Investment App
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OCT-NOV 2022
UX Research & UI Design
Competitive Analysis, User journey map, Usability Test, Figma
Client Brief
Nourish the saving habits of users no matter their digital literacy
The client wishes to develop a banking app that nourishes a mindful saving habit of young individuals (aged 18-25) in the Philippines and helps to kickstart their investment journey. Most of them are wage earners with average salary who doesn’t have a regular saving habit. It’s difficult for this demographic to start from scratch.
Strategies
Design for laymen to get their hands dirty
The goal is to help young individuals who may not be internet savvy to build saving habits effortlessly and relieve their stress of starting to invest. The app needs to be simple to get users onboarded to start saving and investing easily.
Painpoint
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Users who don’t separate spending & saving pools and track expenses regularly get anxious about overspending. They don’t allocate money to saving on a regular basis and always forget to transfer.
Process
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It could be hard to change user behaviour or cultivate discipline, but we can do it the other way around. I replace proactive actions with a less demanding approach. By setting up an automated transfer, users no longer need to remind themselves to save money recursively. Also, setting up saving goals and dedicating a spending pool helps to prevent users from overspending.
Key result
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Users can choose to allocate a percentage or a fixed amount of monthly income when they create a saving goal. On the payday, the app automatically transfer money from the income to the saving goals.
Painpoint
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There’s a huge friction for laymen to start investing as many broker apps showcase investment products in a highly detailed manner. They get overwhelmed by unfamiliar terminologies easily.
Process
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I streamlined the investment flow and reduce the use of complicated terminologies/ information that requires a lot of effort to process. On the other hand, I want to provide a sandbox that allows users to explore investing, analyze and compare funds in a costless and secure way.
Key result
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Play around the sandbox before truly investing in reality. The app provides the Papertrade mode that allows users to simulate transactions without involving real money.
Create Saving Goal flow
User journey map - Create Saving Goal
Key takeaways
Ensure the CRUD of a data point and/or event
Knowing the client’s expectations on the KYC/ onboarding flow is good, which affects how we collect and display personal information.
Make it interesting
Add gamification to engage young users in the experience. Don’t get them frustrated when not meeting goals, get them encouraged when there is progress.
Good to automate the routine
The design received positive feedback from the users about the recursive saving allocation. It helps them to save money by automating the monthly routine and keeping them reminded of the saving progress.