Case Study on EasyVest
EasyVest
Empowering Investors: Designing the Future of Robo-Advisory Platforms.
Overview
EasyVest envisioned a distinctive robo-advisory platform for stock investments, that focuses on personalized experiences for customers and empowers investment advisors (distributors) with enhanced knowledge. To achieve this, a fully automated and data-driven Portfolio Construction Engine was developed. Unlike the traditional model portfolios, this engine acts as a personalized investment guide. The user experience was prioritized, leading to the creation of a user-friendly desktop web application.
What we did
Conceptualization and User Experience Research- Brainstorming about EasyVest's vision and the user's needs, analysis of market trends and user behaviors to conceptualize product design strategy.
User Journey Mapping - Mapping a detailed flow diagram showing the user journey to identify and eliminate potential roadblocks, and ensure a seamless user experience.
Blueprinting the Structure - Defined the fundamental structure and features of the website using a wireframe. This skeletal blueprint set the stage for the final design, providing a clear layout of elements and functionalities.
Visual Design and User Interface - Finally, crafting a clear, intuitive dashboard for users to manage their portfolios effectively. The website was designed to echo the same aesthetic, presenting a unified, user-friendly interface with a modern look and feel.
Design Process
The design process for the robo-advisory platform involved several steps, including:
Style Guide
Typography - In terms of typography, we opted for the "Inter" font family. This font offers a wide range of weights and styles, ensuring versatility and flexibility in our design. By using a single font family, we create a more cohesive and harmonious visual experience for our users.
Colors - The selection of a green color palette for Easyvest was intentional, as it aligns with the app's association with wealth and investment. Green is widely recognized as a symbol of growth and prosperity, making it a fitting choice for a financial platform. By incorporating shades of green into the app's design, we aim to convey a sense of trust, reliability, and financial well-being to our users.
User Flow
Creating a user flow helped in visualization of the complete structure and flow of the dashboard. This process helped identify potential pain points or areas of confusion for the user, leading to make necessary adjustments and improve/enhance the overall user experience.
Components
Our team ensured a consistent user interface design by utilizing components throughout the app.
Modules
Onboarding
Managing Portfolio
Portfolio Acquisition
Portfolio Analysis - Actual vs Ideal
Stock Detail page
1. Onboarding
Improved user engagement was achieved by developing separate user flows for distributors and individual investors on the platform, accompanied by clear communication of these flows.
To streamline the gap between distributors and clients, a new feature that enables distributors to share portfolio links with their clients was implemented. This allowed distributors to conveniently view their investments and request necessary changes.
The sign-up process was enhanced by providing clear definitions of the platform's Unique Selling Points (USPs) and safety measures, while also addressing various scenarios. These improvements ensure a seamless and secure onboarding experience for users.
2. Managing Portfolio
Once onboarded on the platform, users are presented with a streamlined flow for either creating a new portfolio or adding to an existing one.
For creating a new portfolio, a personalized experience is offered by answering important questions such as investment amount, risk profile, number of stocks, market cap, rebalancing frequency, sector preferences, and other criteria. This information is then used to construct a model portfolio tailored to the user's requirements. Users can view the portfolio's potential and make an informed decision regarding their investment.
To allow additions to an existing portfolio, a feature that allows users to upload an CSV file of their current portfolio has been implemented. After updating the portfolio, the system displays the overall potential of the portfolio. Users have the option to personalize the portfolio based on their preferences and review a summary before finalizing any changes.
3. Portfolio Acquisition
To address the challenge of visual clarity in indicating changes made to the system-generated portfolio by distributors or individuals, a feature that highlights the risk profile of the portfolio was implemented. This feature highlights the risk profile of the portfolio, enabling users to easily identify and understand the impact of any modifications on their overall risk profile.
To ensure a seamless user experience on the platform, a three-step design for buying and selling stocks was implemented. This designs shows comprehensive stock details, including name, current price, recommended quantity, and percentage within the overall investment. Users has the ability to toggle on and off their interest in any shares. Investment details, such as, the total amount required for purchasing all stocks and the capital gained or expended from selling stocks, are displayed. . The visual representation of this information is clear and intuitive thereby minimizing the chances of errors.
4. Portfolio Analysis - Actual vs Ideal
A feature to facilitate a clear comparison between the actual portfolio and the portfolio suggested by the system was designed. The users can easily make a comparison between the two portfolios through visually presented graphs that highlight the changes made. Additionally, a side-by-side comparison of all the stocks in both portfolios is displayed, enabling users to evaluate their overall investment skills and structure their portfolios according to their preferences.
To help users in enhancing portfolio performance, suggestions for the current investment portfolio are given. These suggestions indicate whether the user should sell, buy, or hold particular stocks. Additionally, filters allowing users to conveniently manage their portfolios, have also been implemented. These filters enable the sorting of stocks based on parameters such as stock name, market cap, sector, or current price.
5. Portfolio Insights
Within each user’s portfolio is a dedicated page for each stock. On this page the investment's performance since purchase, the percentage of holdings in the overall portfolio, and company-specific information are displayed. Additionally, the investment checklist provides valuable insights generated by Easyvest's proprietary algorithm, which aligns the user's risk profile and suggests rebalancing if necessary. If a stock is underperforming, the system suggests alternative options to buy with the potential return and price over time.
The design process took a total of 3 months to complete. Apart from designing, SoluteLabs also provided with Web Application Development and 3rd Party Integration like PAN Card Verification, Stock Market API integration.
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