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T h e m a t i c //
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‘Cloud Computing’               0 101 1010 01010 1101 00010 0100 0
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                                                                                         What Cloud Computing?
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The capabilities of cloud computing in the future:
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 increased remote access

remote hardware, so lesser need for high powered personal computers
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huge remote storage space                                                          101 1010 10101 0010 11101 101
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For human experience this now means:                                                 010 1010 01010 0010 01011 0
the cloud can process huge amounts of information on you                              010 0101 10101 0101 10010
it can sense and remember things for you                                                101 1010 10101 1010 01010
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it has the ability to grow as you grow, getting to know you and you habits


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Money Today, Money Tomorrow


Cloud computing is            As we move away from        “It is likely that there will be
a technology that is          physical money towards      few people
beginning to influence our    a cashless society, what    outside the reach of wireless
everyday lifes. With 24hr     will this begin to look     communications by
internet access, virtually    and feel like? How will     2020”
anywhere, coupled with an     we understand our own       *Scenarios for Branchless
                                                          Banking in 2020
unprecedented processing      money, pay for things and
power, its influence on the   experience the financial
financial industries and      world by 2020?
the individual leaves huge
opportunity for new user
experiences.




                                                                                                     ?
Finances in the Cloud


Currently, we are seeing
the introduction of money
management systems, centred
around the iphone and online
platforms. These systems
gather your financial data - bank
accounts, card transactions etc -
into one place and allow users to
access on the go.

What they do not do is provide
a place to experiment and
learn about your money. They
do not give a user a sense of
nurturing their own personal
financial knowledge and grow an
understanding of their own money
as they themselves grow older.
Users need tailored assistance
from a system that knows their
behaviour.
Future Financial Behaviour




                                  “ the n um b e r o f f ul l t i m e ,                   “ Mo re serv ic es =              “ t h e a v er a g e B r it is h h o us eh o ld h a s
“only 10%of transactions          ‘perm a n en t ’ e m p l o y ee s i s p red i ct e d    m o re t ra n s a c t io n s ;    1 4 r eg u la r f in a n c ia l c o m m it men t s ,
in t h e U S will be cash by      to decl i n e a s t he ra n k s o f co n t ra ct        i n co m e s, DD s , SO s ,       a ll o f w h ic h r eq u ir e p a y men t by
t h e ye a r 2020”                wo rke rs i n cre a se”
* AC N i e l s en                                                                         sub scri p t i o n s . . . ”      dir ec t debit o r s t a n din g o r der ”
                                  Of f ic e o f t h e F urt ure 2020                                                        *goodwebguide (2003)




H o w w i l l we               Multiple jobs and changing careers                        Invisible m o n ey                  The re a re a hu ge n u mb e r
e x p e r ie n c e money       mean money from different places                          transfers m a ke i t e a s ie r,    of mon ey t ra n s fe rs t ha t
if p h ys i c a l cas h is     at different times; how will this be                      but more in t a n gib l e , t o     a r e v e r y ha r d t o ke e p t r a c k
har d er t o c o m e by?       exp er ie nc e this?                                      spend mon ey                        of a n d u n de rs t a n d
Future Industry Trends


I visited the Chartered
Institute of Bankers in
Scotland (CIOBS) and
gained some valuable
insights into the future of
banking, from a industry
point-of-view.

This ‘live’ illustration,
drawn during a discussion
with leading financial
figures, predicts a massive
shift towards generating
relationships based on
satisfying the customer’s
financial need at key times
in their lives.
*Shaping the future if banking:           ‘Dynamic portfolios’:         c. 2020
A ten year vision
                                      money management tools        ‘Aggregate financial services’:       ‘Customer life cycles’:
                                        that begin to know you;       accessing all your money and        building and sustaining
                                  personalised and intelligent to        assests from anywhere at     valuable relationships with
                                            each individual need                           anytime     customers over entire life
                                                                                                                           spans
Future User Groups


                      8 DDs/SOs/Subscriptions

                                                                     Teenager/Student
               rent                                                  managing money for the first time
                                                lifestyle spending
                                                                     Many young people start out their
                                                                     financial life with no idea of how to
                                                                     manage money, be it simple budgeting
                                                                     or developing their savings accounts
student loan                                         part-time job   for the future.

