Let me take you through my process of creating Invest Simulation, an OVO Invest feature that helps non-investors in the decision making process to start investing.
About Me As a product designer intern at OVO Invest, I’ve worked on a lot of projects and a wide variety of projects. A few small ones and a few big ones. In this case study, I am going to talk about one of my most impactful projects which also happens to be one of my favorite ones. I was working with one another designer and worked on it from start to finish. I also collaborate with other stakeholders that helps our decision making. My responsibility is to ideate the solutions from the UX Researchers and test the solutions.
OVO Invest is one of OVO financial services platform. It offers investment services that aims newbie and conservative investors in Indonesia start investing with only Rp10.000 (~$0.645). The platform has various investment products from money market funds, fixed income, and equity. Overall, OVO Invest mission is to simplify investing experience by allowing users to invest in the OVO ecosystem. By the time I was in this project, OVO Invest was only 2 months old.
So how are the new users start investing in OVO Invest? This is the ideal journey of investing in OVO Invest for new users:
To invest on OVO, users need to register for OVO Invest and provide additional information. The registration usually takes maximum 24 hours to complete.
<aside> 💔 The problem: We discovered that 59% of users whose registration was approved for OVO Invest did not proceed to purchase an investment product.
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<aside> 🎯 The goal: Improve the conversion of registered user into active user by increasing the number of registered user to start investing & help users understand the benefits of investing and encourage them to start investing.
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With more than a half of registered users that didn’t continue to buy an investment product, fixing this problem was crucial. From the prior UX Research that has been conducted by the UX Researchers about capturing the users behavior of investing, there are many insights that we got. The research revealed that:
