For my Online Banking app my idea is to crate a bank to help University and Higher Education students manage their student loans.
The problem for me, family and friends which I have discussed with them is when looking at your online bank you may forget how much money in your balance is actually student loan and how much money you actually ‘own’ in your savings. With my online banking app, when my student fiance and loan come in they are both titled ‘Bank Giro Credit’ which I am unaware of how what is finance and what is the loan without without checking paperwork or other online services.
I think it would be much simpler for a online bank to tell the user how much exactly their loan stands at so people are reminded and aware of this, as even sometimes looking at my bank I may forget I have to pay so much back. Doing this would help with money awareness, money saving as well as preventing ‘overspending’ money which could lead to debt problems further down the line. I also plan for my online bank to help students pay back loans smartly.
To test my idea I created a google forms document to send to friends, family and family friends who all fall into the criteria. In my forms I asked quite open questions such as “Are there any other features you would like in a bank app?” and more specific questions about my idea such as “Would you appreciate your banking app to separate your savings from your loans? (This would display the total of your loans in its own section)”. I thought it was important to include questions directly tied to my idea however I made sure I wrote these questions in a way that the user would not be pressured into selecting a certain answer. At the end I also wrote a more detailed question asking “Do you like the idea of a online bank brand specifically built for University & Higher Education students to make the user financially aware? (For example displaying how much money in your account comes from loans & to help students spend smartly).” just to know if my idea is appealing to the target audience or not.