                                                                     User Need: a service that allows young
                                                                     users to manage, learn and develop an
                                                                     understanding of their own personal
                                                                     financial situations, from day one.
    tuition fund


                            1 account
Future User Groups


                             18 DDs/SOs/Subscriptions

pensions                                            lifestyle spending   Young Couple
                                                                         multiple jobs, on the property ladder

                                                                         Young couples find themselves having
2 accounts                                                2 accounts     to deal with a new way of managing
                                                                         not only their own money but their
                                                                         partners too. Multiple accounts,
2 jobs                                                      3 jobs       lifestyle balancing and preparing for
                                                                         the future are key considerations in
                                                                         their financial world.

                                                          savings        User Need: a service that allows
      ISAs                                                               couples to play with future financial
                                                                         scenarios to gain insights and make
                                                                         informed decisions, while also being
                     loans                         mortgage              able to manage their day-to-day
                                                                         finances.
                                 1 joint account
     joint account
Future User Groups


                              24 DDs/SOs/Subscriptions

           pensions                                      children, education       Middle-aged
                                                                                   still working, pension planning,
                                                                                   multiple savings

part-time job                                                   late retirement
                                                                 (still working)   With people working longer it is
                                                                                   important for older users to keep up
                                                                                   with the progress of their pensions and
  loans paid back                                                   holidays       other savings, and plan carefully for
                                                                                   their retirement. With similar needs
                                                                                   to the younger users, the older user is
                                                                                   keen to balance commitments with a
                                                                                   fruitful lifestyle.
                    ISAs                                        savings
                                                                                   User Need: a service that allows older
                                                                                   users to plan effectively for retirement,
                           shares                         mortgage(s)              view and play with the possible uses of
                                                                                   their money, and above all enjoy life in
                                      3 joint accounts                             ‘the silver- age’.
    joint account
Customer Lifecycle


                      8 DDs/SOs/Subscriptions                                             18 DDs/SOs/Subscriptions                                            24 DDs/SOs/Subscriptions

                                                                     pensions                                    lifestyle spending           pensions                                   children, education

               rent                             lifestyle spending

                                                                     2 accounts                                        2 accounts     part-time job                                             late retirement
                                                                                                                                                                                                 (still working)




student loan                                         part-time job   2 jobs                                              3 jobs         loans paid back                                             holidays


                                                                                                                       savings                      ISAs                                        savings
                                                                           ISAs
    tuition fund
                                                                                  loans                         mortgage                                   shares                         mortgage(s)

                            1 account                                                         1 joint account                                                         3 joint accounts




 Cloud computing can , and will, effectively initiate the creation of a new understanding of our money and
 how we experience our personal financial world.

 Considering the processing power that ‘the cloud’ can access, users of all ages throughout an entire life
 span will not only gain a better understanding of their money, but have their money understand them.
Brief




Design an experience that allows users to understand their
money better at different periods of their life’s. In easing the
transitions between, for example, managing money for the first
time right through to preparing for retirement, allow a user to
view and play with their financial scenarios that inform them of
their short, mid and long time personal financial outlook.
Concepts


In our internet, ‘sign-in’ culture, we have many online profiles and thus a
lot of information and statements on our lifestyle choices and preferences.
What if your money could understand these preferences and suggest ideas
that relate to not only your financial situation, but to your desires and
lifestyle, adding value to your money.

