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Penny Wise [Parent App]
Parental-controlled Kids banking app
Problem: There is a common problem the extended gaps between financial classes in our society. According to the research, 90% of people wish they had taken money for education at an early age, but the current education system(public schools) doesn’t have financial education programs such as tax, investment, market, and economy.
Solution: Penny Wise allows children to learn about earning, saving, and investing money in a fun and engaging way. Its features include task-based earning system, daily financial quizzes, and playful UIs.
Penny Wise combines education with parental oversight to empower the next generation with essential money management skills.
Impact:
1. UE: User Engagement: The child became aware of finances after using the Penny Wise Prototype. 
2. Behavior: 96% of test users reported increased awareness of saving goals after using Penny Wise.
3.Parental Feedback: Parents appreciated the app’s task feature, which allowed them to teach financial responsibility while giving children the freedom to manage their earnings
Case study title
Case study title sub
ROLE
Product Design/Research
DURATION
12weeks 2024
LINK
FIGMA PROTOTYPE LINK
FIGJAM LINK
Presentation Link
Case Study documentation
TOOL
Figma
Adobe CC
After Effect
COLLABORATORS
Smita Kaushik, UX Research
Poonam Borsaikia, Research, Wireframe, Persona
Parental Management: Parents can see all kids' money activities and their time/location, and set limits, and block cards.
Parent gives a task: Penny Wise has Task-earning system, a parent gives a task(such as house chore) and give the kid a small amount of money. Easily transferring money from the registered bank/credit card to the kid's bank account.
Parent sends money: After approving the task-completion, the parents can easily transfer money from the registered bank/credit card to the kids' bank account.
Card Management: A parent can manage multiple bank/credit card.
System Thinking: Penny Wise's system is for safety first, parents can make kids' accounts/cards limited or blocked. They also monitor their activity and performance, giving money through a task-earning system to learn the relationship between work and reward.