The Lessons of Fintech Apps: Design Matters for Personal Finance

This study provides lessons to credit unions that may help improve how their services are perceived and that may help activate deeper engagement with younger members.

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Bill Maurer

Dean, School of Social Sciences; Professor, Department of Anthropology and School of Law; Director, Institute for Money, Technology and Financial Inclusion

University of California, Irvine

Melissa K. Wrapp

PhD Candidate, Department of Anthropology

University of California, Irvine

Chandra Middleton

PhD Candidate in Anthropology

University of California, Irvine

Vivian Dzokoto

Associate Professor

Virginia Commonwealth University

Jenny Fan

Institute Manager

Institute for Money, Technology and Financial Inclusion

Report Number 487

Introduction and key insights from Filene Fellow, Bill Maurer

From the Center for

Emerging Technology

Executive Summary

Fintech-based personal financial management (PFM) apps are providing new ways for budgeting and investing. In an effort to attract or retain Gen Z and Millennial members, financial institutions have been quick to adopt products similar to Mint or Acorns. In the race to provide these services, few financial institutions have reviewed and explored the value that such products provide, and how people interact with and feel about budgeting and investing with these new apps.

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