Hello! I'm Yvonne. I am a user experience designer, problem solver, digital perma-nerd and innovation enthusiast often contemplating about life, products, and services. I have lots of thoughts - here are some of them!
  • Thinking about the Future of Money

    I attended the Future of Money conference in SF with some colleagues on the mobile design team. It was only one day long and the attendance wasn’t as large as I expected, but in just listening to speakers and panelists I learned a few things, and they answered some of my lingering questions. How do millennials think about currency? It’s very immediate (I owe someone for beer) Settling rent between 4 people should be easy because I’m used easy. Student debt monthly cash flow I should be able to make payments through touch. 84 million people were born in 1981-2000. We’ll see more money services catering to millennials. Millennials don’t think about currency the way we do. They don’t think twice about sharing considerably private information with third party businesses like Venmo, and they don’t care that a payment they’ve made gets posted to Facebook. It’s like they don’t even understand the concept of privacy because they’ve never really had it. A-ha moment of the day: OMG I’m a millennial?!?! What is the future of retirement? Main takeaway is that the responsibility has moved to the individual instead of the corporations.- Our goal when creating products and services should be to educate more people about retirement. - Trust in technology, trust in algorithms… (I dunno about that…) - Personal investment services like Acorns, Betterment, WellFund are algorithm-driven and can help you make better investment choices.   How can we educate people about money management? Now it is easy to access your financial information. Combination of technology and data. There is significant behavioral change when a user is shown his financial health as well as graphical information on how much money he is spending. Model services like LearnVest, PayPerks.   Don’t trust brokers all the time. They are salespeople. Educate the wives and daughters as statistics show females run the household when it comes to money management. When you are graduating to a more complex financial life, seek out personal advisory solutions instead of trying to self-educate. What is the future of banking? 71% would rather go to a dentist than listen to banks. 77% would bank with non-finance companies like Paypal, Costco, Square. Surveys say people have strong distrust of traditional banks! Purchasing power of the U.S. dollar lost 83% of its value since 1970. Banking online only is becoming more of a trend. Key takeaway is that people are moving away from traditional banks and finding alternatives (i.e. online banking). [Read More]