Money management

for vulnerable customers

in collaboration with Lloyds Banking Group

The client’s brief:

A recent FCA survey showed that 50% of UK adults display one or more characteristics of being potentially vulnerable. Vulnerability comes in many forms: health, resilience, life events, capability.

How can Lloyds Banking Group help these vulnerable customers manage their money better?

Field research:

We studied  FCA documentation and used it for guidance to understand the different policies.

We then started talking to people with different backgrounds to understand their stories around money.

Sara Monacchi
Shadowing customers inside banks
Volunteering for Little Village.  This gave us the chance to talk to vulnerable families and understand their needs. 


our target group:

After conducting user and field research we were able to create three main personas. Each persona was a summery of our interviewees experiences surrounding financial wellbeing.



“I live day by day” 

“I wish I had more guidance at the right time” 

“I should’ve started saving sooner


Despite the differences, a sudden life event was what brought our users into debt, making them vulnerable


Time is crucial for building financial resilience, the sooner you start the better


Savings allow you to have a bearing in case of emergency


People have a policy for spending, but don’t have it for saving.

“I live day by day” 

“I should’ve started saving sooner
Starting soon is crucial to build financial resilience that is why we decided to focus more on young adults (aged 18 to 25).


To better understand our target user we created Josh


This is his day in the life

User research:

Once we identified our persona, it was crucial to understand the actions and needs of Josh, so we started to talk to our target users .

Identifying the needs:

What are the pain points and needs?

User’s needs:

Lloyds pain points :

Bank’s saving plans are restrictive and boring. Through our interviews we kept hearing the same thing: ” It’s not for me”. Everyone has a different view on money and what might sound a lot for some, it might not be a lot for other.

Young adults have less and irregular income therefore they can only build on  micro-saving. Between 1 and 2 pound is the amount that falls under the category of micro-saving.

Millennials are very heavily influenced by their peers. They trust their friends actions and look up to influencers online and on social media. This can be dangerous since the information they read are not often reliable and can be misused .

Their tone of voice is targeted to people with a high financial literacy

Big tech is moving towards finance and they can count on a high number of loyal customers.

The younger generation uses Lloyds account to store money but transfers some amount on fine-tech banks to use their smart services


Unfortunately Covid-19 influenced our way of working and we had to comply with the rules of social distancing.


We started ideating by keeping in mind both the user’s need and Lloyds boundaries.




Enjoy our final project presented to Lloyds Banking group team.

Choose the amount to save 

Connecting daily activity to saving

Get inspired by  your peers

“Finally, round up to 1£ was to much for me”

zero hour contract worker – 25 year old

“This sounds fun

part time worker – 18 year old

“I like that I can see what my friends are up to”

student freelancer – 23 year old

How it works:

The users, Lysa community members and goals constantly form new connections on Lysa. At the backend, the bank strikes deals with the brands and influencers to increase user engagement on Lysa.

Business case:

We expect the Serviceable Obtainable Market ( SOM) for Lysa to be 3.5 M, Digitally active Young adults between the age of 18 to 25 with an LBG account.

The risks

Preventions / Actions

Measuring the impact of Lysa

We analyzed each element of Lysa with friends by keeping track of their weekly spending and acting as Lysa by giving them a daily recap via message.

Future steps:

We consider Lysa as a MVP. We hope that this can bring more positive outcomes to users and use it to invest in their over all wellbeing: education, mental health, physical health etc…

The making of:

special thanks to

 Geetika Kejriwal | Hyunjin Jo | Kotoko Kimura | Saitej Pisupati |

Length of project
4 months
 Geetika Kejriwal, Hyunjin Jo, Kotoko Kimura, Saitej Pisupati
MA - Service Design
Year 1 - Term 3 project - Royal College of Art

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