Client
iwp cAPTIALS
Timeline
aug. 2022 - dec.2022
project type
fINTECH MOBILE APP
team
Damien Li & WEN WU- UI/UX
Bing - Product manager
Bing - Product manager
Explore Investment that align with your Values
Are you passionate about making a positive difference in the world? Sanctify have curated a diverse range of investment options that prioritize sustainability, social responsibility, and positive change. Now, you can grow your wealth while making a difference.
Stay Informed with your customized themes
We understand that every investor has unique values and priorities. From green energy to gender diversity, now you can customize your investment criteria using our powerful screening tool. Our homage will help you stay informed with hottest opportunities and curated market news specifically for you.
Monitor screen result of your interested stocks
Empower your investment decisions with our powerful Screening features. Easily discern whether your selected securities or your portfolio's holdings resonate with your core values, ensuring your investments reflect what truly matters to you.
PROJECT BRIEF
Understand the Business Details
For those unfamiliar with impact investing, Impact investing is a distinct investment philosophy that deviates from the conventional sale of stocks in religious organizations. Instead, it centers around maximizing investor returns while actively selecting investments that resonate with one's values and beliefs. These choices are often influenced by environmental considerations and social impact. In essence, impact investing goes beyond mere profit-making; it seeks to create a meaningful impact and contribute to a better world.
What is Impact Investing?
To generate a positive, measurable social and environmental impact alongside a financial return.
Why is it important & Who are Target users ?
Over the years of providing financial consultation and investment services, the Iwp Capitals identified that not only their existing faith based-users, such as Catholics, who are deliciated in impact investing; more people than ever are considering how to make their everyday decisions through lens of social change. Particularly, the younger generation is at the forefront of this movement.
According to a survey conducted by Fidelity Charitable, “62% of current millennial investors participated in impact investing, they believe that they can drive positive changes and influence corporate behavior by investing in companies that prioritize social and environmental responsibility.”
According to a survey conducted by Fidelity Charitable, “62% of current millennial investors participated in impact investing, they believe that they can drive positive changes and influence corporate behavior by investing in companies that prioritize social and environmental responsibility.”
“Among 1200 investors,
34% of all currently participate in impact investing.
60% who haven’t made an impact investment are likely to consider trying it in the next year.”
34% of all currently participate in impact investing.
60% who haven’t made an impact investment are likely to consider trying it in the next year.”
Major challenges of impact investors
Based on IWP’S market report, we have uncovered two primary challenges faced by average retail investors when attempting to conduct research and determine whether a security or fund aligns with their beliefs:
• Complex due diligence: It’s difficult for investors to integrate values into one’s investment, as it requires extensive time, knowledge and resources. Most of time, they would miss the optimal timing to invest
• Lack of transparency: There’s currently few standardized framework or definition for impact investing, which can make it difficult for investors to evaluate impact investments based on their diverse personal values.
• Complex due diligence: It’s difficult for investors to integrate values into one’s investment, as it requires extensive time, knowledge and resources. Most of time, they would miss the optimal timing to invest
• Lack of transparency: There’s currently few standardized framework or definition for impact investing, which can make it difficult for investors to evaluate impact investments based on their diverse personal values.
We would like to ...
...help investors cultivate wealth from companies whose
activities aligned with their values, and make impact investing
easier, more accessible, and transparent.
activities aligned with their values, and make impact investing
easier, more accessible, and transparent.
SWOT ANAYSIS
Gain insights from existing Fintech Products
Before diving into design process, our group conducted a market analysis to examine whether existing fintech products has offered any solutions for impact investing. Our evaluation involved six popular investing apps with the highest downloads from the app store. While each app has its unique interfaces & features, such as automated investment and smart portfolio, we observed that their primary focus was predominantly on trades and financial management rather than impact/ESG investing. Nevertheless, the research yielded valuable takeaways that we discussed with our clients, serving as a foundation for shaping our unique approach, and enabling us understand user-flows & aesthetics of these more conventional fintech products.
How might we...
develop a more tailored investing product that caters to the
specific requirements of impact investors, and to make sure the design is well-balanced, consistent, and easy to use?
specific requirements of impact investors, and to make sure the design is well-balanced, consistent, and easy to use?
INFORMATION ARCHITECTURE
Craft a tailored journey for impact investors
With our research findings of existing products and specific requirements in mind, our team went through everyone’s ideas, sketched user flows, and their implementation feasibility. And eventually client and us settled on the following core functionalities of Sanctify, our mobile app for impact investing.
DIRECTION 1 - EXPLORE
A central hub for Discovering Impact Investment
The first major design direction is Explore page. It was born out of understanding whether user is an ordinary or impact investor, they all need to keep up with the latest market trends to make sure the securities or company they select is worth to invest. A key design challenge was to consider what specific information and investing steps users would emphasis to help them find the ideal security?
USER FLOW & CONTENT DIRECTION
Analyze User-Driven Impact Investment Strategies
According to the user feedbacks that we collected form the interviews, we proposed two types of user-driven investing strategies, each accompanied by its corresponding user flows:
The first type is Impact- Oriented, where users typically exhibit a strong preference for one of our FFV (Faith, Social, or Environmental) categories. They balance their financial return and evaluate the risks only if the security or company meets their values or goals.
