Problem

Engagement with the Managed Portfolio, or Robo-advisor, product dropped significantly after customers opened an account. Many accounts were inactive or went unfunded.

ObjectiveS

  • Understand why participants weren’t funding or engaging with their accounts.

  • Develop qualitative personas for managed portfolio product that could be used for other projects.

  • Journey map the managed portfolio product onboarding process to capture pain points, opportunities and needs.

PROCESS

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  • Conducted stakeholder interviews to understand the problem and hypotheses on why the problem was occurring.

  • Developed multiple journey maps and proto-personas with stakeholders, capturing hypotheses for customer pain points, opportunities and needs.

  • Facilitated 15 in-depth interviews with customers exploring their motivations, behaviors, mindsets, and onboarding experiences to inform journey maps.

  • Learned that users were unsure how to add funds once the account was already created, were frustrated with slow transfer speed, felt there was a lack of personalized guidance to match their knowledge of investing and the various email communications were confusing and contradictory.

  • Revised journey maps based on customer interviews, adding new scenarios, pain points, opportunities, mindsets and emotions.

  • Identified archetypes based on behaviors seen within customer interviews which led informed the creation of a set of invest personas.

  • Conducted competitive analysis of onboarding processes of popular apps, Fintech competitors and adjacent products to assess key themes and learn from external sources.

  • Developed & facilitated ideation workshop to determine how we could improve the onboarding experience.

  • Used ideation workshop output to create a future state journey map to storyboard some of the key prioritized ideas.

  • Helped guide roadmap creation based on customer experience needs and future state journey map.


Outcome

  • Identified countless issues and opportunities to address within the customer journey

  • Helped the invest team become more aware of their primary personas

  • Shifted product owners to a more customer-centric approach to solving problems