Client:
CoinCatalyst
Role:
Lead Designer
Year:
2023
Deliverables:
User Experience
Visual Design
Developer Hand-off
The Client
CoinCatalyst, an innovative asset management company, revolutionizes mutual fund investing with its user-centric approach. Recognizing the complexities and overwhelming nature of financial data and jargon, the company aims to simplify the investment process for all, including newcomers to the financial realm. As a reliable companion on the investment journey, CoinCatalyst simplifies wealth growth, allowing users to enjoy investing without unnecessary complications and aligning with their financial goals.
The Challenge
Investing in mutual funds can be confusing for many investors, especially with the multitude of options on mobile apps.
Our task was to design a straightforward process, enabling users to make well-informed decisions about their investments.
The Solution
To understand user behaviour, we conducted a swift usability study on existing marketplace apps and held user interviews, unveiling three key problems aligning with CoinCatalyst's app creation goals and requirements.
Streamlining KYC for smoother onboarding.
Simplifying investment analysis with visualized data.
Crafting an intuitive, personalised interface for retail investors.
By optimizing user journeys - onboarding, decision-making, and usability - CoinCatalyst addresses unmet market needs with simplicity and engaging design tailored for everyday investors.
Enters Hi-fidelity Designs
Addressing the primary concerns, we collaborated closely with the client to establish an information architecture. After multiple iterations, we promptly delved into designing the MVP app for an immediate launch. The objective was to release a basic working version early and refine it based on actual user feedback.
Easy sign-up!
We implemented a straightforward and simple sign-up process to swiftly onboard users on CoinCatalyst.
Easy KYC!
Demanding upfront KYC led to user frustration and leave the app. Users can learn about mutual funds, check out different options, and decide if they want to invest before doing the verification part. This change helps users make better choices, makes the app more user-friendly, and boost retention.
Goal-based investing
To add a personal touch, we allow users to choose life goals and set their desired timelines. CoinCatalyst then recommends investment portfolios with funds that align with those goals. This way, users avoid the hassle of searching for and selecting good funds on their own. Our goal matching feature makes investing for personal targets straightforward and effortless.
Introducing Smart Insights
To assist users with limited mutual fund knowledge in safeguarding their money, we introduced Smart Insights. This gives users glanceable info to understand if their investments align with expectations and goals. If a scheme is underperforming, Smart Insights enables users to take actions such as adjusting their portfolio. These insights provide enough information for users to have control over optimizing returns without overwhelming them.
Usability Testing and Learnings
The initial wireframes and prototypes of CoinCatalyst, were put to the test with both stakeholders and users. CoinCatalyst received positive feedback on its functionalities, the smart insight feature, the KYC flow, and the clarity with which it presented technical terms and jargon related to mutual funds.
But, it revealed a bigger need: personalized fintech experiences. Regulations often trap apps in confusing clutter. CoinCatalyst app, built for personalization, aims to rewrite the rules with intuitive design and financial clarity, paving the way for a fresh era of fintech.
