FITSIP BY 5NANCE
Mobile App Design
'FITSIP' is an SIP (Systematic Investment Plan) product of '5nance' which is an investment advisory and market-place in India.
I worked as a UX Designer with a team of developers and analysts at Adapty Solutions Mumbai. My responsibility was to provide consulting services in the domain of UX Research and Product Design (Mobile and Web). We worked on ‘5nance’ which was an existing mobile solution and provided services in financial investment and advisory.
'FITSIP' is a module of the larger planned '5nance' mobile application, It is the first module which would be launched as an independent mobile application and further development of additional modules would add-up in 'FITSIP' Mobile App to create a larger system called '5nance'.
The core objectives of this work were to understand the issues faced by existing users of this mobile application and remove the barriers in the user experience process to provide a delightful experience. It is important being an advisory solution in financial services, that the mobile application assists in decision making and timely guidance to the users for taking care of their hard-earned money.
I worked on the complete design process to deliver a new mobile application that would replace the existing product.
‘5nance-FITSIP’ is already available on the mobile application market with mixed user reviews and market performance. We studied different use cases and experience journey maps to find barriers and pain-points to address in redesign exercise for this product. These maps are created in a focussed group discussion session on the existing version of 5nance-FITSIP.
(Users A, B, C, and D are instances of a similar user profile with the above characteristics.)
In this mobile application’s user journey, the study shows most of the users drop at the registration and on-boarding phase, which makes it hard for the user to enter and experience the complete mobile application.
After analyzing the market performance of the existing '5nance' mobile application from the database, the analysis matched accurately with our experience mapping study showing a significant number of users dropping at the registration stage and resulting in an increased number of uninstalls. Performance and user acquisition data for the previous half-year's performance is explained here. For making it easy for understanding we have split the process into 4 significant phases which accounted for the loss of potential users.
These phases are similar to the experience journey map user scenarios. Here, for every 30 users who downloaded the mobile application from the app store, only 8 users could complete the onboarding and registration process. In the existing application, there is no provision for self-care for the users to make choices on their own about the financial products and make the necessary purchases as per their wish. Once the user goes ahead in the process, a telephone number of the sales representative in the 5nance team is displayed and the user needs to manually contact the person. Due to this, only 3 users from the total 8 which had completed the registration, called the customer representative to inquire about their products. And only 1 user out of those 3 ended up purchasing the product from 5nance.
ANALYZING MARKET & COMPETITOR'S PERFORMANCE
We used 10 Heuristic Principles for testing usability of web-design created by Jakob Nielsen (nngroup.com) for understanding the relationship between the usability of respective market competitor products including the already available production version of ‘5nance Mobile App’ on Google Play Store.
Though the principles were originally drafted for testing the usability of web-design, the generic nature of the rules makes them powerful enough to test mobile product designs as well. We could understand and relate various usability aspects of these market products with their success and user perception. This will help us in formulating the area to work on.
In the table, the products and usability aspects are related on the scale from ‘less usable’ to ‘more usable’ as shown below.
User Feedbacks on FITSIP (Source: Google Play)
Ideas and opportunities from brainstorming workshop are filtered through the process and experience as below.
We will funnel it down by finding areas to work on after effort and impact analysis of all the ideas and voting by the stake-holders.
HOW MIGHT WE
During brainstorming for solving this problem, we defined the product experience as a super-set of different experiences. In this case, we want to make learning and support experience an inherent part of the overall experience for the user to use this product to explore and purchase investment products and believe they can achieve their goals quicker.
GENERIC INVESTMENT FLOW
USER LOGIN FLOW
USER KYC FLOW
PRODUCT DISCOVERY FLOW
INVESTMENT SETUP FLOW
PURCHASE AND PAYMENT FLOW
HELP AND SUPPORT FLOW
SYSTEM CONFIGURATION FLOW
ACTIVITY MONITORING FLOW
COMPLETE APP EXPERIENCE
We used hybrid card-sorting methods to understand information design perceptions from a group of experienced as well as a novice user of financial-tech mobile applications.
A total of 63 cards contained various elements ranging from button names, links to different section names which forms the organizational structure for a mobile application related to finance and investment needs.
Building Information Architecture is a crucial step in designing the information arrangement and flow for the system. We sketched out rough ideas for the information design after deciding on the content categories and the task flows.
Changes since FITSIP IA v1
This system is designed is made in a completely modular architecture. Both App UI elements and information flow can be rearranged as per the need arises depending on the future elements to be added to the FITSIP mobile application. As planned, 'FITSIP' is just an inaugural module of the larger '5nance' mobile application and the Information Architecture will be able to adapt to all the future modules which will be added subsequently in parallel to the FITSIP module.
Here in the graphics, the system is made of a stack of technology or rather functional modules and any modification done to the Information Architecture will create a new system that should be equally valid and functioning as all the different functional task flows are designed to perform work in parallel.
COMPLETE APP EXPERIENCE