Nuggets of wisdom
By: Tommy Ross
Tags: Product Design, User Experience, Finance, Startup, Fintech

Nuggets of wisdom

Findings and experiences of working on a personal finance app

If you’re here to have a look at the works I have done whilst in Nugget, drop me a message or email koh_zhiwei@hotmail.com and I can send it over. Won’t be sharing any products I’ve worked on, but I will be sharing my experience!

As some of you might know (who am I kidding, nobody does), I recently had the privilege to work with the product team at Nugget Savings, a personal finance app aimed at millennials. This app helps them save by picking up recurring transactions and creating a fixed budget for them to spend in (on a side note, I am a millennial as well)

Managing your expectations

During the course of my studies, I grew to love the UX methodologies and processes used and had planned to implement it in the new company I joined.

With a fresh pair of eyes and an invigorated enthusiasm, I went in with the mindset that I would be ready to bring change to the designs and flows of the app.

During the interview, I was instantly sold on the idea that I would be in charge of the design/usability aspects of the app, and that I would be reporting to the management directly. This to me, was a rare opportunity because I was never in a position to call the shots and push for changes. Data-driven work was something I was also very keen to explore. This however, proved quite the contrary as I soon realised.

I knew that I needed help in gathering of the requirements, and that I did not know enough of the product to ask the right questions. It taught me that asking for help is not a sign of weakness (I am still unsure the perception people have of this; your thoughts and opinions might help me gain some clarity). But most importantly, it taught me that I was growing as a creative.

Managing expectations of others’

I joined Nugget while the product was being developed, prior to its launch.

There were already algorithms in place where logic was required; whether users can set an amount to save which is more than their salary, what happens when they overspend, or what happens when their budget week crosses over two months. Some of this considerations were constantly brought up during development, and even tested at times with users.

However, one of the greatest challenges faced was to convince the stakeholders that we were not just building the app for ourselves, but for common users like yourself.

Because let’s face it, very few would want to hear feedback from a fresh face in the industry, especially when they have been working on the product for an extended time.

And while I do understand that it is never easy to hear that the way the app has been built has some gapping flaws, the user experience of the app should always come first, even before the needs of the business.

What good will an app be if it does not have users?

It’s the fault of no one that the team has certain values, but it is up to the management to set clear beliefs and direction from the start, to ensure that everyone is aligned to run an effective product team.

While it was trying at times, it helped widen my understanding of what UX should encompass. Being thrown into the deep end and expecting to swim isn’t such a bad thing.

Because let’s face it; many startups out there do have the same culture and expectations.

Whilst this experience taught me a lot about managing the expectations of different stakeholders, it also taught me more about myself than I thought I knew.

Perhaps, a more accurate representation would be that I was thrown into the deep end, and threading water to stay afloat, whilst putting out a fire that had formed on the surface.

It’s important to always be reminded of why we came into this industry.

From managing the expectations of the different stakeholders, to actually getting the work done, whilst convincing ourselves insecurities were unfounded; we often lose ourselves to the work.

It’s always good to set clear goals and KPIs of what you will be doing, right from the start. These will help you to remain consistent and always have a direction to look towards when you’re lost.

Because when everyones’ opinions matter and they all want to be heard, you need to remember what you signed up for in the first place.

Remember to always clarify whenever you have doubts. Never fear the perception that you might come off as dumb, just because you are new and there is so much that you still do not know.

We are all in the pursuit of knowledge. It means different things to different people, and that’s alright, because we are the culmination of our experiences and knowledge, and that’s what makes us unique.

All in all, I would say that there are more benefits than losses when you’re working in a startup environment. I guess that is why some companies refuse to let go of this culture, even though they have been in the industry for a long time.

Yes, you would be able to learn so much more at an accelerated rate, because this is what you’re expected to do. And it may prove tumultuous to deep dive into something that might not bear fruit, but you will never know until you give it a try. That is one of the most valuable takeaways from this experience.