Fingon

Service Design

Team: Aishwarya Bhave, Aishwarya Londhe, Mugdha Attarde, Mingwei Ma, Xiangyue Deng

Role: Service Design, UX and UI design of the digital prototype, Making the service financially viable

Client: Aegon UK

Mentors: Kam Chana, Qian Sun

Timeline: November 2023 to February 2024, Term Project at the Royal College of Art

Objective:

Following the implementation of the auto-enrollment system for pensions, there has been a notable decline in people's engagement with their pensions. The objective is to address this trend by increasing people's involvement with their pensions and encouraging greater investment in ESG funds.

Approach:

We began with a thorough analysis of the UK's pension system, focusing on the growing demographic of working millennials. Initial pulse interviews in Canary Wharf and Bank provided insights into pension concerns. We then conducted eight detailed interviews to delve deeper into attitudes and barriers. Using this research, we iteratively developed and tested concepts, ultimately creating a solution to enhance pension engagement and promote ESG fund investment among millennials.

About Pension:

Target Audience:

Key Insights:

1. Sense of belonging
Many mentioned that they spend most of the time in their office hence consider their colleagues as a community. They feel a sense of belonging when someone’s beliefs and values align with theirs.

2. Recognition
Being a team player is necessary for each person. Recognition, and trust from other members sometimes is more important than just recognition from higher up.

3. Can’t relate to just the environment
When it comes to sustainability and climate change people fail to form an emotional connection

4. Enjoy getting to know themselves
Many people enjoy taking quizzes to find out more about themselves.

Structural ownership:

What people had to say:

Problem Statement:

"People don’t care about pension as they feel like the money is not enough for retirement and feel like they have say no say in where the money is invested."

Meet Bradley- Our Super Persona

User Flow:

Introducing Fingon - Where Employee & Employer pensions align for Sustainable Success!

Assigning Archetypes

Screenshot 2024-04-24 at 4.50_edited.jpg

Align Funds

Playing with Funds

Leaderboard

Theory of Change:

It outlines how and why a desired change is expected in a specific context. Our hypothesis emerged from concept testing with London Business School MBA students.

It suggests:

Providing recognition for employees' green fund contributions will increase engagement with workplace pensions among peers.
Offering control and transparency over pension funds will raise awareness of sustainability impact and empower individuals in decision-making.

We tested this hypothesis in a workshop with participants grouped in 2-3 friends to complete tasks and discuss, mainly to validate the influence of peer pressure.