Investment Packs
Investment Packs is a feature in the Black app by ClearTax that enables users to invest in multiple mutual funds at once, simplifying portfolio diversification and risk management. The goal was to create a seamless, guided experience for users looking for curated investment strategies.
Company
ClearTax
My Role
UI & UX Design
Platform
Mobile App
Timeline
Aug 2021
The Team: Shibu Ponnan (PD), John Antony (Motion Designer), Vinish Varghese (Design Head), Divya Yadav (PM), Mouli Mohan (FE), Rahul Jain (BE).
TARGET MARKET
Beginner-level investors, especially Indian millennials, seeking diversified, risk-and-return optimized, and expert-recommended investment options
PROBLEM STATEMENT
Many first-time investors find mutual fund investments challenging and intimidating, as they require thorough research, risk evaluation, and portfolio diversification. Their biggest hurdle is choosing the right fund to begin with.
Users struggle with fund selection, risk management, and portfolio diversification
Investing is complex for beginners, requiring time, research, and expertise.
BUSINESS OBJECTIVES
Simplify Decision Making
Simplify investment decision-making for first-time investors.
Portfolio Diversification
Recommend a diverse range of funds across asset classes to optimize risk-adjusted returns.
User Engagement
Increase user engagement & retention within the Black app.
Revenue Growth
Drive revenue by increasing user engagement and boosting investment volume.
DESIGN PROCESS
Research
& Analysis
Market Analysis, User Analysis, Competitors Analysis, etc..
1
Design
Wireframe, High fidelity Design, & Prototype
2
User Testing
Test the prototype with target users for early feedback.
3
Launch & Performance Analysis
Deploy and Analyse the performance metrics.
4
1
Research & Analysis
Conducted user interviews to uncover pain points of new investors, performed competitive analysis of popular investment apps, and analyzed behavioral data to identify key investment trends.
Competitive Analysis
Groww, ET Money, Coin, Paytm Money, Kuvera, and Freecharge were our direct competitors, but none offered this feature.
Key Takeaways from the research
68%
New investors struggle with right fund selection.
52%
Users lacked a diversified portfolio.
74%
Investors favoured curated investment options.
USR PERSONA
Paayal Gupta
Age
26
Occupation
UX Designer
Location
Gurgaon, India
Income
₹14 LPA
Investment Exp.
Beginner
I want an easy way to invest in expert-backed portfolios without the hassle of fund selection.
Background
A young professional with a stable income looking to grow wealth through smart investments
Prefers digital platforms for financial management and seeks a hassle-free investment experience
Needs
Need help choosing the right funds to invest
A diversified portfolio that balances risk and returns
A goal-based investment platform.
Goals
Build long-term wealth with minimal effort
Save for future financial milestones like buying a house or early retirement
Invest in a simple, transparent, and efficient manner
Pain Points
Finds fund selection confusing due to too many choices
Struggles with portfolio diversification and understanding risk levels
Lack of time to research and manage investments.
Solution
Expert-Curated Funds
Avoid hassle of fund selection with expert-curated, pre-selected funds optimized for risk and return.
Portfolio Diversification
Diversify portfolio with cross-category funds aligned with user goals like retirement, tax saving, wealth growth, etc..
Transparency & Control
Users can review risk-return insights and modify fund distribution.
2
Design
The aim was to build a seamless and intuitive flow for investing in goal-based, expert-curated funds while empowering users with flexibility to understand and modify their choices.
FEATURES & SCREENS TO BE DESIGNED
A dedicated entry point and listing page for investment packs.
A detailed pack page to help users know more about the pack.
A simple return calculator to estimate investment growth.
Flexible user controls to customize the default pack composition
A seamless investment experience with One-Time and SIP modes, supporting multiple payment methods.
HIGH FIDELITY SCREENS
UI ELEMENTS
PROTOTYPE
3
User Testing
Presented the prototype to a select user group and gathered feedback to refine and enhance the product.
FINDINGS
Users found the illustrations on the detail pages distracting and adding cognitive load and scroll length. Based on UAT feedback, we removed them.
Some users were unsure about certain funds in the packs and wanted to replace them with better options. So, we added the 'Replace Fund' feature.
Users needed the Returns Calculator for the modified fund distribution as well.
Implementation was not possible due to limited engineering bandwidth and the company's shift in focus from the Black App to the ITR Filing platform.
4
Launch & Performance Analysis
Launched the android version in the last week of September 2023 and the iOS version in the third week of October 2023.
1.3x
Hike in new Investments.
30%
Revenue growth
30%
Hike in Avg. investment amount.
CONCLUSION
Solved challenges in fund selection and portfolio diversification for new and existing users.
Offered goal-based investment packs tailored to user needs.
Built user-confidence through expert-curated investment choices.
PRODUCT
DESIGNER