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Lessons from Digit: Learning to Save?

@mozzadrella
October 27, 2016
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Lessons from Digit: Learning to Save?

Product analysis of the automatic savings app, Digit. Read the full post at: https://medium.com/@mozzadrella/does-digit-teach-you-to-save-69cbf3061ca3#.rfjbwzo73

@mozzadrella

October 27, 2016
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Transcript

  1. OK, with this product I will become a SAVER. Who

    doesn’t want to be a saver? But my Spidey-sense is tingling… what’s going on under the hood? Is this app trying to tell me “Let-us-do-the-hard-Calculus- homework-for-you-don’t- worry-your-pretty-head- about-it?” Kinda seems that way.
  2. So I’ll need a checking account…that would be good to

    know in the app store copy, which kind of made Digit seem like a bank. (Which it kinda is, because Digit is opening an account for you in this flow). OK, it’s Blue Time! Whoah gang. We went from flirty winking Digit to stern Bank icon, without any visual cueing of how the app will interact with “Bank.”
  3. These icons aren’t telling us a whole lot—ok there’s a

    bank…and the savings get bigger… Maybe make this a *happy account* that is bursting at its seams.
  4. But the copy kind of does…maybe use a security or

    ease-of-use icon instead. Easy access to funds == safe, legit business. At this point, I’m worried about security and safety—this visual cue doesn’t put that at ease at all…
  5. Glad there was some education on what to expect with

    Bank before account creation— that’s nicely done.
  6. However, password- creation is one of the trickiest pieces of

    FinTech onboarding, and there’s a missed opportunity here to educate the consumer on why that’s important. Glad there was some education on what to expect with Bank before account creation— that’s nicely done.
  7. Two-step verification makes me think the app is going to

    communicate with me primarily via email….
  8. How are we going to communicate, Digit? Pretty sure you’re

    gonna use # to send me notifications…
  9. But ok, you can have it, you cutie Digit ;)

    How are we going to communicate, Digit? Pretty sure you’re gonna use # to send me notifications…
  10. Scary! I know what ACH is and I’m still a

    little freaked out. The copy should should say that this will allow us to transfer money to and from bank (using ACH rails). Unclear what the state relationship is between the six-digit code above and the “Verify Your Number” button here.
  11. ACH enables push and pull transactions between accounts. ACH is

    a system owned by banks that lets them talk to each other. But while we’re here…
  12. For a good overview, check out Chapter 4 in Payments

    Systems in the US by Carol Coye Benson. They are the rails behind US FinTech services PayPal and Venmo. ACH is slow (several days) aiming for same- day settlement, but aren’t quite there yet. ACH enables push and pull transactions between accounts. ACH is a system owned by banks that lets them talk to each other. But while we’re here…
  13. Large, familiar icons, easily clickable… OK—I’m beginning to feel like

    Digit knows what it’s doing and is connected with legit banks.
  14. Maybe pull this step up in the flow to give

    newbies a familiar context, instead of generic Gloomy Bank… Large, familiar icons, easily clickable… OK—I’m beginning to feel like Digit knows what it’s doing and is connected with legit banks.
  15. But now Dark Gray Time. Dark Gray Time is serious

    time… Wish I knew what to expect down here so I don’t feel so freaked out about giving you my info.
  16. Secure connections…. are so hard…. let us give you this

    freaky spinning maze to show you how much… O.M.G.
  17. PHEW! “I’ve started..” Who is speaking to me? Is it

    the omniscient Digit? Rut-roh. Thanks, but I’m going to want to use your product and understand its value before I tell my pals. No hard feelings?
  18. PHEW! “I’ve started..” Who is speaking to me? Is it

    the omniscient Digit? Rut-roh. Thanks, but I’m going to want to use your product and understand its value before I tell my pals. No hard feelings? Thought I was “all set” but let’s see where “DONE” gets us…
  19. AHHHHHH! WUT. IS. THIS?????? Do you want me to send

    these commands INTO THE VOID!?!? All this blank space!!! What is supposed to be here?
  20. Ohhh, is this like an IFFFT to make formulas or

    recipes between Digit and my bank accounts? A little ghosted demo of what WILL be here when my account is connected WOULD BE GREAT.
  21. Makes sense and is actually a pretty neat experience. Needs

    some modeling though so users don’t send commands INTO THE VOID!
  22. Hmmm, what does FUN do? Let’s try “Liftoff” Makes sense

    and is actually a pretty neat experience. Needs some modeling though so users don’t send commands INTO THE VOID!
  23. Things Digit could have done to increase comprehension and recall:

    First 10 days: What people with similar savings patterns have saved.
  24. Things Digit could have done to increase comprehension and recall:

    First 10 days: What people with similar savings patterns have saved. Coveted things: what people spend their digit savings on.
  25. Things Digit could have done to increase comprehension and recall:

    First 10 days: What people with similar savings patterns have saved. Coveted things: what people spend their digit savings on. Assess what kind of saver I think I am vs. what I actually am—you have all my bank data, after all.
  26. It’s cute, but now it’s making me suspicious of the

    whole enterprise. I should feel secure, confident, and any sense of trust should be built with features over time. Now I’m like “WTF is this Zebra doing with my money?” Instead, zebra costume. Huh.
  27. Relatively straightforward. Wish this was properly explained in the email,

    but I understand wanting to maintain current docs on the site.
  28. Digit, you’re back! To remind me of my balance, thanks!

    But meanwhile in my text messages…
  29. …and you have Disney gifs and Chinese philosophy? Digit, you’re

    back! To remind me of my balance, thanks! But meanwhile in my text messages…
  30. There’s too much magic here, not enough relevance or motivation.

    What does someone who saves $50 a month eventually become? Put another way, why I am I doing this? While I really like the reminders…. they expose users to seeing their balance regularly…
  31. And Acorns will teach me how to grow wealth… If

    Mint will teach me how to be in charge of my future…
  32. What does Digit help me do in the future? And

    Acorns will teach me how to grow wealth… If Mint will teach me how to be in charge of my future…
  33. I would recommend bringing out the silly only when your

    customer experiences a success or reaches the next win. Otherwise it’s disorienting and I’m learning that everything around money is a “dope” joke. And saving money is hard, it takes some effort.
  34. At least as much as 15-20 seconds of “Authentication-maze- Dark

    Gray Serious-Time.” And saving money is hard, it takes some effort.