Mutual Funds SIP Handholding

PhonePe

  • Year

    2022

  • My Role

    Lead UI Designer

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.

About the project

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

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.

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.

  1. Investment amount

  2. 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

There was about 15% increase in SIP set ups on PhonePe mutual funds after this feature went live.