P005 → VANCITY MY CREDIT


MyCredit is a mobile app for Vancity members designed to support financial well-being by helping users manage credit, set credit-building goals, and track credit habits to reduce anxiety around credit scores.



Project Overview


MyCredit is a companion mobile application for Vancity members to manage their credit and set goals that encourage credit building, to better support their financial well-being. The aim is to ease financial anxieties related to credit scores and help members track credit habits.

Team Members: Elena Hsu, Elizabeth Lo, Macguire Rintoul, Isabelle Soares, Jordan Yep
My Roles: Experience Design, Interface Design, Wireframing, Video-production
Duration: 4 week project for a senior design course
Tools: Sketch, Keynote, Adobe Creative Suite

Awards and Recognition 


Honourable Mention for the 2019 RGD Student Award for Strategic Design
Selected to present at the 2019 SFU FCAT Undergraduate Conference




Business Problem

Credit score might be the most important number in your personal finance, however, a study done by BMO showed that an estimated 56% of Canadians have never checked their credit score and 31% don’t know how to improve their score.

Opportunity

"With 250,000 of them – close to half of our members – interacting with us almost entirely online or via our mobile app, we’re under pressure to deliver even more mobile and digital functionality." — Vancity 2017 Annual Report

Vancity's current credit experience is buried in four different pages on their website, creating difficulty for members to find the information they need in one place. Additionally, existing mobile app has yet to provide resources for credit management. Part of the problem relates to misconceptions around credit scores — we found that scattered resources around the web led to a fear of checking scores and an overall low-importance about scores in general.

Solution

Our solution focuses on how Vancity, as a credit union, can encourage their members to set goals for their credit and provide guidance by providing the tools they need to reach their goals.






Onboarding/Multiple Accounts



Onboarding helps people to get to know the app and at the same time learn helpful information about credit. Additionally, members can link credit accounts from other financial institutions via MX Technologies to be able to see how their accounts influence their score.


Notifications



Because everyone manages their finances differently, members have an option to link credit accounts from other financial institutions and keep track of important updates. MyCredit recommends actions specific to each member’s habits rather than providing generic information.


Learn/Credit Explained



Learn tab explains the most important parts of credit, and shows members how their credit score is being influenced by their activity.


Goals/Actionable Tips



Curated information helps members reach their goal by giving them clear, achievable steps within a reasonable timeframe.


Celebration



Celebrating accomplishments and recognizing members for their efforts encourages them along their credit building journey.