Application of Expert Systems for Personalizing Financial Decisions

DS 116: Proceedings of the DESIGN2022 17th International Design Conference

Year: 2022
Editor: Mario Štorga, Stanko Škec, Tomislav Martinec, Dorian Marjanović
Author: Sara Shafiee (1), Kourosh Marjani Rasmussen (1), Eike Sch
Series: DESIGN
Institution: 1: Technical University of Denmark, Denmark; 2: Friedrich-Alexander-Universit
Section: Design Information and Knowledge
Page(s): 801-810
DOI number: https://doi.org/10.1017/pds.2022.82
ISSN: 2732-527X (Online)

Abstract

Due to the complexity of financial products, consumers with low financial literacy are left behind. However, few practical studies investigated the impact of digital advisory systems to improve customer experience. Configuration systems, as the most popular expert systems, have never been applied as a financial tool. In this study, we explore the application of configuration systems to educate consumers in achieving their financial goals. The results highlight multiple benefits from using the configurator, including greater financial literacy and improved individual financial decision-making.

Keywords: expert systems, configuration management, human-centred design, mass customisation, case study