                                                                                                 all registered sites




                                                                                                                                                                details your account activity
                                                                                              plans/aspirations
                                                                                                                               networks   comes independently
                                                                                                                                          from your cloud
                                                                                                        lifestyle statements


                                                                              wage/income




                                                           In this idea you would sign onto your own ‘personal cloud’ that would immediately access all
                                                           the online content on you. Combining the sites you are affiliated with and your incomes, the
                                                           cloud would begin to understand your lifestyle and suggest ideas based on your interests.
                                                           For example your facebook status hints at going on holiday so the cloud can pick up on the
                                                           fact you will be paid on X date and you prefer flying with Ryanair.
Concepts


As money becomes even more intangible and somewhat invisible, ‘the
cloud’ can play its role in assisting the tangibility of money. All your credit
                                                                                                             debit car d     debit car d




and debit cards would reflect the activity on your account, shrinking
and growing as transactions take place. By remaining solely coloured and




                                                                                  your account activity
not revealing figures, the system would still remain private.




                                                                                                          debit car d      debit car d




                                                                                                            electron        electron
Concepts


An interface that displays all your finances in a playful manner would entice




                                                                                                                                                   Virgin

                                                                                                                                                   Team
                                                                                                                                                   Sales
users to move their finances around and see what it could look like, mimicking
an abacus. I mapped out all the commitments that people commonly balance
and how a simple interface could help build a different type of portfolio - one
that lets the user see all their finances on a short and mid-term basis.                                                                          £800p/m
  Account X         Account Y         Account Z                      + Account




        Incomes                  Commitments                          Preparation
                                                                                                                                                              10%
                                    Virgin
                                    Team
                                    Sales




                                                                                                                                                    Pension
                                   £800p/m


                                                                                         view your
                                      Audi Ltd




                                   £980p/m                                               finances as 3
                                                                                         separate areas
                                        RBS
                                    Personal
                                       Loan




                                   £200p/m
                                                                                                                                                  £100p/m
           Future
  Now




        Incomes                  Commitments                           Preparation
                                                            Virgin

                                                            Team
                                                            Sales




                                                                                     +


                                   £920p/m
                                                                                         flick to ‘future




                                                                                                                          TV License
                                                                                                            British Gas




                                                                                                                                                                                                       Mastercard
                                                                                                                                       Phone +




                                                                                                                                                                                              Gym
                                                                                                                                       Internet




                                                                                                                                                                                      Bannatynes
                                                                                                                                                                         Store card
                                                                                                                                                                    TopShop
                                                 Audi Ltd




                                                                                                                                            BT




                                                                                                                                                     Car
                                                                                    +
                                                                                         mode’ to play
                                   £1220p/m
                                                                                         with your
                                                                                         finances
                          RBS
                      Personal
                         Loan




  --


                                   £150p/m

  Now
          Future
Key Concept

                                                                                                         8 DDs/SOs/Subscriptions                                             18 DDs/SOs/Subscriptions                                            24 DDs/SOs/Subscriptions

Having talked to a wide number of people - from differing backgrounds,                            rent                             lifestyle spending
                                                                                                                                                        pensions                                    lifestyle spending           pensions                                   children, education




financial situations and periods of their life’s - it became clearer that a new                                                                         2 accounts                                        2 accounts     part-time job                                             late retirement
                                                                                                                                                                                                                                                                                    (still working)




understanding of personal money and what you can do productively with it           student loan                                         part-time job   2 jobs                                              3 jobs         loans paid back                                             holidays




would suit the needs of an ever-changing world. People generally ask ‘big’             tuition fund
                                                                                                                                                              ISAs
                                                                                                                                                                                                          savings                      ISAs                                        savings



questions about money and seek answers that are relevant to them.
                                                                                                                                                                     loans                         mortgage                                   shares                         mortgage(s)

                                                                                                               1 account                                                         1 joint account                                                         3 joint accounts




      “How will council tax effect my                    “If I where to have children, how                                                                           “Will I have enough money to do what I
      money/financial life after I leave                 would I support them?”                                                                                      want to do want to do in my life?”
      University?”                                       Ben, one half of young couple                                                                               Joe, middle-aged
      Lizze, student

                                                         “How will I know what my pensions                                                                           “Which pension package will suit me best?”
      “How can I get out of my overdraft?”               will do if get a new job?”                                                                                  Johnston, nearing retirement
      Tom, student                                       Kirsty, changing jobs
                                                                                                                                                                     “What would happen if I changed my
      “Why is my bank charging me for an                 “How much is owning my car going                                                                            monthly mortgage repayments to, say,
      overdraft; what did I do!?”                        to cost me?”                                                                                                £180 a month?
      Grace, student                                     James, just started new job                                                                                 Richard, late 40s
Key Concept

Using ‘the cloud’ as the underlying technology I sketched out a system
that a user would experience over an entire lifespan. I approached the
scenarios with key quotes from users to help build the system.




