HelloAbhishek

Groww Genie. Simplifying investments for new users.

How can I grow my investments and savings? This is a problem that I have been facing along with a majority of people around me. Genie is a solution to simplify investment decisions for new users who are just starting to invest and build their wealth.

Product / User Experience / Visual Design

24 Days

2024

Product study overview

Discovery

Introduction
User research
Survey and interviews
Actionable insights

Introduction
User research
Survey and interviews
Actionable insights

Introduction
User research
Survey and interviews
Actionable insights

Observation

User stories and
pain-points
Possible solutions
How might we?

User stories and pain-points
Possible solutions
How might we?

User stories and
pain-points
Possible solutions
How might we?

Solution Design

User flow
Ideation and wireframes
Visual design
Prototyping

User flow
Ideation and wireframes
Visual design
Prototyping

User flow
Ideation and wireframes
Visual design
Prototyping

Outcomes

Trackable metrics
Learnings

Trackable metrics
Learnings

Trackable metrics
Learnings

Discovery

The brief.

Young working professionals with less than 5 years of experience need to save their money for various goals such as travel, house, emergency fund etc. Parking money in the bank doesn’t provide attractive returns. How should we help them in finding the correct financial instrument to start their journey of saving and creating wealth?

Who is facing the problem ?

(Primary user)

Who is facing the problem ?

(Primary user)

Who is facing the problem ?

(Primary user)

Young working professionals with less than 5 years of experience.
Age Group: 20-27 years
Education: Higher Secondary and Undergraduates
Income Range: 20K - 55K
Location: Tier 1 cities

Young working professionals with less than 5 years of experience.
Age Group: 20-27 years
Education: Higher Secondary and Undergraduates
Income Range: 20K - 55K
Location: Tier 1 cities

Young working professionals with less than 5 years of experience.
Age Group: 20-27 years
Education: Higher Secondary and Undergraduates
Income Range: 20K - 55K
Location: Tier 1 cities

Why is it a problem for the ‘who’ ?

Lack of awareness about options that can generate best returns.
Parking money in the bank doesn’t provide attractive returns.

Lack of awareness about options that can generate best returns.
Parking money in the bank doesn’t provide attractive returns.

Lack of awareness about options that can generate best returns.
Parking money in the bank doesn’t provide attractive returns.

How are users currently saving and growing their investments ?

Saving money in fixed deposits.
Asking friends or family for advice.
Learning from Youtube and other online mediums.
Asking their bank officer for advice.

Saving money in fixed deposits.
Asking friends or family for advice.
Learning from Youtube and other online mediums.
Asking their bank officer for advice.

Saving money in fixed deposits.
Asking friends or family for advice.
Learning from Youtube and other online mediums.
Asking their bank officer for advice.

What are users saying?

Scenario 01:

I want to generate good profits from my investments and build wealth, but where do I put my money?

Scenario 01:

I want to generate good profits from my investments and build wealth, but where do I put my money?

Scenario 01:

I want to generate good profits from my investments and build wealth, but where do I put my money?

Need help finding stocks that can generate 12-14% CAGR.
Availability of too many investment platforms lead to confusion.
Consulting friends also didn’t help much.

Need help finding stocks that can generate 12-14% CAGR.
Availability of too many investment platforms lead to confusion.
Consulting friends also didn’t help much.

Need help finding stocks that can generate 12-14% CAGR.
Availability of too many investment platforms lead to confusion.
Consulting friends also didn’t help much.

Scenario 02:

“I want to travel the world”. How do I reach my financial goal?

Scenario 02:

“I want to travel the world”. How do I reach my financial goal?

Scenario 02:

“I want to travel the world”. How do I reach my financial goal?

Problem in maintaining financial discipline.
Lack of knowledge on how to reach their goals.
Majority of investment apps are transactional.

Problem in maintaining financial discipline.
Lack of knowledge on how to reach their goals.
Majority of investment apps are transactional.

Problem in maintaining financial discipline.
Lack of knowledge on how to reach their goals.
Majority of investment apps are transactional.

Investigating the problem to understand user needs

Online survey

25 users
15 mins
Survey link

25 users
15 mins
Survey link

25 users
15 mins
Survey link

Personal interview

Identifying early trends

Lack of information / Education
Access to Investment platforms
Lack of time or motivation

Lack of information / Education
Access to Investment platforms
Lack of time or motivation

Lack of information / Education
Access to Investment platforms
Lack of time or motivation

Research insights from survey and interviews

Observations

Creating user stories to identify pain points and possible solutions

User story 01:

I am unable to invest confidently in stocks or mutual funds.

Possible Solutions

Clear information about risks, growth and past performance of the suggested financial instrument.
Easy to understand comparisons between different options.
Expert / company recommended financial products be shown to new users to gain their trust.

Clear information about risks, growth and past performance of the suggested financial instrument.
Easy to understand comparisons between different options.
Expert / company recommended financial products be shown to new users to gain their trust.

Clear information about risks, growth and past performance of the suggested financial instrument.
Easy to understand comparisons between different options.
Expert / company recommended financial products be shown to new users to gain their trust.