Second type is Financial-Oriented. As a more conventional flow, the primary focus is to maximize financial returns without necessarily considering the social or environmental implications of their investments. Investors in this condition are particularly interested in the factors such as market trends, profitability, and risk management when making investment decisions. While social impact may be taken into account to some extent, it is a relatively smaller consideration in comparison to financial performance.
The first type is Impact- Oriented, where users typically exhibit a strong preference for one of our FFV (Faith, Social, or Environmental) categories. They balance their financial return and evaluate the risks only if the security or company meets their values or goals.
Second type is Financial-Oriented. As a more conventional flow, the primary focus is to maximize financial returns without necessarily considering the social or environmental implications of their investments. Investors in this condition are particularly interested in the factors such as market trends, profitability, and risk management when making investment decisions. While social impact may be taken into account to some extent, it is a relatively smaller consideration in comparison to financial performance.
Empower all users to discover the right securities
Both conditions can lead to a completely different user flow and content direction. Our goal is to adapt all the scenarios and help users discover the right securities based on their preferences and investment approaches.
As users enter our Final Prototype, there are three main sections: FFV scorecard Collections, Market Movers and Sectors. For the FFV collection, the Impact-oriented user is presented with a series of pills that correspond to a socially responsible or environmentally conscious theme. For the Financial-oriented users, we also provide Market Movers, allowing them to discover the top gainers and losers of the day. They can also explore promising sectors and industries that align with their investment knowledge or familiarity.
As users enter our Final Prototype, there are three main sections: FFV scorecard Collections, Market Movers and Sectors. For the FFV collection, the Impact-oriented user is presented with a series of pills that correspond to a socially responsible or environmentally conscious theme. For the Financial-oriented users, we also provide Market Movers, allowing them to discover the top gainers and losers of the day. They can also explore promising sectors and industries that align with their investment knowledge or familiarity.
DIRECTION 1 - STOCK DETAIL
Refine the Stock Detail Page for Enhanced Experience
To validate our design direction, we conducted tests our early prototype with 5 users. One of the major complaints we heard about was Stock Detail page. Users visited this page for various purposes; some expected to have a quick glance at FFV Screen results while others wanted to check the statistics and review the fundamentals. However, the previous design was required users to scan the entire page to look for the specific information they need. This Overloaded information caused complexity and inefficiency for the interactions. Moreover, from a business perspective, users were more likely to drop off before they engage with our key features like Screen and Transaction.
Simplified Navigation makes big changes
To leverage the conversion rates and enhance the browsing experience, we organized our content into navigation headers, allowing users effortlessly explore the topics that interest them. As a result, users transitioning from the Screen Page can now easily access the related Information, including stock Statistics, Transaction and News . This streamlined approach empowers users to make comprehensive impact investment much faster and with greater ease.
DIRECTION 2 - FFV SCREEN
Help investors evaluate investments with their values
The second major feature is FFV Screen. It is the heart of Sanctify where Users can conduct searches for securities by their names or tickers, enabling them to identify weather the selected investments resonate with their social and environmental preferences. The goal is to build a transparent evaluation system, helping users to understand the actual impact of their choices and create positive change through conscious investing.
ITERATION & TESTING
Introduce Faith and Family Values (FFV) screen set
For the MVP version, client offers FFV scorecard (faith & family) as the rule to do screening. Based on the United States Conferences of Catholic Bishops, it is a formal investing guidelines centers around these six themes and twenty-one topics. Users could use FFV scorecard as a standard to determine if a security aligns with their values and make confidential impact investments in Sanctify.
version 1: Screen Report Feature and 3 major Challenges
For the first version, we propose Screen Report feature , where users can search for securities by their names or tickers, curate their own screen list, and generate a comprehensive assessment . The screening result will help users understand whether selected investments align with their social and environmental preferences, empowering them to make well-informed and impactful investing decisions. However, during the course of our usability testing, we have identified three major problems with this version:
CHALLENGE 1 - AUTO SCREEN
Facilitate the Screen Process in an Intuitive Way
In order to simplify the user flow, we began to sketch ideas and recognized that the primary purpose of Screen feature is to enable users efficiently browse screening results. For average investors, there is no need to bundle the securities together to generate a screen report. Their main focus is on the securities they have invested in and are genuinely interested in. Therefore, without much debate, our team decided that a better approach would be to introduce an Auto Screen, directly syncing screening result of user’s Watchlist/ Portfolio and taking care of the majority of the tasks on users behalf.
Upon entering the Screen page, the user is presented with a series of selected securities. Each security is corresponded to its overall FFV screening status, including pass, fail and expired. Users can tap on these buttons to see a more detailed result indicating which categories and specific screens the security passes or fails.
Upon entering the Screen page, the user is presented with a series of selected securities. Each security is corresponded to its overall FFV screening status, including pass, fail and expired. Users can tap on these buttons to see a more detailed result indicating which categories and specific screens the security passes or fails.