                                                                  Users could literally come to the system with a financial query and retrieve completely
                                                                  tailored and personal advice that relates exactly to their lifestyle and financial well-
                                                                  being. The system would grow with you and understand how to assist you better in later
                                                                  years, managing all types of spending, saving and potential financial decisions.
Key Concept


Using a simple colour coded ‘abacus’ style aesthetic, a user would relate                        ‘commitments’                           watch your
                                                                                                                                         financial
each button to an area of their money. Then, as your financial life gets more                                                            world grow
                                                                                                 ‘savings’                               over time...
complex, you see your finances grow within a system that tracks your
circumstances and your spending behaviour. You could query purchases                             ‘incomes’
before buying while on the go, as well as making more informed decisions on
your savings, or the progress of your pension for example.                                       ‘query ’


    query a price at the point of
    purchase and link it to your                              search for a type of                                   overlay accounts and move
    wider financial outlook                                   saving to put on your                                  your money/payments around
                                                              financial timeline                                     to see potential affects...



                                    search for a new
                                    income to place of                                see where your payments
                                    your financial timeline                           lie in each month and scroll
                                                                                      foward in time...
‘Abacus’



                             I discussed the concept with
                             an accountant.His key insight
                             points out that contrary
                             to popular belief, people’s
                             knowledge of money is
                             often inverted i.e. those
                             who have a good handle of
                             their mortgage etc do not
                             have an grasp of day-to-day
                             responsibilities, which is
                             often the other way round
                             for many people.prints.



The interface would be accessed on a range of devices to enable users to view
their finances where they feel most comfortable. Users could view and play with
their finances privately, with a partner or friends, while at home, on the train or
in a shop. The advantage of a touchscreen ‘Abacus’ would allow users to discuss
their finances in the bank with an advisor, accessed securely with fingerprints.
‘Abacus’

                                                                                              1st                                                                                30th         1st                                                                  30th
                   RBS 356*****..   HSBC 440**..                                                         RBS 356*****..        HSBC 440**..                HBOS 224**..                             RBS 356*****..           HSBC 440**..   HBOS 224**..                              RBS 356*****..   HSBC 440**..   HBOS 224**..                                  RBS 356*****..   HSBC 440**..   HBOS 224**..


                                                   03/06/20 | 00:02


           Payment by: BACS to RBS Acc 356*******                                                                                                                                                       Training
                                                                                                                                                                                                       Solutions



           £29.45
                                                                                                                                                                                                          Ltd




           From: Compass Group                                        Learns about you              O
                                                                                                    2
                                                                                                                                                                                                                              (Job 3)




                                                                      throughout your                                               Cineworld
                                                                                                                                     S’scrip


                                                                                                                                                          Virgin
                                                                                                                                                                                                                   (Job 2)




                                                                      financial life
                                                                                                                                                          Active
                                                                                                                                                           Gym

                                                                                                                                                Virgin
                                                   03/06/20 | 14:44                                                                             TV/Int/
                                                                                                                                                Phone

           Payment to: O2 Mobile                                                                                            Car
                                                                                                                                                                                                                                                                                                            Post



           £25.00
                                                                                                                          Finance
                                                                                                                                                                                                                                                                                                            Office

                                                                                                                                                                                                                                                                                                                                                                Explore your options:
                                                                                                                                                                                                                                                                                                             ISA

                                                                                                                     RBS

           From: RBS Acc 356*******
                                                                                                                    Mortgage

                                                                                                                                                                                                                                                                                                             HSBC
                                                                                                        British                                                                                                                                                                                             Savings                                             + Inheritence/gift
                                                                                                         Gas                                                                                                                                                                                                  Acc


