Cake
Cake
A crowdfunding based 529 savings account to make investing for college easy.
A crowdfunding based 529 savings account to make investing for college easy.
Role
UI/UX Designer
Project Scope
10 Weeks, Mobile App
Tools Used
Figma, Illustrator, Photoshop
Role
UI/UX Designer
Project Scope
10 Weeks, Mobile App
Tools Used
Figma, Illustrator, Photoshop
Role
UI/UX Designer
Project Scope
10 Weeks, Mobile App
Tools Used
Figma, Illustrator, Photoshop
Project Brief
For my UX Design class Spring 2020 at the University of Colorado Boulder, we were tasked with coming up with an app (mobile or desktop) that solved a problem. We then had to conduct generative research, create prototypes, then draft a final solution. I came about my problem when my nephew was born. Buying clothes or toys for him felt pointless, as they would only be part of his life for a short amount of time. My sister and I instead wanted to create a college investment account for him (529 savings account). This way, every birthday and holiday we could contribute to it. We could not figure out how to set one up or where to do it, and for options already available, there was no way for people to regularly contribute to it who weren't the primary account holder. My solution for this problem became Cake. The crowdfunding college savings account that makes saving for college easy as cake for parents.
The question for solving became:
How might we develop a simple to use college investing platform for parents, that they can share on social platforms for others to contribute to?
For my UX Design class Spring 2020 at the University of Colorado Boulder, we were tasked with coming up with an app (mobile or desktop) that solved a problem. We then had to conduct generative research, create prototypes, then draft a final solution. I came about my problem when my nephew was born. Buying clothes or toys for him felt pointless, as they would only be part of his life for a short amount of time. My sister and I instead wanted to create a college investment account for him (529 savings account). This way, every birthday and holiday we could contribute to it. We could not figure out how to set one up or where to do it, and for options already available, there was no way for people to regularly contribute to it who weren't the primary account holder. My solution for this problem became Cake. The crowdfunding college savings account that makes saving for college easy as cake for parents.
The question for solving became:
How might we develop a simple to use college investing platform for parents, that they can share on social platforms for others to contribute to?
Click on the screen below to use the final prototype!
Click on the screen below to use the final prototype!
Problem Statement
There is a problem with 529 savings accounts regarding accessibility for parents, and for people wanting to contribute to them.
There is a problem with 529 savings accounts regarding accessibility for parents, and for people wanting to contribute to them.
User Research Methods
Phone and face to face interviews with stakeholders (parents, older family members of children, and friends of parents). Insights from each interview were then written on a sticky note and affinity mapped to find common themes between the interviews.
Phone and face to face interviews with stakeholders (parents, older family members of children, and friends of parents). Insights from each interview were then written on a sticky note and affinity mapped to find common themes between the interviews.
Interview Insights
People will only use a platform if it is well known, trustworthy, and reliable
People feel less inclined to gift material objects to children because they believe they will grow out of it or loose interest
People feel like would be leaving an impact by donating to a child's college savings account.
Interview Insights
People will only use a platform if it is well known, trustworthy, and reliable
People feel less inclined to gift material objects to children because they believe they will grow out of it or loose interest
People feel like would be leaving an impact by donating to a child's college savings account.
Research: Competitive Analysis
Research: Competitive Analysis
I wanted to get a feeling of solutions already exist in relation to my problem statement so I completed a competitive analysis. For the crowdfunding piece of my app, GoFundMe is a dominant force in this realm due to its ability to easily be shared across social media, and users trust it. For the investing aspect, Acorns is a very popular app that makes investing simple for users but does not include the social and sharing aspects I am looking for (or the ability to set up accounts specifically for a child's college savings). Another stakeholder in the conversation are traditional banking institutions. Banks were the best investment vehicle, but lacked the accessibility and social aspect I am looking for.
I wanted to get a feeling of solutions already exist in relation to my problem statement so I completed a competitive analysis. For the crowdfunding piece of my app, GoFundMe is a dominant force in this realm due to its ability to easily be shared across social media, and users trust it. For the investing aspect, Acorns is a very popular app that makes investing simple for users but does not include the social and sharing aspects I am looking for (or the ability to set up accounts specifically for a child's college savings). Another stakeholder in the conversation are traditional banking institutions. Banks were the best investment vehicle, but lacked the accessibility and social aspect I am looking for.
User Flows and Prototypes
To help begin crafting a solution, I created a user flow that would outline a users general journey through the app. This helped me identify what features users would need in a solution. I then started designing some general solutions in low fidelity wireframes. I created general screens for key features like signing in, investment balance, investing strategy, and deposit information.
To help begin crafting a solution, I created a user flow that would outline a users general journey through the app. This helped me identify what features users would need in a solution. I then started designing some general solutions in low fidelity wireframes. I created general screens for key features like signing in, investment balance, investing strategy, and deposit information.
Hi-Fidelity Prototype and Solution
For my final solution, I developed a process that allows users to explore all features of the app with a high level of fidelity. This was a meticulous process since since the prototype does not have a defined flow (users can explore wherever they'd like). Also, planning and creating animations can take a great deal of time, but I found them important in retaining users attention while exploring the app.
For my final solution, I developed a process that allows users to explore all features of the app with a high level of fidelity. This was a meticulous process since since the prototype does not have a defined flow (users can explore wherever they'd like). Also, planning and creating animations can take a great deal of time, but I found them important in retaining users attention while exploring the app.
Next Steps and Development Considerations
I used the Adobe XD developer tool to present the designs for development pass-off. Using this tool, Front-End Developers can get all the CSS styles and elements needed for the app. From the assets created, they are given fonts, text styles, color styles, and margins/paddings/dimensions for all buttons and inputs. This streamlines the process for Designers and Developers to collaborate during the design stage, for a smooth deployment to development. During development, developers can reference the prototype as needed. Feel free to check out the tool below.
I used the Adobe XD developer tool to present the designs for development pass-off. Using this tool, Front-End Developers can get all the CSS styles and elements needed for the app. From the assets created, they are given fonts, text styles, color styles, and margins/paddings/dimensions for all buttons and inputs. This streamlines the process for Designers and Developers to collaborate during the design stage, for a smooth deployment to development. During development, developers can reference the prototype as needed. Feel free to check out the tool below.