Boosting the adoption of digital services that help people build savings, reduce debt, and manage cash flows could support greater financial health for the 138 million Americans who are struggling financially. That’s why, with support from JPMorgan Chase & Co., we’re creating a behavioral playbook for providers of digital financial services. The playbook will guide startups, non-profits, credit unions, and traditional financial institutions to design for the unexpected barriers that prevent low- and middle-income consumers from adopting useful digital tools.

One example of the application of behavioral insights to the adoption of digital financial tools comes from our work with Chicago-based Alliant Credit Union. We partnered with Alliant to increase the use of their mobile deposit feature. We found that members either weren’t aware of the feature, had tried it but gotten confused, or simply defaulted to habitual ways of making deposits when checks came their way.

To overcome these barriers, we created the Mobile Deposit Kit with illustrated step-by-step instructions for making a deposit and a $5 check so customers could try the service right then and there. Over six months, credit union members who received a kit deposited 60% more of their checks through this digital tool.

By helping a range of financial service providers apply behavioral principles to the design and delivery of their products, we will equip them to better understand and serve consumer needs.

Read the full article about building financial health by Maddie Kau & Abigail Kim at Ideas 42.