Student Project: Silk Financial Tracking

ID, UI/UX Design

The Problem

As financial decision-making becomes more complex, financial literacy is becoming even more important while few are actually prepared. The objective of this research is to find out why people lack this knowledge and how they react to current methods that encourage healthy spending and saving habits.

Moving into a rapidly changing digital-age, it is even more important now to find how different balances and budgets can be grouped, tracked, and customized in a way that really resonates with the user.

KEY INSIGHTS:

1) Seeing all varying balances and transactions in one place should be prioritized.

2) The product itself should be a reminder to the user. Forgetting and putting off checking finances is a primary issue in this case.

3) Convenience and ease of use should be emphasized so it can integrate easily into already busy lifestyles.

4) Existing market lacks customization + personalization. There also is no product yet that links a physical interface with a digital one.

5) Having financial information stored in one place is a security risk. Measures should be taken to ensure privacy.

The Solution

Silk is a financial tool that combines all your cards into one to simplify the experience of creating and tracking balances + budgets, and overall keeping financial health in check. The integrated app grants complete personalization so that budgets can be tailored to the users exact needs, and transactions from each card can all be tracked in one place. The physical card uses location tracking to show relevant information on the seven-segment display and the touchpad allows the user to switch between their desired cards. Silk is secured by a fingerprint scanner featured on the physical card.