                                                                                                                                                                                                                                                                                                                                                                enter amount:
                                                                                                                                                                                                                                                                                                              BP
                                                                                                                                                                                                                                                                                                            Pension
                                                                                                                                                                                                                                                                                                              Acc


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My                                                                                       My                                                                               Total at end   My                                                                                My                                                                        My
                                                    Total in Acc:                                                                                                                                                                                          Total in Acc:
Day-to-Day                                                                               Month-by-Month                                                                   of month:      Month-by-Month                                                                    Year-by-Year
                                                                                                                                                                                                                                                                                                                                     Total in Acc:
                                                                                                                                                                                                                                                                                                                                                     Year-by-Year
                                                                                                                                                                                                                                                                                                                                                                                                                   Total in Acc:
Finances                                            £329.71                              Finances                                                                         £329.71        Finances                                                          £329.71         Finances                                                  £2329.71        Finances                                                      £2329.71




Day-to-Day purchases                                                                      Month-by-Month review                                                                                                                                                             Year-by-Year planning




                                                                            ‘Abacus’; An intelligent personal money system that grows with you and understands your financial behaviour over your
                                                                            life-span. The system reflects trends within the financial industry towards catering for entire customer life cycles and
                                                                            allows users to opt in at any stage, making good use of short term spending advice right through to building a pension.

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'Abacus' - future of personal finance project

