Making Investing Simple
Year
2022
2022
Company
Fintech start-up
Fintech start-up
Region
Singapore
Singapore
Role
Senior UX strategist
Senior UX strategist
Deliverable
MVP
MVP
Index
1. Project Background
2. Objective
3. User Research
4. Customer Journeys
5. Service Blueprint
6. UX
7. Result
2. Objective
3. User Research
4. Customer Journeys
5. Service Blueprint
6. UX
7. Result
1. Project Background
Robo-advisers are digital platforms that provide automated, algorithm-driven financial planning services with little to no human supervision. They provide more accessible investing and money management options at a fraction of what you historically pay with traditional advisers. However a large number of people with no investment experience still find it difficult to start with investing. A fintech startup saw an opportunity to support these customers and asked for my help.
2. Objective
Develop an MVP that give novices and advanced beginners access to a suite of digital tools and financial products that will assist them in achieving their life goals. .
3. User Research
To find out about the difficulties people encounter when investing, we spoke with beginners and advanced beginners in interviews. The following are some of the most frequently mentioned concerns:
“I don’t know how to start.”
Employee, 26
“I feel like I need a degree in finance.”Housewife, 36
“I don’t know if I get the return I was promised.”Employee, 52
4. Customer Journeys
We visualized a novice and advanced beginner's journey from the time they sign up to the time they begin investing using insights from user interviews. Both journeys illustrate that when a novice or advanced beginner becomes involved in investing during the Growth phase, their level of satisfaction is either rock bottom or declines, and they lose interaction with the investment platform.
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5. Service Blueprint
The journeys as shown above confirmed what we already assumed. To increase the level of satisfaction of a novice and advanced beginner, we mapped out a path that will help them to identify their reason to invest, keep them invested (in good and bad times) and broaden their investment scope, rather than focusing on risk profiles, as most robo-advisers do. This process was outlined in a service blueprint for a novice, and a service blueprint for an advanced beginner, along with supporting processes, programs and partners.
We worked closely with a selected group of private investment funds. This collaboration resulted in a suite of accessible financial products to help increase the level of satisfaction and keep clients invested.
6. Screens
Pain point
When presented with risk profiles, many people are unsure of their own risk profile and are unsure of which option to select.
Solution
It is more useful if a user can select a life goal or a reason to invest, because the majority of individuals are aware of what they want to accomplish with their investment.
When presented with risk profiles, many people are unsure of their own risk profile and are unsure of which option to select.
Solution
It is more useful if a user can select a life goal or a reason to invest, because the majority of individuals are aware of what they want to accomplish with their investment.
Pain point
Many users are unable to base their decisions on a single investment scenario.
Solution
For most users, having two or three relevant investment scenarios presented on a single screen allows them to compare them easily and reach a decision.
Many users are unable to base their decisions on a single investment scenario.
Solution
For most users, having two or three relevant investment scenarios presented on a single screen allows them to compare them easily and reach a decision.
Pain point
The majority of users have trouble following the information on an investment platform.
Solution
When a user selects the Knowlege Bar buton at the right top of the screen, a page shows up explaining the major topics related to that page.
The majority of users have trouble following the information on an investment platform.
Solution
When a user selects the Knowlege Bar buton at the right top of the screen, a page shows up explaining the major topics related to that page.
Pain point
Some users simply switch off of when they see diagrams and information graphics. "Too complicated" or "not for me" are phrases that we heard during user interviews.
Solution
To make the progress of an investment visually acceptable, an investment is presented as a loop (the loop is similar to what you see in health apps).
Some users simply switch off of when they see diagrams and information graphics. "Too complicated" or "not for me" are phrases that we heard during user interviews.
Solution
To make the progress of an investment visually acceptable, an investment is presented as a loop (the loop is similar to what you see in health apps).
Pain point
Some users just want to see their investment information in a regular way.
Solution
The panel flips and displays the investment information in regular text and diagrams when the user clicks on the switch button below it.
Some users just want to see their investment information in a regular way.
Solution
The panel flips and displays the investment information in regular text and diagrams when the user clicks on the switch button below it.
Pain point
Users do not always stay invested, and as a result, they miss out on the maximum profit from their investments.
Solution
One solution is to provide a cashflow management app so that users know what comes in and what goes out and how much to allocate for their investments.
Users do not always stay invested, and as a result, they miss out on the maximum profit from their investments.
Solution
One solution is to provide a cashflow management app so that users know what comes in and what goes out and how much to allocate for their investments.
7. Result
Potential customers have now the opportunity to sign up for the robo-adviser. A step by step guide takes the customer through the investment process. After completing the process, the customer gains access to their dashboard and the customer can track the progress of their new investment. The robo-advisor stays in close contact with the customer, supporting the customer in their journey with advise, digital tools and relevant financial products.The start-up is now looking to secure investments to accelerate software development and ramp up their service capabilities.