What is Finn by Chase?
Chase sought to create a digital banking experience that addressed the needs of the next generation starting their financial journey...
Millennials.
The product consists of a Checking & Savings account, no fees or overdraft, fully serviced with support & free ATM access.
Finn provides better clarity into spending by reflecting spending behaviors & patterns, as well as helping you save incrementally over time.
What we set out to do
Capture a generational audience
It was essential to be authentic in order to create a lasting, trusted relationship with users. Our strategy was to capture this audience early in their financial journey, to eventually have them become Chase customers for life.
Compete with start-up banks
In banking, young people are underserved and undervalued. Digital & start up banks are re-inventing their products to address these unmet needs. This project was an offensive move to compete in that space.
Innovate & set a new precedent
To succeed, this project had to be user centric and customer focused to truly be innovative. This project set the precedent for the way the Chasee organization would build future products.
We traveled across the U.S. to get to know Millennials
Research Insights
The Struggle is Real
We found that at this point in their lives, Millennials are going through real struggles beyond money. Some have gone through traumatic life events, they're starting to identify who they are, they're supporting themselves and are all in the process of "figuring it out".
High Self Expectations
There's a lot of pressure for Millennials to know what the right decisions are without having any knowledge or anyone to guide them in the financial spectrum. It can feel very overwhelming, but they are optimistic for the future and know they'll make it through to get to the place they want to be in their lives.
Financially Stable = Happier You
Our big take-away was that most are unsure what they should do with their finances or are completely unaware how to start out. As a result they try multiple tools and apps to address their unmet needs.
Ultimately, being in a financial good place positively influences life goals, opportunities, and provides the freedom to accomplish what they want in life now and in the future.
Principles to Influence Design
Concepting the Differentiator
Seeing spending in a new way
Emotions & Necessity
What we found and validated in user research is that finances are emotional; spending can be emotional. They range not just in the binary of positive and negative but certain things are neutral and don't elicit any emotion at all; they just are what they are. But it's not just emotional; there's also a view of necessity, "Did I need it or did I want it."
Reflecting spending behaviors
Spending Data
The biggest challenge was finding what combination of data provided the most value and insight into your spending. We designed some data visualizations to give them a picture of their habits to compare over time.
Incremental Saving
Out of sight, out of mind
Saving can be daunting, especially when there's no money left over to save after bills and expenses. We created a way to trigger small incremental amounts to be moved to Savings that builds up over time. Users can create rules based off their spending habits, time, when a pay check comes in, how they feel, or if they've overspent."
The Result