  • 1. 0 110 0100 10101 0010 10101 1101 01001 0 101 101 & 01010 0100 0 1 0 1 1 0 1 0 1 0Research 0 Design Process 1 0 1 1 010 1010 01010 0010 01001 0101 100 T h e m a t i c // 0 100 0101 10101 1011 01001 1000 10 ‘Cloud Computing’ 0 101 1010 01010 1101 00010 0100 0 0 100 0101 01011 0101 01001 0101 1 0 101 0101 10101 0101 00101 1011 1 101 1010 10101 0101 00100 1010 1 010 0101 01001 1001 01010 010 1 011 0101 01010 0101 11011 01 ‘abacus’; the futu 1 0 1 s0o0n a 1 0 1f0i n1a 1 0 1 0 0 1 1 1 r e o f p0e r0 1 1 0 1 0 l 0 0 0 00n c e 1 0 1 01 101 0101 001 0101 0 010 0101 10101 0101 10010 101 1010 10101 1010 01010 010 1010 01010 1010 0101 010 1010 10110 0101 010 0 1 0 0 1 1 0 0 0 1 0F1 a s1r0G1i b1b 1 0 1 r e 01 1 10 1
  • 2. 0 110 0100 10101 0010 10101 1101 01001 0 1 0 1 1 0 1 0 1 0 1 0 1 is0 1 0 0 1 0 1 0 0 1 0 0 0 1 0 1 What Cloud Computing? 10 010 10101 010 1001 101 00 10 01 0 0 0 01 101 01 010 0101 10110 1001 10001 0 0 1 01 010 1010 11 10 1010 0010 1001 0 0 0 01 101 1010 101 10 1 010 1001 01010 The capabilities of cloud computing in the future: 0 0 0 01 101 0101 101 1001 01 0 01 0111 0 110 0101 11010 1010 10010 0101 increased remote access remote hardware, so lesser need for high powered personal computers 101 1010 10100 0100 10101 1010 huge remote storage space 101 1010 10101 0010 11101 101 010 1010 10101 0010 10100 01 For human experience this now means: 010 1010 01010 0010 01011 0 the cloud can process huge amounts of information on you 010 0101 10101 0101 10010 it can sense and remember things for you 101 1010 10101 1010 01010 010 1010 01010 1010 0101 010 1010 10110 0101 010 it has the ability to grow as you grow, getting to know you and you habits 010 0110 00101 1011 101 01 1 10 1
  • 3. Money Today, Money Tomorrow Cloud computing is As we move away from “It is likely that there will be a technology that is physical money towards few people beginning to influence our a cashless society, what outside the reach of wireless everyday lifes. With 24hr will this begin to look communications by internet access, virtually and feel like? How will 2020” anywhere, coupled with an we understand our own *Scenarios for Branchless Banking in 2020 unprecedented processing money, pay for things and power, its influence on the experience the financial financial industries and world by 2020? the individual leaves huge opportunity for new user experiences. ?
  • 4. Finances in the Cloud Currently, we are seeing the introduction of money management systems, centred around the iphone and online platforms. These systems gather your financial data - bank accounts, card transactions etc - into one place and allow users to access on the go. What they do not do is provide a place to experiment and learn about your money. They do not give a user a sense of nurturing their own personal financial knowledge and grow an understanding of their own money as they themselves grow older. Users need tailored assistance from a system that knows their behaviour.
  • 5. Future Financial Behaviour “ the n um b e r o f f ul l t i m e , “ Mo re serv ic es = “ t h e a v er a g e B r it is h h o us eh o ld h a s “only 10%of transactions ‘perm a n en t ’ e m p l o y ee s i s p red i ct e d m o re t ra n s a c t io n s ; 1 4 r eg u la r f in a n c ia l c o m m it men t s , in t h e U S will be cash by to decl i n e a s t he ra n k s o f co n t ra ct i n co m e s, DD s , SO s , a ll o f w h ic h r eq u ir e p a y men t by t h e ye a r 2020” wo rke rs i n cre a se” * AC N i e l s en sub scri p t i o n s . . . ” dir ec t debit o r s t a n din g o r der ” Of f ic e o f t h e F urt ure 2020 *goodwebguide (2003) H o w w i l l we Multiple jobs and changing careers Invisible m o n ey The re a re a hu ge n u mb e r e x p e r ie n c e money mean money from different places transfers m a ke i t e a s ie r, of mon ey t ra n s fe rs t ha t if p h ys i c a l cas h is at different times; how will this be but more in t a n gib l e , t o a r e v e r y ha r d t o ke e p t r a c k har d er t o c o m e by? exp er ie nc e this? spend mon ey of a n d u n de rs t a n d
  • 6. Future Industry Trends I visited the Chartered Institute of Bankers in Scotland (CIOBS) and gained some valuable insights into the future of banking, from a industry point-of-view. This ‘live’ illustration, drawn during a discussion with leading financial figures, predicts a massive shift towards generating relationships based on satisfying the customer’s financial need at key times in their lives. *Shaping the future if banking: ‘Dynamic portfolios’: c. 2020 A ten year vision money management tools ‘Aggregate financial services’: ‘Customer life cycles’: that begin to know you; accessing all your money and building and sustaining personalised and intelligent to assests from anywhere at valuable relationships with each individual need anytime customers over entire life spans
  • 7. Future User Groups 8 DDs/SOs/Subscriptions Teenager/Student rent managing money for the first time lifestyle spending Many young people start out their financial life with no idea of how to manage money, be it simple budgeting or developing their savings accounts student loan part-time job for the future. User Need: a service that allows young users to manage, learn and develop an understanding of their own personal financial situations, from day one. tuition fund 1 account
