AIris
Banking in the future- powered by AI and Apple Vision Pro
Personal Project 2024​
Overview
Within the Financial Industry there is a digital revolution that is driven with AI (artificial intelligence). With all new technology like the Oculus and Vision Pro glasses, there is a need to adapt and integrate this for financial purposes as well. This project helps envision a future where banking can be integrated with AI driven insights into an immersive, AR (augmented reality) experience using Vision Pro.
"Unlocking the transformative power of AI will require financial institutions to put trust, talent, and a focus on value creation at the center of their AI strategies: revolutionising the way banking, capital markets, asset management, and insurance companies operate."- KPMG
The main goal is to help a user get a personalised view into their financials to help them redefine how they would manage their money, make informed spending decisions and best interact with their bank.
Role
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Sole Product Designer
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Research, Information Architecture, Interaction design,Visual design, Prototyping and Testing
Platform​
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AR Experience - on Vision Pro
Timeline​
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4 weeks
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Aug 2024- Ongoing
Disclaimer: AIris is a fictitious product at the moment. The project presented here are all speculative and for ideation purposes only at the moment.
The Project
Based the research I conducted using data collected from conversations with the CFO at Terrapay and newsletters from KPMG, EY and US Bank, I narrowed it down to 4 top problems -
1. Lack of Personalisation in Financial Tools:
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Traditional banking apps often fail to provide any tailored advice or personalised insights, leaving users irrelevant financial guidance.
3. Complex Financial Data:
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Users find it overwhelming due to the complexity of financial data, making it difficult for them to easily understand and make an informed decision.
2. Inefficiency in Financial Management:
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Users find it frustrating to manage their finances through multiple banking apps or their websites for all-in-one financial planning.
4. Limited Predictive Assistance
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Tools don’t offer any proactive, real-time predictive insights about personal future financial needs based on market trends, or personal spending, which could hinder users from optimising their financial decisions they make in the moment.
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We need systems that don’t just show a user what happened last quarter but can predict their next quarter’s cash flow based on real-time variables like market shifts or personal spending changes. The predictive value will help them make informed decisions.”
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The Process
Here is a brief outline of the design process for the AI Powered experience for banking
The process was user-centered, ensuring that the final product not only meets technical goals but also provides a highly intuitive and personalised experience for users.
Research & Discovery
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Goals
To create an immersive, AI-powered banking experience that leverages predictive analytics and augmented reality (AR) to help all users make smarter financial decisions, manage their finances seamlessly, and achieve all personal long-term financial goals.
Objectives
These goals aim to revolutionise the banking experience by making financial management intelligent, intuitive, and engaging. The Objectives below highlight how we would get to that
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Personalised Financial Guidance: To provide users with real-time, AI-driven insights tailored to their financial habits and goals, by helping them make informed decisions.
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Proactive Financial Management: To help the user automate routine financial tasks (e.g. savings allocation, bill payments) and provide real time alerts for opportunities or related risks, help users stay ahead in managing their finances effectively.
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Predictive Analytics: To help users prepare and anticipate future financial needs through AI-powered forecasting, helping them optimize their savings, investments, and spending.
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Enhanced User Engagement: To simplify complex financial data and offer a seamless, integrated platform for budgeting, banking, and investin and promote long-term user engagement.
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Immersive AR Experience: Utilize Vision Pro’s AR capabilities to offer an intuitive, engaging interface where users can visualise financial scenarios, track progress towards goals, and dynamically set new goals in an interactive environment.
Marketplace Research
I did my competitor analysis by reading newsletters by EY and KPMG and looking at platforms like Wealthfront, Cleo and Yolt, to understand market trends currently and for the future.
Market research highlights an opportunity for an AI-driven, all-in-one financial platform that combines investment, banking, and budgeting tools with predictive analytics and an immersive user experience. This product can capitalize on the weaknesses of current market players by offering real-time, personalised insights and leveraging AR to create a unique and engaging financial experience.
Key Insights from Market Research
User Engagement via Advanced Interfaces:
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While Cleo uses a chatbot and gamified experience, none of these tools incorporate AR or immersive visualizations to engage users in an intuitive, forward-thinking way. This is a key differentiator for the AI-powered banking solution leveraging Vision Pro.
Personalized Predictive Insights:
There’s a clear gap in delivering real-time, predictive analytics that offer users actionable advice about future financial decisions (like Wealthfront and Yolt only doing basic tracking). A product like ours could provide this in a more proactive way by integrating AI-driven financial simulations and forecasts.
