Challenge
In its foray of new-age trading and focus on engaging users digitally, SBI securities needed a transformation which was comprehensive and created an enabling environment for its ecosystem.
With SBI Smart Money, SBI Cap securities, wanted to revamp their existing application to come up to speed with the competition. The app required to be customized for its different types of users, where a host of new features and functionalities needed to be added to make it more engaging and easy to transact.
Cumbersome transaction processes and outdated user interfaces mainly caters to evolved traders and cannot be navigated easily by everyone. To navigate through this challenge the need of the hour was to empower customers to take control of their investments anytime, on-the-go. The challenges were to enable quick transactions to improve convenience, increase customer engagement, reduce customer service load by making the app intuitive and by making data easily available.
This initiated our journey to design a one-stop-shop for all customer needs.
Our Methodology
With an approach of insight + strategy + design at our core, SBICAP Securities and Think Design formed a visioning team to engage key stakeholders to form UX Vision and Strategy.
As advocates of user-centered Design, Think Design also brought in customer/user perspective to the portal, creating and developing user stories, journeys, features and functions that would be relevant to the users to be benefited. Primary user research was conducted to understand the users’ likes, dislikes and frustrations. User segmentation, creation of personas for each of the segment of users allowed for defining key task flow user wise, while also generating insights through competitor benchmarking. Perceptual mapping helped us to gather that SBICAP Securities App is envisioned to be a product more towards transactional than advisory, and innovative and millennial.
UX elements and features like Navigation, Information Design, Workflows, Messaging etc. were simplified and unified for a seamless and delightful user experience. Key insights gathered suggested an app adaptation based on trading experience that was both trader and investor centric, with simpler terminology and progressive disclosure of information, enabling easier transactions.
KEY INTERVENTIONS
1. Facilitating Ease with Technology
A user is asked few basic questions post launching the application where the system captures their trading behavior. Based on this the content in the inside pages varies for different user segments (Trader, Investor, New to market). User has three different ways to login, one traditional using ID, password and PAN verification and the other two simplified flows using m-pin and thumbprint for quick access.
2. Ease in Transactions
Customized Dashboard, 360-degree portfolio, watchlist, research, and trade-related flows were of huge importance where the idea was to show the information in progressive disclosure. Most important information was shown upfront and then deep diving in any section would reveal more information. Bold CTAs and the use of more icons to avoid information overload allowed for facilitating more transactional Design.
3. Complex made simple
Customized charting tools that offer a quick understanding of performance and predictions of stock movement with upfront calls to action of buy and sell are now available on all the screens. The app featured many such tools like scanners, stock comparison, etc. that facilitate ease in understanding and faster transactions.
DESIGN ACTIVITIES
Consulting, Stakeholder Workshop, Strategy and Product Definition, Wireframing, Prototyping, UX and UI Design.
CURRENT STATUS
SBI Smart Money was launched on 28th June 2019. These launches have been garnering customer appreciation throughout!
