EduDays
Invest in your future
Helping parents and learners afford quality education through their day to day banking activities while educating the youth.
Concept Validation | 2019/20
MY ROLE:
Product Design lead
CHANNEL:
Nedbank Money App
DELIVERY
Agile Squad
PERIOD
2019/2020 (8 months)
THE BRIEF
Education in South African context remains one of our biggest social challenges. Quality education, affordability, access, skilled educators, technology and school safety are only a few of the pertinent challenges we as a country need to resolve.
……..
Design a solution for parents and those seeking to further their studies, promoting savings discipline & which helps fast track saving for education
For parents who want to save for their kid’s education but struggle, EduDays is a digital solution that provides education-based savings through every day spend. Unlike other financial institutions and FinTech’s, our product promotes a savings discipline by locking funds for education and leverages off Nedbank’s existing partner network to fast track saving for education.
// CATEGORIES FOR CONSIDERATION
SAVINGS & REWARDS (MVP)
Cashless Payments
Social
PARTNER CONTRIBUTIONS (MVP)
Integrated Platforms
Safety & Security
Ease of Use
KIDS EDUTECH (MVP)
Teacher EduTech
School Comms EduTech
GETTING STARTED
1
We defined steps to success
Through a collaborative effort, the team unpacked business needs, potential channels, hypothesised customer pain points and put a high-level delivery plan together
2
We then determine responsibilities
I formed part of a triad of accountability managing all Design aspects. Decisions were made in relation to our Engineering Lead (Tech) and Product Owner (Business)
3
Began building our squad
Initially I worked on Design Strategy and visual solutions independently and pulled in support from CX where required. Over time I was granted a UX designer and UI
{TO Clear any confusion}
We DEFINED A PROBLEM STATEMENT
“As a parent, getting my child a quality education is important, but managing it financially is challenging“.
And unpacked it using Brainstorming techniques
I led the workshops and maintained all documentation and ideation spaces
Miro was our go-to collaboration tool
PAIN POINTS
From client to tech to business case drivers, a holistic view was derived
PARTNER INTEGRATIONS
We unpacked existing partners & approached external providers
EARN & BURN OPTIONS
In-house solutions for money management and growth
REWARDS MECHANISMS
For short and long term saving based on Nedbank’s product usage
Easy to use | Easy to earn | Easy to access funds
The concept ran similarly to My School Card but would restructure the funds generated through spend in a tiered manner and store the value in an investment portfolio of the clients choice.
To gain critical mass, Nedbank would use its’ partner network to drive awareness through retail outlets and within their existing customer base, particularly aimed at parents.
” It was clear that parents desired help and support to boost their savings through rewards and 3rd party support, but any amounts generated should be available for education only as they did not trust their own spending habits “
CUSTOMER DESIRABILITY
Create Goals
- Ranked 3rd out of 10 tested concepts behind free banking and reduced rates
- 6.2m market size in the middle market of which 55% have children and 673k found the product appealing. They would likely take up the product
- Customer feedback positive and they see it as a long term savings mechanism
- 68% of customers believe education is a cause which deserves support
- 74% are looking at furthering studies for themselves
- 46% worry about the future of their children and their main hindrance is the price of education
- Based on Kantar research we require an initiative which creates brand trust and brand identity
- PRODUCT APPEAL 69%
- PROBABLE TAKE UP 20%
- BRANC IMPACT 27%
- SUCCESS FACTOR 39%
South African families often rely on community based initiatives to thrive. This is particularly prevalent when it comes to education. Based on our client feedback, we soon understood the need for collaborative savings mechanisms in which aunty and uncle were just as much a part of the child’s education plan as mom and dad.
We proposed allowing parents to grow and manage their contributor team with specific funds accessible for rainy days and others locked in for education to avoid poor spending habits
Where parents struggled to save independently, we
Boosted their ability to Earn through crowdfunding
SAVE MORE
Receive Tips, Tricks and Rewards Challenges to help boost your savings
- Pay Lump Sum contribution from your acc to your education savings
- Scheduled payments (save monthly for education)
- Convert Greenbacks for Education
EARN MORE
Easy ways to help you earn more rewards points (GreenBacks) and maximise your savings
- Maximize Greenback earnings -E.g. usage of American Express = x5 points
- Earn from monthly shopping
- Earn points from Partners (Petrol, Debit Orders, etc.)
SHARE MORE
Assist those around you. South African’s all need a helping hand through education
- Sponsor an education fund
- Donate to a charity
- Be part of a social movement for education
- Be recognised for doing good
BUILD MORE
Link your family and friends to help grow your education fund faster through shared savings
- Crowdfunding from Nedbank Partners who may sponsor you (Food, Petrol, etc.)
- Crowdfunding from family/friends
- Partner schools
- Bursaries, Offers, Discounts and Competitions
Wireframes soon became prototypes for Android and IOS with the following Sections covered:
Notifications
Dashboards
Fund account
Redeem
Rewards
Crowdfund
SEVERAL ROUNDS OF ITERATION OCCURRED TOGETHER WITH STAKEHOLDER REVIEWS
My responsibility was on Design Validation and crafting a solution that met Client & Business needs
I maintained strategic direction for all design related tasks, impact assessments and validation
Presentation Packs for each forum
Roadmaps for Delivery – MVP & Beyond
FINAL RESULT
Design & Tech received approval status
However, the project did not receive execution budget as the retention strategy did not meet Nedbank’s business requirement for growth.