Financial Mobile App Vision for Next-Gen Customer

Yoyo_Yoyo

大连/UX设计师/1年前/36浏览

版权

Yoyo_Yoyo

Jul 2021

Background

In 2020, our organization introduced

Helios

, a strategic framework with guiding principles to enhance our digital products. As our strategy evolved in 2021, we identified a significant overlap between

personal investing (PI) and workplace investing (WI) customers

, creating an opportunity to acquire personal investing customers through workplace investing—an approach known as the

PWI model

. This strategy has become a key channel for attracting the next generation of customers.

Aligned with the

Helios framework

and our

mobile-first strategy

, it became evident that our legacy mobile app needed a major upgrade to meet the evolving expectations of younger customers. This realization led to the development of a

new vision for our financial mobile app

, ensuring it remains relevant, engaging, and competitive in an ever-changing market.

Design Target

To better understand the needs and mindset of the Helios Design Target (H35), our organization's user experience research (UXR) team conducted a study examining their financial mindset, decision-making process, financial relationships, and investment needs. The research provided key insights to inform the go-to-market strategy and played a crucial role in shaping experiences that enhanced client value while driving meaningful business impact.

Financial Mobile App Vision for Next-Gen Customer（图ZMzg4Mjg5NTk2） - 人机交互 - 站酷设计师Yoyo_Yoyo原创素材 - 站酷ZCOOL

H35 Design Target

Approach

Positioning analysis

To better distinguish our unique offering and articulate the value of our flagship app, we conducted a brief competitive audit. Specifically, we looked at how 11 competitors position themselves in the consumer app marketplace. 5 key themes emerged.

Financial Mobile App Vision for Next-Gen Customer（图ZMzg4MjczOTc2） - 人机交互 - 站酷设计师Yoyo_Yoyo原创素材 - 站酷ZCOOL

Positioning Analysis

1. Investing

Investing is a broadly used term. It covers individual investments like stocks, ETFs, and mutual funds; investment approaches like automated portfolios and environmental/social categories; and investment themes for your kids and your future. There's little to no mention of 'trading.'

2. Automation

"Automate" is also broadly used in multiple contexts, from automated savings and transfers from paychecks to automated tools, re-investable dividends, and portfolio rebalancing.

3. Cash/Spending

Many competitors now offer a debit or credit card, making it easy to track and monitor spending while earning re-investable cash and rewards. Although banking services are prevalent, easier ways to manage your cash across multiple accounts could be a huge opportunity.

4. Rewards/Incentives

Various methods are used to incentivize downloads or raise awareness of rewards. There's no shortage of opportunities to find value in most apps today.

5. All in one place

Many of these financial and banking services are becoming commodities. It's clear that the lines between them are starting to blur as companies expand into new verticals. Although Fidelity offers all of these services and more, very few are available on our app. And we're not clearly positioning their benefits in terms of our customers' needs.

Insights

The H35 demographic consists of emerging investors who are balancing debt management with growing their savings, yet many feel overwhelmed by the complexity of financial decisions. While some are confident in their financial knowledge, others struggle with an overload of information and unreliable sources. They heavily rely on digital tools for daily financial tasks like bill payments and money transfers but find managing multiple apps frustrating. What they truly need is a seamless, all-in-one platform that integrates banking, budgeting, and investing in a single, user-friendly experience.

Opportunity

Ideally, there would be an app that integrates various aspects of personal finances, allowing users to focus on them one at a time while understanding how they all interconnect.
By eliminating friction at critical stages of the customer journey, the app would facilitate a smoother entry point for users to take their first steps toward financial management.
Fostering financial literacy within the app would enhance users' confidence and support more informed, effective decision-making in their financial lives.

Ideation

The new Fidelity app will feature three key categories on the flagship home screen, helping customers track and understand the short- and long-term impacts of their spending, saving, and investing.
Streamline key processes like account opening, bank card linking, and check deposits to minimize effort in transactions and enable users to focus on what truly creates value.
Let the simple, concise UI speak for itself, fostering financial literacy and supporting decision-making through contextual education.

Outcome

Our team designed new pages for three key stages of the user journey: onboarding, getting invested, and deepening relationships. To enhance our presentation at the UXD All Hands meeting, we created a video that vividly showcases how the new flagship version will support our customer, Ava. Here is a video clip:

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My contribution

I participated in enitre discussion, visual style exploration, homepage design, and I made the video above.

声明

原创作品工业/产品人机交互