BFSI - Human-Centric Financial Investment
How a mutual fund company empowered first-time investors by enhancing user experience with tailored portfolios, leading to higher conversion rates and satisfaction.
Introduction:In 2017, one of India’s largest mutual fund companies sought to enhance its user experience, particularly aimed at first-time investors, who often struggle with financial decision-making.
Key Insight:Managing finances is seen as vital for achieving life goals, with significant goals typically resulting in a lower appetite for risk. Addressing such barriers is crucial to facilitating informed investment choices.
Action Plan:We facilitated user research to unpack the challenges faced by first-time investors while structuring a design sprint aimed at creating a tailored investment portfolio according to individual life goals.
Impact:The enhanced user experience led to improved conversion rates among new investors and increased customer satisfaction, which in turn contributed positively to the company’s overall growth and profitability.