Product Lead, Product Support and Design Lead.
Wealth8 - CEO, COO, and Product Owner.
Discovery - 2 weeks
Miro, Google Slides, Figma.
Wealth8 aim was to create a financial platform which educates and supports their users through their investment journey. Their target user are groups who are traditionally underserved in the industry, focusing on the African Diaspora based in the UK. Unsure what the final product would look like, Wealth8 hired Radically Digital to complete a two week discovery to research the market, get a better understanding of their users, and design a product. Post-discovery, Radically Digital were hired to complete the build.
Discovery at Radically Digital
During the first week of discovery we deep dived into research, aiming to get a full understanding of who the target user is, Wealth8's business model and understand the competitor landscape.
Design and prototype
Once the research phase was complete, we developed the concept. We did initial sketches, and then focused on developing these into final screen designs using Figma. The final screens were turned into a clickable prototype.
Post-discovery, I worked closely with the developers to ensure designs were technically feasible and remained user-centric when implemented.
To kick off discovery, we recognised it was essential for us to fully understand Wealth8's business. We did multiple workshops including a brainstorming session to know the business goals and challenges, we defined the business model, created a value proposition and described the brand identify and tone of voice of Wealth8.
Business Goals and Challenges
Launch mobile app in African markets
Support women & millennials
Attain full FCA license
Enable customers invest in diversified (ISAs) portfolios
Educate customers on the language of investing
Enter into new markets
Wealth8 is a household name for African nationals living in Africa and the UK
Reduce or eliminate 3rd party technical dependency
User experience or products deemed inferior compared to competitors
Limited product portfolio
Competitive environment with other digital investment platforms in UK marketplace
After reflecting on the business, their branding and the landscape they operate in, we focused on the target user. Each workshop that we facilitated focused on building an in-depth picture of our target user and aimed to build an empathy with them. We initially looked at the target audience segment, considering the key demographic, geographic, lifestyle and attitudinal characteristics.
Once we had described the target audience, we build three personas, each one representing a different target user. Then we focused in on one persona, creating an empathy map from their perspective.
Lack of investment knowledge,
Cautious, sees a lot of risk in doing things,
Guidance and support, needed to take step into investing.
Does the right thing,
26 years old
Balanced risk attitude
Earns £60,000 p.a.
Just got married and planning on starting a family,
Thinking about the future in terms of kids,
Saving for wealth and purchase of house,
Good saver but not an investor yet.
Not engaged on social media,
Not fussed about designer brands,
Loves weekend brunches and art galleries,
Conscious buyer, not wasteful.
The third main part of our research was looking at existing competitors to understand how they had tackled the problem. We went through the sign up flows of Tickr, Nutmeg, Wealthify and Money Box, conducting short UX audits of each, identifying elements we liked and aspects we thought could be improved.
Wealthify Onboarding Flow
To assess if users were suitable to invest, Wealthify asked multiple questions including yearly salary and monthly disposable income. This isn't a legal prerequisite for individuals to invest and could be perceived as intrusive questions by the user.
The onboarding process for financial apps can be lengthy, I appreciated how Wealthify gave us a visual checklist to remind the user where they were up to in the process.
As a team, we also agreed that having a calculator to display the benefits of investing was a great educational tool to understand the impact of compound interest.
Help & Support
As a team we developed and created extensive userflows for onboarding and registration, viewing fund performance, reading editorial content and amending details within settings. A key focus was the onboarding flow as the information the user inputted would influence the outcome of the flow. We also considered userflows from the business's perspective, investigating when the business will have to take manual action in reaction to the user's input.
High Fi Screen Designs
When the user initially downloads the app, onboarding slides have been created to share the benefits of using Wealth8.
Once a user had signed up to the platform, it was agreed that a user would be able to access the Wealth8 platform without having an investment account, highlighting Wealth8's educational offering.
When viewing a specific fund, we recognised it was important for the key metrics to be quickly visual. We also created buttons with clear actions for the user could take.
A checklist was created to give the user a heads up of what information would be required for sign up.
When the user firsts opens the Hub section, they are prompted to take a preference quiz so they would be able to view content which is most relevant to them.
Progress bar and visual reminders were added to onboarding so the user would less likely frustrated by the lengthy process.
The screens and prototype were created using Figma. The full prototype is viewable below.
Components in the style guide were created into a design system by the developers, allowing to build for efficiently.
Text Input Fields
After completing discovery, Radically Digital was re-engaged by the client to build a minimum viable product. From a design perspective, the focus was on redesigning screens to make them in line with MVP, considering edge case user flows and working closely with the developers to create a product that is technically feasible but remains user-centric.
Thank you for taking the time to review my work. If you like what you see, please don't hesitate to get in touch to collaborate. My contact details are available below.