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Needfinding and Discovering New Business Opportunities.

This project was completed within an Integrated Product Design Graduate (IPD) course at UPENN. 

Develop two new banking systems for 18-24 year olds to increase the number of JP Morgan Chase customers and enhance their experience with banking.

Through ethnographic research, we dissected unmet needs to develop frameworks of how this demographic interacts with banking and the main issues that arise.


10 Interviewees

  • College students from each year

  • Various financial backgrounds


Interview Topics

  • Upbringing

  • Job Status

  • Spending Habits

  • Preference of Credit Cards vs. Debit Cards

  • Comfort with Technology

  • Pain Points and Concerns

  • Wallet "Tours"

​J.P. Morgan Chase Assignment Presentation

JMPC Online and Mobile Products Group




Gen Y Research Plan​ 



Transcript of Gen Y Interview



Final ​Presentation


Gears represent the FREQUENCY of different types of purchases in

relation to the BUDGETARY IMPACT and students' SPENDING COMFORT.

SMALLEST GEAR = Daily Expenses

  • Highest Frequency

  • Least Expensive

    • Lowest budgetary impact

  • Expected Purchases

    • Students are willing to spend money on these "necessities" 

    • Little to no advanced planning required

MEDIUM GEAR = Monthly Expenses

  • Moderate Frequency

    • Students expect these "required" purchases 

  • More Expensive

    • Medium budgetary impact - not prohibitively expensive

  • Advanced Planning - requires consideration

LARGE GEAR = Sporadic Expenses

  • Most Expensive

    • Greatest budgetary impact

    • Requires disposable income

  • Unexpected Frequency

  • Advanced Planning

    • Requires consideration and awareness of other purchases

    • Students actively decide to spend money on these optional purchases 

    • Purchases often lead to guilt, anxiety or disappointment over remaining funds

Direction 1: Vitals Monitor

A college student's need for REAL TIME BUDGET MONITORING AND ALERTS should be like a doctor's need for real time vital signs monitoring and alerts on patients. 

Solution 1: Student Budget Monitor Program
                    Mobile App

Student/parent creates BUCKETS with BUDGET LIMITS. Allocations are updated with real time spending and online banking actions.

Spending Freeze

Override is possible, but deliberately cumbersome. 

Card is declined if transaction amount exceeds the limit of a budget category. 

Rewards Program

Teaches students 

HOW TO SAVE towards higher value retail purchases while motivating spending at or below budgetary limits. Students earn points for not exceeding monthly budget limits that they can apply towards discounts on retail purchases. 


Plotted Interview Data

Parental Visibility vs. Child Spending

Life Stages of Financial Independence and Trust

Direction 2: Driver's License Metaphor

A college student's JOURNEY TO BECOME FINANCIALLY INDEPENDENT should be like a teenager's path to earn their driver's license.  





Solution 2: Student Financial Independence Program
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