Fintech | Investment Checkout
Project for a fintech and private equity manager whose mission is to democratize investments in privately held companies. To reduce the time between investor interest and the formalization of the investment (what we can understand as the investment "checkout" process),I carried out a discovery process with internal interviews, benchmark research, secondary research, which led to the mapping of the user journey, design of user flows, wireframes and high fidelity prototypes. This project also included usability tests with users and analysis of value x impact on the implementation of new features in the product.
The result was a reduction in the time oftime to capital by more than 50% already in the first phase of project implementation.
This project has many sensitive details that cannot be published openly. The following information is only intended to present my experience and work on the project.
If you want to know more,contact.
My role and responsibilities:
Product Design Lead | UX Designer | UX Researcher | UI Designer
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Leadership in product design decisions -
Design Team Management, conducting brainstorming and design critique sessions -
Design of UX flows -
Creating wireframes, layouts and high fidelity prototypes -
Desk research, Secondary research, Interviews -
Conducting usability studies -
accessibility studies
The problem
High-value investors want to diversify their investment portfolio by investing in private equity. However, this is a type of investment that involves a lot of risk and bureaucracy, and can be time-consuming, confusing and costly. To facilitate the process for the investor, we needed to present him with simple and straightforward steps to complete the transaction. Due to the high financial sums involved in these transactions, trust and clarity in the experience are fundamental points for success.
The goal
Create an experience in which all the necessary bureaucracy was transparent to the investor, allowing him to focus only on the most important thing: the investment opportunity.Fintech had very smart and efficient internal processes, but at the end, this was not translating into a good experience for the investor. The goal was to create new flows and interfaces que guide the investor with assertive information, making clear the moments in which his action was necessary for him to complete his investment.
Discovery
The discovery process started with assessing how investors were closing private equity deals, how long they took and what their main concerns were. I collected this information with the help of the administrative, commercial teams and legal. This initial discovery provided important insights and I made a user journey mapping. From this, it was possible to map some pain points that could have a great impact on the user experience.
Real time x Perceived time
Investors did not understand that there are several steps to make the investment possible, and therefore they found the whole process very time-consuming - even if it took less time than other investments of the same type. That is, the manager had very efficient internal processes, however this did not translate into an experience that the user understood as "fast".
Transparency x Trust
Different teams needed to communicate with the investor during the process, and this left them with doubts. Even if each team communicated very well at each stage of the process, the investor always ends up looking for the same point of contact that often did not have all the information he wanted.
Communication x Security
The investor received many notifications by e-mail. There was a general sense, from both internal teams and the investor, that this format was not ideal for exchanging such sensitive information. However, another form of communication was not supported at that time.
Low fidelity wireframes
With the survey of these pain points, I worked with the hypothesis that we should concentrate all the information about the investment in a single interface, presenting the user with a clear step-by-step process. I drewlow fidelity user flows and wireframesthat demonstrated this concept and I presented it to the stakeholders so that we could define the best ways of implementation.
High Fidelity Prototype
I led the team of designers in the design of a high fidelity prototype that would allow us to carry out usability tests with selected users. We worked in parallel considering both the general aspects of the user experience and also the interface components to start building the product's Design System.
This project has many sensitive details that cannot be published openly. The following information is only intended to present my experience and work on the project.
If you want to know more,contact.
Interviews and Usability Tests
The relationship with investors is very delicate. These are users who provide a lot of sensitive information to the company and need to have complete confidence in the security of their information. That's why it was important to survey profiles that had a long-term relationship with the company, and work with the relationship team to probe whether these people would be willing to talk to our product team.
We decided to carry out two batteries of usability tests. One with team members who had a lot of contact with investors. And another with the investors indicated by the relationship team. This way we managed to guarantee a better diversity of user profiles.
The interviews and tests were conducted online, remotely and were recorded for later consultation. At the end, all users answered a SUS questionnaire. All results were very positive.
Usability tests confirmed the hypothesis that designing the experience around a single digital touchpoint made the entire process clearer for the user and increased their trust in the company.
The tests were also essential to identify a major point of user frustration and confusion at a crucial moment in the investment closing process. We realized that with a few changes to terminologies and screen flow, we could greatly minimize user frustration.
Impact
The KPIs for this project were:
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Reduction in the number of days from investment request to transfer of funds. Already in the first phase of implementation, this KPI has already been reduced by 50%;
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Reduction in the number of help requests via chat;
Learnings
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Balancing the interface design overview with developing and improving atomic components brings more integration to all designers on the team;
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Small changes can have big impacts as long as they are guided by data from studies conducted with users;
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UX Writing must be validated with real users and not with internal stakeholders;