INTELLIGENT DECISION TOOLSTM
A unique WebApp that guides users through complex (and sometimes not so complex) financial planning issues with a seamless and easy to use interactive question and answer process.
Context: Financial planning is easily available now a days but it’s either too expensive or not many people are comfortable with the financial advice service. I even tried once getting financial help by advisor but found it very expensive and decided to get answers to my 401k related question at my own. Our approach to finding solution to this type of common problem look something like this: use AI driven solution, answer a questionnaire get answers to all your financial questions. With the help of our platform make expert advice simple and easy to use.
Problem Statement: Create a Financial Decision Tool which is unique-to-the-industry, interactive intelligent advice solutions that provide expert financial planning advice to ease CFP’s & Consumer’s life.
Proposal: I wanted to create a platform that can help everyone in any financial situation there are many questions or scenarios in our day to day life eg:
Orphan 401(k): should I Leave it or rollover? With the help of our platform, users will be able to access quality information and answers to all their questions including related financial articles, videos and relevant info.
This platform will be beneficial for financial advisors as well. Earlier they used to manage all their client data in files, contact client via phone email. Now, the expert advice will be simple by our platform, easy to access manage client portal, send reminders, manage their cash flow and net worth data and many more additional functionalities.
Audience: The targeted audience is financial advisors as well as normal consumers interested in financial growth with expert advice.
My Role: Work as UI/UX Designer and solve financial planning advice problem to simplify financial advisors’ life. I discovered the user’s problem and understood their pain points, then started off the design, conducted user research to advocate designs and followed complete UX Process end to end.
Research
Competitor Analysis: At this stage of design, I wanted to understand the overall experience of existing financial planning/advice services using various criteria.
I began my research by looking through a few competitors or similar platforms by analyzing UI, UX, Userflow and other key features. I figured we have very few well know platforms doing financial planning like eMoney, MoneyGuide, Turbotax.
- First of all — it was really difficult to understand the quality of the content offered.
- Secondly — a lot of them had non-readable content with usability problems.
- Thirdly — On their webapps I didn't find some of the specific topics I was interested in; therefore, the content is not holistic.
- I also found that not every application has user onboarding process. It was difficlut to self analyse where to start first.
Who is it for?
- People those who need financial advice without reaching out to any financial advisor.
- Financial Advisor to easy the process of advising.
- Financial firm to manage their client easily.
Brainstorming and Rough Sketch: Created simplified user flow diagrams to better understand flow of the application further which was used to plan site Map of the Product.
Complete web flow and Site map was planned based upon user interviews and discussion, data was further used to create user journey and sketches on whiteboard. Also, solved long onboarding functionality by introducing short user onboarding process and minimalized user’s work.
Final Prototype and Usability Testing: After finalizing the structure of application and complete web flow we created low-fi wireframes and discussed those wireframes with CEO, VP Product, Stakeholders and Users. After getting feedback of rough prototype/ low-fi Wireframes many iterations were done to advocate users’ requirement and MVP prototype was designed. We also decided to facilitate user with product overview screen as User Onboarding Guide. It helped us to elimitae those long user onboarding process.
Rough Wireframes
Please note these are rough wireframe and original designs cannot be disclosed due to NDA.
Conclusion / Final Result
Designing this app was very challenging and rewarding too because this project taught me the importance of user research and usability testing right from discovery phase to UAT. Because only users can tell us what’s missing from the app and which path we should go.
Finally coming up with a product which simplifies and automates the process of providing holistic goals-based personal financial planning advice virtually on any personal financial planning topic.
Learned how to work in design sprint cycle and how to work with cross functional teams. From working with other designer, content team, subject matter experts and tech team.
At ASI I liked being part of product team and being involved in complete design process from discovery research to final product handoff as lead designer.