According to the Global Investment Survey conducted by Legg Mason in 2017, 68% of the Spanish Millennials use the Internet to track their finances, search for investment products, and receive financial advice.
Furthermore, 45% of them make use of finance Apps.
Millennials prefer to use technological solutions that take care of their lower-cost savings as well as provide them online tracking.
Nevertheless, this segment looks for a digital and automated investment process, which is why they don’t give up on expert advice.
The world is rapidly changing, and it is increasingly exposed to algorithms and artificial intelligence that make decisions based on historical information and common patterns. These systems ignore other vital factors during the investment process, such as the person’s fears, goals, and desires. In this way, one professional network specialized in wealth management can make these adjustments in real-time as well as drawing on their knowledge and experience.
Smart money holds all the information necessary to provide a daily follow-up via online banking and Caixabank’s App. The user will quickly analyze the following points:
- The valued balance and goodwill
- The evolution of profitability
- Asset allocation
- The portfolio composition
Our contribution to this project started with the conceptualization of the idea. We worked closely with the client to study the national and international markets and to perform an in-depth analysis of what experts are currently offering in the marketplace.
As a result, we set out a roadmap focusing on the user experience as the central axis of the service design.
The different screens’ ideation and execution were essential to the fulfillment of a pre-test with users experts in the field.
The behavior observations encountered in the exercise were useful to implement improvements in the selected screens. Smart Money is integrated into Now’s platform. This tool stems from the need to define the client's risk appetite and tolerance actively.
Once this is determined, the system stages a diverse range of funding choices that can be contracted through the platform. The offer is presented as a combination of 10 investment funds designed by Caixabank, which aims to enable exchange investments without any tax-cost.
Eight of these funds are replicas of the markets in which they invest. These have been built from ETFs and similar ones, which are financial instruments noted for their low fees.
Following a consumer-centric approach, we have been able to identify every customer journeys and thus to ensure the most enjoyable user experience.
Smart money is clearly and simply presented by putting essential information for investors first and creating easy navigation.