Why This Project?
While our WhatsApp experiment proved that a conversational interface worked for select power users, it wasn’t enough to scale to the next 10 million investors.
The industry data was clear:
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The Rise of Direct: Direct plans grew from 27.4% (2019) to 41.2% (2024) of total AUM. Investors are increasingly seeking to optimize returns by bypassing intermediaries.
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The Demographic Shift: In the 18–34 age group, direct SIP AUM grew significantly.
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The Friction Point: Our website allowed for discovery, but the actual investment redirected users to external brokers, breaking the experience and creating "non-direct" hurdles. To build a true B2C entity, we needed to own the end-to-end transaction.
What is CAMS, KYC, & KRA
To build the architecture, we had to integrate with the core pillars of the Indian financial ecosystem
The UX Framework
We established a three-pronged framework to guide the design:
- Informed Users: Since the flow is inherently long due to regulations, we used persistent progress indicators to keep users anchored.
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Automation First: Every step that could be fetched (like bank details via pennies or PAN via bureau) was automated.
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Cognitive Load Reduction: We replaced robotic, intimidating "bank-speak" with simple, warm, and approachable language.
Key Performance Indicators
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Action Funnel: Identifying exactly what events and data we wanted to capture to understand user journey
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Average Time to Onboard: Measuring the efficiency of our automation.
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Success Rate: Percentage of users who completed the journey in one sitting.
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Investment Inflow: The ultimate metric—converting an onboarded user into a transacting investor.
The Initial Flow
Version 1 focused on a clean, step-by-step layout. We adhered to all compliance requirements while trying to maintain a minimal UI
Usability Testing: Outcomes & Fixes
Testing on the desktop version revealed a major behavioral gap
Flaws Identified in Version 1
Through data analysis, we spotted two critical "leaks" in the funnel:
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Onboarding vs. Investment: Users completed the KYC but didn't actually invest. The hypothesis was that the "WhatsApp-to-Web" journey still felt disconnected.
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The PAN Barrier: There was a significant drop-off at the PAN input screen because users don't always remember their digits, and finding the physical card caused them to leave the flow.
The Final Version: Transaction Flow
The final product is a high-intent, low-friction engine that fetches data wherever possible and puts the investment goal at the center of the experience.
My Key Learning:
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Psychology over Pixels: Moving the investment details to the start of the flow proved that The Endowment Effect (feeling ownership of the plan) is more powerful than a clean UI.
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The Power of Defaults: Smart defaults (like PEP, SIP, Bank details) significantly speed up user progression without compromising compliance.
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Regulatory Design: In fintech, a designer's best friends are the Legal and Compliance teams. Understanding the "rules" allows you to bend the "experience" to its most efficient form.