  • 8. Future User Groups 18 DDs/SOs/Subscriptions pensions lifestyle spending Young Couple multiple jobs, on the property ladder Young couples find themselves having 2 accounts 2 accounts to deal with a new way of managing not only their own money but their partners too. Multiple accounts, 2 jobs 3 jobs lifestyle balancing and preparing for the future are key considerations in their financial world. savings User Need: a service that allows ISAs couples to play with future financial scenarios to gain insights and make informed decisions, while also being loans mortgage able to manage their day-to-day finances. 1 joint account joint account
  • 9. Future User Groups 24 DDs/SOs/Subscriptions pensions children, education Middle-aged still working, pension planning, multiple savings part-time job late retirement (still working) With people working longer it is important for older users to keep up with the progress of their pensions and loans paid back holidays other savings, and plan carefully for their retirement. With similar needs to the younger users, the older user is keen to balance commitments with a fruitful lifestyle. ISAs savings User Need: a service that allows older users to plan effectively for retirement, shares mortgage(s) view and play with the possible uses of their money, and above all enjoy life in 3 joint accounts ‘the silver- age’. joint account
  • 10. Customer Lifecycle 8 DDs/SOs/Subscriptions 18 DDs/SOs/Subscriptions 24 DDs/SOs/Subscriptions pensions lifestyle spending pensions children, education rent lifestyle spending 2 accounts 2 accounts part-time job late retirement (still working) student loan part-time job 2 jobs 3 jobs loans paid back holidays savings ISAs savings ISAs tuition fund loans mortgage shares mortgage(s) 1 account 1 joint account 3 joint accounts Cloud computing can , and will, effectively initiate the creation of a new understanding of our money and how we experience our personal financial world. Considering the processing power that ‘the cloud’ can access, users of all ages throughout an entire life span will not only gain a better understanding of their money, but have their money understand them.
  • 11. Brief Design an experience that allows users to understand their money better at different periods of their life’s. In easing the transitions between, for example, managing money for the first time right through to preparing for retirement, allow a user to view and play with their financial scenarios that inform them of their short, mid and long time personal financial outlook.
  • 12. Concepts In our internet, ‘sign-in’ culture, we have many online profiles and thus a lot of information and statements on our lifestyle choices and preferences. What if your money could understand these preferences and suggest ideas that relate to not only your financial situation, but to your desires and lifestyle, adding value to your money. all registered sites details your account activity plans/aspirations networks comes independently from your cloud lifestyle statements wage/income In this idea you would sign onto your own ‘personal cloud’ that would immediately access all the online content on you. Combining the sites you are affiliated with and your incomes, the cloud would begin to understand your lifestyle and suggest ideas based on your interests. For example your facebook status hints at going on holiday so the cloud can pick up on the fact you will be paid on X date and you prefer flying with Ryanair.
  • 13. Concepts As money becomes even more intangible and somewhat invisible, ‘the cloud’ can play its role in assisting the tangibility of money. All your credit debit car d debit car d and debit cards would reflect the activity on your account, shrinking and growing as transactions take place. By remaining solely coloured and your account activity not revealing figures, the system would still remain private. debit car d debit car d electron electron
  • 14. Concepts An interface that displays all your finances in a playful manner would entice Virgin Team Sales users to move their finances around and see what it could look like, mimicking an abacus. I mapped out all the commitments that people commonly balance and how a simple interface could help build a different type of portfolio - one that lets the user see all their finances on a short and mid-term basis. £800p/m Account X Account Y Account Z + Account Incomes Commitments Preparation 10% Virgin Team Sales Pension £800p/m view your Audi Ltd £980p/m finances as 3 separate areas RBS Personal Loan £200p/m £100p/m Future Now Incomes Commitments Preparation Virgin Team Sales + £920p/m flick to ‘future TV License British Gas Mastercard Phone + Gym Internet Bannatynes Store card TopShop Audi Ltd BT Car + mode’ to play £1220p/m with your finances RBS Personal Loan -- £150p/m Now Future
