Global Wallet
Overview
The prompt for the project was to design an app to help global travelers find the currency exchange between 2 currencies and a way to quickly exchange them.
My solution: Global Wallet, a digital wallet app for travelers to transparently exchange currencies, and use money in multiple currencies. I decided to take it a step further to give users a way to instantly access and spend their funds around the world
Role: UX Researcher, UX/UI Designer
Time Constraint: 2 weeks
User Pain Points
1. Unable to accurately check exchange rates because online rates differ from provider rates.
2. High transaction fees at forex bureaus
3. Poor exchange rates are causing loss of up to 40% of money value when user converts unused money back to the initial currency.
User Needs
1. Quickly view and compare exchange rates
2. Easily buy currencies at good exchange rates
3. Ability to convert unused currencies back
Competitor Analysis
Revolut and Wise similarly both offer multi-currency accounts.
Wise
- User-friendly interface, low fees, real-time exchange rates, strong security.
- Weakness: Users complain that account set up and deposits take too long to happen (up to 14 days)
Revolut
- Strengths: Comprehensive financial services, rewards and cashback, multiple subscription tiers.
- Weaknesses: Overwhelming features for users seeking simplicity, not available in many countries
Global Wallet
- Simple and transparent interface focused on currency exchange transparency and easy spending.
- For users who prioritize straightforward currency management without the complexity of additional financial tools.
Wireframing
Inspired by various banking apps, I created the potential Information Architecture of the app then used 8 minutes to iterate ideas for the most key pages, iterating possible components to represent everything. My favorite features in each were carried into the low fidelity designs.
Low Fidelity Prototype Testing
This iterations was tested by 8 user who liked the overall layout options, however they had a hard time envisioning the product without colors and full text.
Below: High fidelity mockup
Results
When the final prototype was tested with the same users, they were asked to complete a currency exchange. This came intuitively to 7/8 of the users. One user struggled completing the swipe up to purchase function, failing to swipe all the way up and complete the transaction. This feature must be tested by more users but has been proven to work by Robinhood.
Key Take Aways
This project was a valuable learning experience where I honed my skills in Figma and applied key UX principles. The concept received positive feedback from users who expressed interest in its full development. If I had more time, I would iterate on the onboarding process, transaction sorting features (such as spending categories), and create a seamless method for adding the digital card to your phone wallet to solidify the concept.