Problem Statement

Financial literacy is crucial, but traditional financial tools can feel overwhelming for Gen Z. We're looking for an innovative solution that leverages AI to create a user-friendly personal finance assistant specifically for this tech-savvy generation.

Challenge

Design an AI-powered personal finance assistant app that helps Gen Z manage their finances effectively. Consider how AI can personalise the experience, provide actionable insights, and gamify saving and budgeting practices.

Solution

Step to Design Solution

Let’s deeply understand the Problem Statement and Challenge.

1. Research & user persona

According to “THE $2 TRILLION OPPUTUNITY” Gen Z is 377M (Year range 1997-2012) strong and 1 in 4 (25%) are in the workforce today, which is expected to increase 36% by 2030. By 2035, Gen Z driven spends will increase to $2T - implying that every 2nd rupee spent in India will come from a Gen Z.

Generation Z is reshaping the consumer landscape in ways that demand our attention. Their influence on retail spending, combined with their unique values and behaviors, is rapidly transforming how brands must think, act, and engage. According to research 59% Gen Z are as much as resposible like milenial in Finance and optimitic about future.

Here are the Gen Z's financial attitudes, needs, and habits:

1. Financial Attitudes:

• Value-Conscious: Gen Z spending, often seeking the best value over brand loyalty.
• Financial Independence: They aim for financial stability early and view it as crucial to adulthood.
• Openness to Tech: Comfortable with digital tools that save time and efforts.
• Authenticity Focused: They prefer brands that are transparent and honest.

2. Financial Needs