Overview

IDFC FIRST Bank wanted to create an app to help children aged 11 – 16 learn important money lessons.

Schools barely teach children anything about money or how to manage finances. Many parents also lack the knowledge to provide such guidance at home.

The idea was to build an app that engages kids through gamification and eventually roll it out via the schools.

Client's idea

Leeza brings in a lot of freshness and innovation to any project given to her. I had the opportunity to work with her on a niche digital intervention. Not only did she bring in her thoughts to make the outcome better but also developed a board game out of thin air that blew our minds completely.

Transformation Lead, IDFC FIRST Bank

★★★★★

The Problem

Lack of early financial education negatively impacts children’s futures; Catch them young.

Young people are often unprepared to manage finances, missing key opportunities to build strong financial habits early on. In the post-Covid era, banks, financial platforms, and experts have hosted virtual events to educate consumers on investment tools and corpus building.

However, not much of this is directed towards children.

Research findings

The Constraints

Compete with devices and games to make children learn

Content must be personalised basis the child's proficiency level

App must cater to the bragging needs of parents

What it Revealed

• None of the Indian banks leverage YouTube to create content around finance and banking

• NBFCs build existing apps but lack the trust and credibility that banks hold with consumers; IDFC FIRST would be one of the first banks to bridge this gap by offering a reliable financial education platform for children.

• Financial literacy is essential for all age groups and socio-economic classes today.

Benchmarking

Competitor Benchmarking

Secondary research on existing platforms

Target audience for the POC

The Strategy

1. Keep it hyper-simple

4. Facilitate social interaction

3. Gamify the experience

2. Keep it visual

5. Don't treat them like kids

Introducing Fili

Why we named it 'Fili'?

A portmanteau for 'Financial Learning' - our animated mascot would be omniscient and encouraging.

We had to strike a balance between being cute, gender-neutral and AI-esque while not seeming overly kiddish because we know teenagers hate that.

The palette choice was inspired by teen favourite Spotify and neon hues that would lend visual pop to the screen. We used pop art-style illustrations to make it fun.

Mascot & Currency Explorations

Concept exploration... The winner was concepts B+C

Initial Concepts

Concept A - Sequential Learning

• Structured curriculum

• Progressive disclosure of content

• Clear progress path

Concept B - Non-sequential Learning

• Aligned with the OTT mental model

• Flexible learning

• High discoverability of content

Concept C - Simulated Learning

• Demo bank environment

• Learning made invisible

• Interaction driven

Prototype of the Solution

Board Game Design

We stepped away from screens to craft something tactile, sparking unexpected delight.

The look on the face of the client team, when we presented them with the board game, was priceless – accompanied by a child-like squeal of excitement.

We took inspiration from one of the world’s oldest games – Snakes and Ladders and designed our game around a similar model. We added cards containing risks, chances, challenges, and interplay. We also printed currency.

Project Impact

Biggest Learning

Next Time

This Proof of Concept led to the company securing the full design project for the financial learning app. Although the visual direction evolved post-POC, our concept successfully set the foundation for the app's design. The app is yet to go live.

Designing a board game taught me how complex yet exhilarating the process can be. I also witnessed firsthand the impact of creating 'unreasonable delight' for a client. This unexpected effort will leave a lasting impression, ensuring we are never forgotten.

I would persuade the client to look beyond personal preferences and prioritize user testing. The CEO's dislike for the colour green and board games dampened enthusiasm to take this design forward.