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"Trust" [Updated 21/01/2017]

A set of products designed to help the "Customer" be in control their money and dream managements.

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Who is your idea designed for and how does it support the dreams and obligations of those 50 and older?

"Trust" is designed for the various 50+ communities living in developed societies. In today's society, the customer has lost trust with regards to the evolution of technology. "Trust" is a 2 part device, being a handheld and a keychain which allows the customer to create a dream with another individual and save up towards that dream. The customer when using the application can see a snapshot of their financial health and see exactly how much their obligations are.



TRUST

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What is trust?

If we see the definition of trust it is the firm belief in the reliability, truth, or ability of someone or something. In today's society, the 50+ has lost trust in regards to the evolution of technology. Many fear of the lack of security that is being offered to them and prefer to have something physical in their hands rather than something virtual going out of their account. This is where "Trust" comes in. 



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"Trust"

When the user starts the application via the at home device or an app on their mobile, they are required to  give their personal fingerprint on the keychain to access their account. The customer will then have to input their roughly monthly expenditure on bills, hobbies, dreams etc. 

"Trust" will then allow the customer to see a snapshot of their financial health in the comfort of their own home or on the go. This allows the customer to regain control and have power in what they decide to budget upon. If they click the circle of "Trust" they can see exactly how much is allocated into that field e.g £500 for Dreams. The customer is then able to make a payment of the device or the app.

Lastly the customer will be able to create an event and add participants to that event. This allows the user to set up their dream and the expenses required to fulfill that dream. The user and the participants can then bring together both their savings to save for this event that say costs £2000. 


The Application Model:

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A Storyboard:

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What early, lightweight experiment might you try out in your own community to find out if the idea will meet your expectations?

We as a team have tested this concept on a small sample group of 50+ individuals. We are looking to increase the size of the sample group so we can get more feedback and contributions from the community towards our project.

What skills, input or guidance from the OpenIDEO community would be most helpful in building out or refining your idea?

We would love to get in depth knowledge from the OpenIDEO community to be able to build upon the foundation we have laid. Through various opinions we will be able to fully refine and construct our concept even better.

Tell us about your work experience:

We are all currently students studying Product Design at Middlesex University.

Please check all that apply:

  • I'm not currently involved in a credit union, but am curious to learn more!

This idea emerged from

  • A group brainstorm
  • A student collaboration
  • A Design Jam

How would you describe this idea while in an elevator with someone?

Why has the "customer" lost trust with regards to the evolution of technology? This is where"Trust" comes in. "Trust" is an interface which can be used on the mobile or at home. This allows the "customer" to be in control of their finances and dreams by taking their personal finances on the go via a keychain. The interface is a quick and easy solution to an on-going problem of lack of trust.

How might your idea be transferable to a large number of people?

If we able to gain a partnership with a bank or a credit union, we would be able to flood the market with our product and also see the effect it would have on the people. This would be the best opportunity to have as from the results of our samples, we have seen that there is a need for our product to exist on the market.

How do you plan to measure the impact of your idea?

We plan to measure the impact of this idea with first-hand interviews of participants using "Trust". By doing this there is an importance of assessing personal thoughts and feelings behind the product and its use. We can also measure the impact of this idea by actually manufacturing the product and putting it on the market.

What are your immediate next steps after the challenge?

After this challenge, we as a design team will be looking to bring this concept to life and hopefully bring it to the market. After hearing the feedback we have received from the community and from the participants, we believe that it's about time that a product existed for the "customer" to use and manage their personal finances and dreams. A product where people use and gain more trust in their banks and credit services is what we would like to achieve after this challenge.

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