Human-Centered Design: How to Prioritize Equity and Inclusion in the Design of Financial Products

Thursday, March 24, 3pm ET

Moderated by:

• Melissa Gopnik, Senior Vice President, Commonwealth

Panelists:

• Pam Mayer, Senior Vice President, TM Product Innovation Lead, PNC
• Haydeé Moreno, COO, JUST
• Rendel Solomon, Founder, Solomon Financial Institute

Financial insecurity is a deeply rooted systemic problem in the United States that predates the
current economic fallout caused by the COVID-19 pandemic. The pandemic shone a light on this challenge and also exacerbated it, especially for people living on low and moderate incomes, disproportionately Black, Latinx, and women-led households. The detrimental impact of insecurity goes beyond individual households - it impacts communities, workplaces, and our society as a whole.

Changing the landscape of financial insecurity requires a deep understanding of the elements of the financial system—the products, services, experiences, distribution channels, and policies—that support individuals’ ability to achieve financial security. Becoming financially secure requires both believing that financial security is attainable for yourself and your community, and having a positive balance sheet.

How might we design financial products that better serve the needs, wants and aspirations of customers who are financially insecure? How might we design products that work for people who have been left out of the mainstream financial system? How can fintechs and product designers ensure their human-centered design processes support inclusion and equity?

In this webinar, Melissa Gopnik facilitated a discussion with Pam Mayer, Senior Vice President, TM Product Innovation Lead, PNC; Haydeé Moreno, COO, JUST; and Rendel Solomon, Founder, Solomon Financial Institute on innovations in human-centered product design for equity and inclusion. Melissa shared findings from our report A Framework for Positive Futures: Money, Mindset and Social Networks and presented strategies that UX and product designers can implement to ensure that their designs advance financial products that are equitable and inclusive and are supportive of the needs of people with low-to-moderate incomes.

Commonwealth’s work on Positive Financial Futures is made possible thanks to generous support from MetLife Foundation.