  • 15. Key Concept 8 DDs/SOs/Subscriptions 18 DDs/SOs/Subscriptions 24 DDs/SOs/Subscriptions Having talked to a wide number of people - from differing backgrounds, rent lifestyle spending pensions lifestyle spending pensions children, education financial situations and periods of their life’s - it became clearer that a new 2 accounts 2 accounts part-time job late retirement (still working) understanding of personal money and what you can do productively with it student loan part-time job 2 jobs 3 jobs loans paid back holidays would suit the needs of an ever-changing world. People generally ask ‘big’ tuition fund ISAs savings ISAs savings questions about money and seek answers that are relevant to them. loans mortgage shares mortgage(s) 1 account 1 joint account 3 joint accounts “How will council tax effect my “If I where to have children, how “Will I have enough money to do what I money/financial life after I leave would I support them?” want to do want to do in my life?” University?” Ben, one half of young couple Joe, middle-aged Lizze, student “How will I know what my pensions “Which pension package will suit me best?” “How can I get out of my overdraft?” will do if get a new job?” Johnston, nearing retirement Tom, student Kirsty, changing jobs “What would happen if I changed my “Why is my bank charging me for an “How much is owning my car going monthly mortgage repayments to, say, overdraft; what did I do!?” to cost me?” £180 a month? Grace, student James, just started new job Richard, late 40s
  • 16. Key Concept Using ‘the cloud’ as the underlying technology I sketched out a system that a user would experience over an entire lifespan. I approached the scenarios with key quotes from users to help build the system. Users could literally come to the system with a financial query and retrieve completely tailored and personal advice that relates exactly to their lifestyle and financial well- being. The system would grow with you and understand how to assist you better in later years, managing all types of spending, saving and potential financial decisions.
  • 17. Key Concept Using a simple colour coded ‘abacus’ style aesthetic, a user would relate ‘commitments’ watch your financial each button to an area of their money. Then, as your financial life gets more world grow ‘savings’ over time... complex, you see your finances grow within a system that tracks your circumstances and your spending behaviour. You could query purchases ‘incomes’ before buying while on the go, as well as making more informed decisions on your savings, or the progress of your pension for example. ‘query ’ query a price at the point of purchase and link it to your search for a type of overlay accounts and move wider financial outlook saving to put on your your money/payments around financial timeline to see potential affects... search for a new income to place of see where your payments your financial timeline lie in each month and scroll foward in time...
  • 18. ‘Abacus’ I discussed the concept with an accountant.His key insight points out that contrary to popular belief, people’s knowledge of money is often inverted i.e. those who have a good handle of their mortgage etc do not have an grasp of day-to-day responsibilities, which is often the other way round for many people.prints. The interface would be accessed on a range of devices to enable users to view their finances where they feel most comfortable. Users could view and play with their finances privately, with a partner or friends, while at home, on the train or in a shop. The advantage of a touchscreen ‘Abacus’ would allow users to discuss their finances in the bank with an advisor, accessed securely with fingerprints.
  • 19. ‘Abacus’ 1st 30th 1st 30th RBS 356*****.. HSBC 440**.. RBS 356*****.. HSBC 440**.. HBOS 224**.. RBS 356*****.. HSBC 440**.. HBOS 224**.. RBS 356*****.. HSBC 440**.. HBOS 224**.. RBS 356*****.. HSBC 440**.. HBOS 224**.. 03/06/20 | 00:02 Payment by: BACS to RBS Acc 356******* Training Solutions £29.45 Ltd From: Compass Group Learns about you O 2 (Job 3) throughout your Cineworld S’scrip Virgin (Job 2) financial life Active Gym Virgin 03/06/20 | 14:44 TV/Int/ Phone Payment to: O2 Mobile Car Post £25.00 Finance Office Explore your options: ISA RBS From: RBS Acc 356******* Mortgage HSBC British Savings + Inheritence/gift Gas Acc enter amount: BP Pension Acc Why not try: Orange deal - 300mins/300texts N.I Cont’ £20,223 unlimited internet for £22.50 Click here Make changes to your: Nissan Car Finance Now is a good time to invest in a Cash ISA with RBS. With the extra money you are earning at present, Put £15,000 here for 6 years and you will beable you could comfortably afford to pay off an extra £30 to pay off your mortgage by 2026 a month and have it completely paid before 03/09/20 click here click here My My Total at end My My My Total in Acc: Total in Acc: Day-to-Day Month-by-Month of month: Month-by-Month Year-by-Year Total in Acc: Year-by-Year Total in Acc: Finances £329.71 Finances £329.71 Finances £329.71 Finances £2329.71 Finances £2329.71 Day-to-Day purchases Month-by-Month review Year-by-Year planning ‘Abacus’; An intelligent personal money system that grows with you and understands your financial behaviour over your life-span. The system reflects trends within the financial industry towards catering for entire customer life cycles and allows users to opt in at any stage, making good use of short term spending advice right through to building a pension.