MoneyEDGE by NEDBANK
MoneyEDGE
The "MoneyEDGE: Experience Research" project was designed to investigate the low uptake and engagement on the MoneyEDGE platform.
Our primary goal was to understand how the platform could be enhanced to better meet the needs of our target audience in terms of available content, course structure, and overall platform usability.
Current Experience
Evaluate if the current layout and content empower users and identify areas for improvement.
Desired Financial Topics
Discover what information and education the target audience seeks to influence their money behaviours.
Sources of Knowledge
Identify where and how different segments gain financial wellness information, including credible sources.
Best Practice
Learn from competitors' approaches to packaging financial wellness content.
Money as a Cultural Norm
Understand personal narratives about money management and financial beliefs.
OBJECTIVES
PROJECT SUMMARY
RESEARCH PURPOSE
We aimed to understand how to enhance the MoneyEDGE platform to better align with the needs and expectations of users.
This included examining the current layout and content, identifying desired financial topics, understanding sources of financial knowledge, analysing best practices from competitors, and exploring money as a cultural norm.
ROLE: CX/UX RESEARCH ANALYST
PROJECT DATE: 2022
CLIENT: NEDBANK
PROJECT STATUS: COMPLETE
Why is the current uptake so low on the MoneyEDGE platform?
Why are users not staying on to complete courses?
KEY QUESTIONS
MoneyEDGE by NEDBANK
MoneyEDGE
The "MoneyEDGE: Experience Research" project was designed to investigate the low uptake and engagement on the MoneyEDGE platform.
Our primary goal was to understand how the platform could be enhanced to better meet the needs of our target audience in terms of available content, course structure, and overall platform usability.
Current Experience
Evaluate if the current layout and content empower users and identify areas for improvement.
Desired Financial Topics
Discover what information and education the target audience seeks to influence their money behaviours.
Sources of Knowledge
Identify where and how different segments gain financial wellness information, including credible sources.
Best Practice
Learn from competitors' approaches to packaging financial wellness content.
Money as a Cultural Norm
Understand personal narratives about money management and financial beliefs.
OBJECTIVES
PROJECT SUMMARY
RESEARCH PURPOSE
We aimed to understand how to enhance the MoneyEDGE platform to better align with the needs and expectations of users.
This included examining the current layout and content, identifying desired financial topics, understanding sources of financial knowledge, analysing best practices from competitors, and exploring money as a cultural norm.
ROLE: CX/UX RESEARCH ANALYST
PROJECT DATE: 2022
CLIENT: NEDBANK
PROJECT STATUS: COMPLETE
Why is the current uptake so low on the MoneyEDGE platform?
Why are users not staying on to complete courses?
KEY QUESTIONS
Assumption Busting Workshop (Hypotheses)
We began with a ±1.5-hour session to document key hypotheses from the team, shaping further questions for validation and deeper exploration. Extended stakeholders, including agency partners, were invited to engage in this conversation.
Current Content Review (Heuristic Review)
We conducted an experience review of the MoneyEDGE platform, identifying areas where we could improve based on international industry standards.
RESEARCH METHODOLOGIES
Competitor Benchmarking (Trends & Best Practice):
We evaluated sources of ‘financial wellness educators’ both within and outside the industry, identifying topics, content packaging, and feedback mechanisms. This included secondary research of existing content online and conducting courses on competitor sites to evaluate the experience against our research criteria.
Existing User Online Survey (Current Experience)
We conducted online surveys to evaluate the current experience on the platform, particularly focusing on users who registered but did not complete a course. The survey explored reasons for non-completion, overall navigation, perceived content value, and potential improvements.
Consumer Exploratory Discussions (Behavioral Patterns):
In-person triad and dyad interviews were conducted with consumers from various segments within Joburg. These discussions unpacked topics related to money and identified desired future learning areas and channels.
Financial Planner Interviews (Current Gaps):
We held 30-minute chats with Nedbank Financial Planners to understand the advice their clients seek and what content should be included in money management courses. This feedback was crucial for identifying gaps and opportunities for the MoneyEDGE platform.
Branch Immersions & Client Intercepts (Awareness)
Visiting JHB branches, we engaged with clients to understand what financial wellness topics they found most valuable. These intercepts aimed to gauge awareness of MoneyEDGE, clients' current money mindsets, and desired money management topics.
The "MoneyEDGE: Experience Research" project successfully identified key areas for enhancing the platform to better meet user needs.
By leveraging a mix of research methodologies, we gained a comprehensive understanding of user behaviours, preferences, and expectations. These insights will drive the development of a more engaging and effective MoneyEDGE platform, ultimately increasing user uptake and course completion rates.
CONCLUSION