User story 02:

I find difficulty in finding products that align with my financial goals

Possible Solutions

Providing options that are personalized to user’s preferences and financial capacity.
Suggesting portfolios or investments based on user’s specific financial goals. Example: early retirement by age of 45 years, a user might need a corpus of 5crore.

Providing options that are personalized to user’s preferences and financial capacity.
Suggesting portfolios or investments based on user’s specific financial goals. Example: early retirement by age of 45 years, a user might need a corpus of 5crore.

Providing options that are personalized to user’s preferences and financial capacity.
Suggesting portfolios or investments based on user’s specific financial goals. Example: early retirement by age of 45 years, a user might need a corpus of 5crore.

User story 03:

I find it difficult to be regular with my payments.

Possible Solutions

Tracking returns and projecting growth of user’s investment based on regular investment period / SIP.
Helping users to visualise the growth of their investments overtime.
Providing users special rewards based on the regularity of their investments.

Tracking returns and projecting growth of user’s investment based on regular investment period / SIP.
Helping users to visualise the growth of their investments overtime.
Providing users special rewards based on the regularity of their investments.

Tracking returns and projecting growth of user’s investment based on regular investment period / SIP.
Helping users to visualise the growth of their investments overtime.
Providing users special rewards based on the regularity of their investments.

Refining the problem statement

How might we help new users to invest in the right financial instrument and achieve their wealth building goal?

Young professionals that are starting their investment journey have varying short or long term financial goals. They are looking for guidance towards finding the right investment product that can help them reach their goals.

The solution: Groww Genie

Groww Genie, provides customized options that align with your risk appetite and financial goals

Users can choose how long they want to stay invested, select their risk appetites, select the financial goals and that’s it. Genie will suggest the best options for you. Start investing towards your goals.

User flow for a first time user

User flow design for Genie highlights the step by journey, a user takes, from getting informed about Genie to personalizing the suggestions and making their first investment, ensuring a delightful user experience for young professionals.

Wire frames

Creating wireframes to visualize the location of content and CTA’s on the screen and shaping the user experience for the feature.

Visual design

Taking the first step towards fulfilling your dreams confidently.

How might we help users in trusting the options presented by genie?

Genie tries to simplify risks and provide insights on the suggested investment products. Allowing users to verify if their goals are being met or not, building trust through transparency and simplicity.

A lot of iteration based on market research and user testing helped to crystallize the design.

How might we help users in trusting the options presented by genie?

A lot of iteration based on market research and user testing helped to crystallize the design.

How might we help users in trusting the options presented by genie?

A lot of iteration based on market research and user testing helped to crystallize the design.

Making your first investment with Genie

Genie portfolio is tailored to align with user goals, helping them visualize their financial journey

The users can check the past performance and composition of the recommended portfolios before they make any financial commitment. Genie portfolio is designed to provide information in easy to understand manner that motivates users to invest their money with confidence.

Genie portfolio is tailored to align with user goals, helping them visualize their financial journey

Genie simplifies investment, providing clear guidance to users

Motivating users to invest by providing clarity over risks, growth, earning potential, and past performance indicators in an easy-to-understand format. Additionally, providing custom insights to users that further help them decide if they want to go ahead with the genie-recommended portfolios.

Making smart choices and building confidence

Building wealth requires discipline. Motivating users to invest regularly as per genie’s suggestion helps them build long term habits. Visibility of their existing investments, insights to help them maximize returns and nudges motivating users to explore more products can help them in securing their financial future.

Outcomes

Trackable Metrics

To track the success and impact of Genie for the business, I would have monitored the following:

More Users for Groww

Growth in new user signups and number of new users that are making investments through Genie.
Are users dropping off without making any investments?
What about existing users, are they churning?
Are users recommending Genie to their friends?

Increasing Engagement

I would track the number of new users who show their interest in the Genie by clicking the CTA on Groww homescreen.
How much time are new users spending on checking their recommended portfolios?
How much time are existing users spending on their portfolios to track their progress?

Task Success

How many users go through introduction screens and complete personalisation?
How long does it take for a new user to complete his onboarding with Genie and make their first investment?
How many users coming back to reinvest and grow their portfolios based on genie’s rebalancing calls?

Learnings

Through this project, I was able to improve my research skills. By deeply understanding user problems and their root causes, I could come up with various solutions that had the potential to address challenges faced by users in making financial decisions.
I also tried to present the complicated financial ideas in a simple and easy-to-understand manner. It took a lot of design iterations and user testing to arrive at the final visual design for the project.

Through this project, I was able to improve my research skills. By deeply understanding user problems and their root causes, I could come up with various solutions that had the potential to address challenges faced by users in making financial decisions.
I also tried to present the complicated financial ideas in a simple and easy-to-understand manner. It took a lot of design iterations and user testing to arrive at the final visual design for the project.

Through this project, I was able to improve my research skills. By deeply understanding user problems and their root causes, I could come up with various solutions that had the potential to address challenges faced by users in making financial decisions.
I also tried to present the complicated financial ideas in a simple and easy-to-understand manner. It took a lot of design iterations and user testing to arrive at the final visual design for the project.