Buddyverse

Case study Mobile Application
January 2022

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Challenge & Context

App

My client was a new challenger bank and wishes to launch a new mobile app proposition targeting the student market. In particular they was interested in exploring how they can support students with their debt.

In the UK the value of outstanding loans at the end of March 2020 reached £140 billion. The Government forecasts the value of outstanding loans to be around £560 billion (2019‑20 prices) by the middle of this century. The average debt among the cohort of borrowers who finished their courses in 2019 was £40,000.


Value of the idea


Banks can provide a service that on the one hand supports communication with students and families in dealing with the financial aspect of the student loan and on the other hand supports the student financially by giving them rewards and benefits.

Students, facing a student loan, can receive support from other students who have already gone through the same experience. The value for students who have already applied for a loan is to receive rewards/benefits for the counselling provided.

Design Thinking

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Mockups

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