Vision
As a product designer, I collaborated with a financial technology company to create a seamless mutual fund distribution app tailored for independent Mutual Fund Distributors (MFDs). The goal was to address pain points such as manual paperwork, time-consuming client onboarding, and compliance challenges, enabling distributors to grow their businesses digitally.
Details
Role:
UI/UX Designer
Product Designer
Service:
UI/UX Design
Product Presentation
Industry:
Finance
Technology
Date:
Feb 2023 - Dec 2024
Problem Statement
The traditional mutual fund distribution process is riddled with inefficiencies:
Complex Onboarding: Manual processes made client acquisition time-intensive.
Regulatory Compliance: Distributors struggled to navigate ever-changing compliance requirements.
Client Management: Keeping track of client portfolios and interactions was cumbersome.
Brand Building: Independent MFDs lacked tools to establish their brands.
Research and Insights
To design a solution, I conducted research focusing on:
Competitor Analysis: Analyzed platforms like AssetPlus to identify strengths and gaps.
User Interviews: Spoke with seasoned MFDs and new consultants to understand their workflows and challenges.
Market Trends: Investigated emerging technologies and regulatory changes impacting MFDs in India.
Key Insights:
Speed and simplicity are critical for onboarding clients.
Distributors value tools that enhance trust and transparency with clients.
A unified platform for portfolio management and compliance is a game-changer.
Key Features
Paperless Onboarding: Simplified KYC process, enabling client registration in under 3 minutes.
All-in-One Dashboard: A consolidated view of client portfolios, market insights, and regulatory updates.
Co-Branded Marketing Materials: Tools for MFDs to create personalized promotional content.
Compliance Assistant: Notifications and guides for regulatory adherence.
Mobile-First Approach: Optimized for seamless use on the go.
Design Objectives and Process
Objectives:
Streamlined Client Onboarding: Enable paperless, real-time KYC processing.
Unified Dashboard: Provide a single platform for portfolio tracking, market insights, and compliance updates.
Brand Empowerment: Include customizable marketing tools to help MFDs establish their identity.
Accessibility: Ensure the app is intuitive for both tech-savvy and less-experienced users.
Process:
1. Empathy Mapping: Mapped distributor personas to understand their pain points and aspirations.
2. Wireframing: Created low-fidelity wireframes to outline user flows for key features, including onboarding, portfolio management, and compliance tracking.
3. Prototyping: Developed interactive prototypes to test usability and gather feedback from a pilot group of distributors.
4. Visual Design: Emphasized a clean, professional aesthetic with a focus on readability and trust-building visuals.
Impact
The app empowered MFDs to:
Onboard Clients Faster: Average onboarding time reduced by 80%.
Increase Efficiency: Digital tools saved distributors hours of paperwork and manual processes weekly.
Grow Their Business: Enhanced tools for branding and communication helped distributors attract and retain clients.
Achieve Regulatory Compliance: Proactive alerts and updates ensured adherence to the latest guidelines.
Feedback from beta users highlighted the app’s intuitive design and transformative impact on their workflows.
