For anyone designing for consumer finance — banking, investing, billpay, money management tools, insurance providers or any business selling “savings” as a value proposition (as a consultant, I’ve learned a lot through having had opportunities to touch all of these areas) — here are some design principles you can employ to make saving a little easier for us all:
– Create perceptions that motivate.
– Make the abstract concrete.
– Equip the mind to control the flesh.
– Architect complex choices carefully.
Not sure it is enough to address people’s deep distrust towards financial institutions in the current financial crisis.