This is a step by step guided feature to help PhonePe users pick the right mutual funds to start their investment journey and grow their wealth.
About PhonePe
PhonePe is a leading Indian digital payments platform that offers a wide range of financial services, including UPI-based payments, mobile recharges, bill payments, and investments. With over 450 million registered users, the app provides a seamless and user-friendly experience for managing transactions and investments. It is trusted for its secure and efficient services, making it one of the top fintech apps in the country.
My Role
As a UI designer, I collaborated with a UX designer and Product Manager to create aesthetic and user friendly interface for this feature.
Business Requirement
The requirement from the business team was to increase the SIP setup rates on PhonePe mutual funds which was on a gradual decline over the last couple of months
User Pain Points / Feedback
Some of the points we collected from our users are summarised as below.
I am confused on which fund to invest in from the list of funds
I want to create wealth, but no specific number in mind
I have some money left in the bank account every month after expenses
Solution
The idea was to incorporate a step by step process to help users select a fund to invest in based on the following inputs
Investment amount
Investor’s risk profile
User Flow
Wireframes
High Fidelity Mocks
Step 1
Onboarding + User Input
We also added a money growth graph to give a sense of wealth creation to the users
Step 2
Risk Profile Selection
Combined the risk and returns to create 3 investment styles the user can choose from
Step 3
Mutual Fund Selection
Recommended 3-4 funds to invest in based on the user’s previous selections
Final Step
Setting up SIP date + Payment
This is the existing SIP setup flow for mutual funds on PhonePe
Entry Point
We placed a banner at the top of the main mutual funds homepage on the PhonePe app, ensuring users can see it and give it a try.
Impact