Teaching Kids the Art of Finances
One of the most exciting startups in the financial space, GravyStack is tackling the gap between what kids know about finances and what they SHOULD know about them, all while keeping parents in the loop and using Gamification to keep it fun and engaging for the kids.
Tackling a tough subject with an even tougher demographic!
Teaching Kids When They Don't Know They Are Being Taught
GravyStack had to focus on many unique challenges:
- How do you keep kids engaged on the subject of finances?
- How do you teach them the lifeskills that will make their financial success easier?
- How do you win-over the parents to trust you with not only their kids, but also their money?
- In a world of constant change and instant gratification, what helps kids stay focused on the important things?
We started out thinking this would be a much smoother sell than it turned out to be. One thing that was immediately presented to us was that you were talking about kids and money, and we would need to show the parents WHY we mattered and HOW we were more than just a game.
Research was pivotal on this project since every turn had to be balanced between the regulatory constraints of a bank, the financial needs of the business itself, the protectiveness of the parents, and the almost constant fight for the attention of the kids.
In the end, the project was heavily researched and gamified to give meaning to the lessons and direct the kids along a path of learning that felt more like playing. We won over the trust of the parents by leveraging reknowned financial experts to create the content and granting them full insight (even though it wasn't control) into what their kids were doing, with/for whom and why.
The UX Highlights of the Project
Multiple Rounds of Research
Research involved balancing the needs of four unique demographics: The Buisness, The Parents, The Kids and The Banking Industry itself.
Heavy Gamification was Needed
At every turn we were trying to leverage gamification techniques while keeping our eyes on the core mission of teaching financial education to kids.
Building From the Ground Up
While there may have been some competition in this space, there was truly nothing quite like GravyStack. We weren't just going to be a kid-friendly banking app, we were going to TEACH them something they really didn't know they wanted to learn.
Iterate, Iterate, Iterate, then Iterate It Again...
While every product and service has it's iterations, this one was particularly fluid and went through more design and usability iterations than any one project I've ever been on. It was always movement forward, but the complexity of balancing so many groups led to a unique and fun challenge.
A Home Run
While the project had it's ups and downs, we were able to knock it out of the park with a product that appealed to both Parents and Kids in the Beta testing as well as kept the Financial Regulation requirements we need to be successful.
Rough Designs
These are some of the rough designs we leveraged on the project.
Iteration 1
We started with some rather sterile boards to get a feel for what we needed/wanted in the app.
Iteration 2
We went more developed with this version, but kept it easy to iterate as more user feedback came along.
Iteration 3
As we found out more about user wants and needs we were able to tailor the experience to them.