennials are not investing nearly as much as previous generations and banks are struggling to get them to change. There is an overall lack of knowledge about investment and millennials especially do not know where to turn, how to start, or how to continue.
Bindle is an easily-accessible, third-party web resource for millennials to make investments that align with their values ("cause-driven investments"). Bindle uses a matching system where users can input their information to find the investments that are right for them. Users can overcome knowledge barriers about how to invest and demystify legal jargon. The user data that Bindle collects is distributed to fund providers to ideally gear them toward supporting more investments that their users prefer.
There are 63 million millennials in the United States. They represent $1 trillion worth of money that they could invest, however only 1 in 3 are investing. We asked millennials on the streets of Capitol Hill and conducted an online survey to learn more about why they do or don’t invest.
Our responses came back with similar conclusions to reports about millennials investing: Millennials have a lack of trust toward financial institutions, there is an overall lack of knowledge about investment, they prefer to be self-directed and tend to be less trustful of advisors. However, there is an increasing interest among them in investments with social responsibility.
This project involved rapidly building an MVP and pitching it to a panel of judges over the course of one weekend. One of the challenges was being able to simplify and translate the subject of investing for our users, while being a user who knows very little about investing myself. The process involved a lot of on-the-spot learning and working with other team member’s knowledge on the subject.
Friday Evening: Selecting a Team
Saturday AM: User Research, Survey, Collecting and Reviewing Data
Saturday PM: Wireframe & Branding
Sunday AM: Designing & Prototyping
Sunday PM: Pitching in front of Judges