User Engagement via Advanced Interfaces:
While Cleo uses a chatbot and gamified experience, none of these tools incorporate AR or immersive visualizations to engage users in an intuitive, forward-thinking way. This is a key differentiator for the AI-powered banking solution leveraging Vision Pro.
User Interview
To create a banking experience that truly meets the needs of a diverse audience, I developed 3 detailed personas based on my user research. These personas helped guide design decisions and ensure that the final product addressed real-world pain points.
Affinity Mapping
To better understand common themes across my user research and determine key features of the banking experience, I conducted an affinity mapping exercise with the findings. This process grouped insights from user interviews, surveys, and usability tests into themes, helping me identify core needs and opportunities for innovation.
Ideation- Concept developement
Key Insights
These insights were essential in shaping the final product. The persona study and affinity mapping ensures that the design focuses on user-centric features, making the banking experience not only futuristic but also highly personalised, secure, and easy to use.
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The AI-powered Financial Assistant directly addresses the demand for personalized, real-time insights.
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The Immersive Financial Planning feature supports users’ need to visualize goals, which was particularly popular among young professionals like Mark.
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Biometric Authentication addresses concerns around security, providing seamless, secure access that fits into users’ daily routines without adding friction
Define Problem
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Current digital banking experience lacks personalised predictive assistance, immersive user engagement, and real-time financial guidance, leaving users overwhelmed by complex data and unable to proactively manage their finances or make informed long-term decisions. Our AI-powered solution aims to address these challenges by providing predictive insights, tailored financial recommendations, and an intuitive AR interface for seamless financial management.
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Performance Metrics
User Engagement Rate
Goal Completion Rate
Time Spent in AR Interface
Predictive Accuracy
User Retention Rate
Transaction Efficiency
AI Recommendation Adoption Rate
These metrics will help measure user satisfaction, engagement, and the value of AI-driven predictions in the product’s initial phase.
Feature Prioritisation
Based on interviews and general market research, I was able to identify a list of potential features. I was also able to narrow down and focus on what is vital to the success of a product like this. These features focus on personalization, proactive financial management, and engaging AR-driven interactions to provide a comprehensive banking experience from the first release.
💡 Features of this Product
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AI-Driven Personalised Financial Insights-
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​Real-time, tailored financial recommendations based on spending habits, savings goals, and investment preferences.
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Predictive analytics to anticipate future financial needs, upcoming bills, and spending trends.
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Immersive AR Financial Dashboard (Vision Pro)
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​Augmented reality interface for interactive financial tracking, goal-setting, and data visualization.
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Users can visualize progress toward financial goals, simulate investment outcomes, and explore budget adjustments in a dynamic AR environment.
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Investment Recommendations and Market Alerts
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Real-time investment suggestions based on user profiles, risk tolerance, and market
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Notifications for users portfolio performance, with AI-driven insights for buying, selling, or rebalancing investments.
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Budgeting & Expense Tracking with Predictive Alerts
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Automated, AI-driven budget analysis and spending breakdown.
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Predictive alerts for overspending, upcoming bills, and opportunities to save or optimise expenses.
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Goal Setting & Progress Tracker
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AI-powered goal-setting feature that helps users define, track, and adjust long-term financial goals (e.g., saving for a house or vacation).
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Interactive visual progress tracking and scenario simulation to motivate and guide users.
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AIris is an AI-powered, augmented reality banking platform that delivers personalized financial insights, predictive budgeting, and immersive goal tracking to help users make smarter financial decisions effortlessly.
Ideate Task flow
Task Flow 1
Personalized Financial Goal Setting & Tracking Flow
Objective: Help users set financial goals (e.g., saving for a house, retirement) and track progress in real-time with AI recommendations and AR visualizations.
Task Flow 2
AI-Powered Investment Recommendation Flow
Objective: Provide users with intelligent, real-time investment recommendations based on their financial profile, risk tolerance, and market trends.
Task Flow 2
AI-Powered Investment Recommendation Flow
Objective: Provide users with intelligent, real-time investment recommendations based on their financial profile, risk tolerance, and market trends.
Ideate Wireframes
Low-Fi Wireframes
I structured the diagram to better understand how the features and key information would fit together for a smooth user flow. It also helped me identify missing features that would be key for V1while doing this.
Final Designs Coming in 2 Days ...