CHALLENGE 2 - CUSTOM PREFERENCE
Simplify Customization for Empowered Control
If the new screen experience was to automates the heavy lifting on behalf of the users, we also need to help users effortlessly adjust the preferences of their existing securities, so they don’t have to repeat manual works and generate a new report when updating their values. In our final version, the screen results will be automatically generated based on the initial preferences set during the onboarding process. Users can easily to modify their screening criteria at any time through the filter page, providing enhanced efficiency and flexibility in managing their investments.
CHALLENGE 3 - SUBSCRIPTION
Offer quick & free experience to reduce reluctance
For new users, they need to unlock membership to experience our service. But we found out that the majority of users express reluctance towards subscription models. Among 12 testors, about 67% of consumers are tired of auto-renewal and complex cancellation process, and they prefer to try our service without committing a monthly trial, making it easier for them to evaluate what we have to offer.
To enhance overall experience and increase subscription rates, we optimized our current subscription model. Now, Users no longer need to enter their credit card information. Instead, they have five free trial opportunities, clearly indicated in a pop-up reminder. Once they reach the screen limits, users will suggest to a comprehensive subscription page to unlock full access to our services.
To enhance overall experience and increase subscription rates, we optimized our current subscription model. Now, Users no longer need to enter their credit card information. Instead, they have five free trial opportunities, clearly indicated in a pop-up reminder. Once they reach the screen limits, users will suggest to a comprehensive subscription page to unlock full access to our services.
DIRECTION 3 - HOMEPAGE
Guiding Investors Toward Impact Investing
The last major design direction is Homepage. It serves as a gateway to communicate the purpose of impact investing to a broad audience and guide users through the app's core features. Ultimately, the goal is to foster engagement, providing personalized experience and encouraging user to take action in impact investing.
ITERATION & TESTING
Bridge the gap between Returns & Impact
In the initial version of our homepage , the interface was primarily focused on displaying financial metrics, which aligns with the conventional approach seen in many fintech apps. However, when we look back, we thinks it is curial to revamp the homepage to showcase our unique product features, and helping users bridge the gap between financial returns and social impact. Additionally, client also want us to enhance conversion rates for the FFV Screen Page, implementing strategic design elements, such as prominent calls-to-action and data visualizations.
Layout Exploration: Strike the Balance between functionality & Aesthetic
Our team explored a variety of layouts to present both financial & impact metrics , including Horizontal Dashboard and vertical section. Through comparison, we discover that first layout, Horizontal Dashboard, offers for a broader view of metrics side by side, making it easier for users to scan. However, it could potentially introduce readability challenges, particularly when dealing with dense data. On the other hand, the second pattern provides better visual clarity and adaptability by dividing metrics into sections. Despite its advantages, this layout still poses an aesthetic predicament for first- time users because of excessive empty space, which lead to create a perception of inefficiency and unbalanced user interface.
OPTIMIZED HOMEPAGE
Emphasizes Design to Make Investing More Accessible
For our final version of our homepage, our team optimized the visual appeal of user interface, matching them with our vibrant band identity. Furthermore, we placed a strong emphasis on visual hierarchy for each element to ensure users can easily navigate to the right content; whether they're exploring buttons for current holdings in a flat design or engaging with the floating card pattern depicting screen statuses. We know that the traditional investment app has already been complicated and inaccessible for new investors, not to mention impact investing with screen features. so we we carefully integrate intuitive illustrations and icons for each visual components to make sure everything are labeled with understandable purposes.
In previous recommended content of homepage, we showcase the trending stocks with “perfect standard”, but our group convinced the team to strip away that generic experience. Instead, content of homepage need to adapts to users interests and curate based on customization, providing suggested content according to their preference investment and FFV Screen Set.
In previous recommended content of homepage, we showcase the trending stocks with “perfect standard”, but our group convinced the team to strip away that generic experience. Instead, content of homepage need to adapts to users interests and curate based on customization, providing suggested content according to their preference investment and FFV Screen Set.
REVIEW & TAKEWAYS
Collaboration towards Success
As a Product Designer, I was involved in every aspect of the product development process: from brainstorming the next product innovation to tweaking pixels before launch. The 2023 IF DESIGN AWARD is a great recognition for our team’s collaborative efforts in making investing more accessible, inclusive, and personally resonant. I’m proud that I have contributed to this achievement and witnessed how sanctity empowers individuals to create meaningful impact in the world while optimizing their financial returns.
What I have learned...
With years of evolution, the Fintech market has become more mature, leading to a convergence of Interfaces. As designers,our team often find ourselves influenced by existing products and their “best practices “. However, no two brands possess the same fingerprint; In order tostand out, it's essential to establish a distinctive strategy and brand identity.
In our design process, we draw lots of inspirations from Robinhood's user-centric design philosophy, emphasizing simplicity and ease of interaction to make investing accessible. Simultaneously, we are actively exploring features that align more closely with our unique product characteristics. Our aim is to ensure that the FFV Screen does not become a burden or a stand-alone feature. Instead, it should provide added value without compromising the investment returns and offer a more engaging experience to attract not only faith-based users but also a broader audience of everyday users.
In our design process, we draw lots of inspirations from Robinhood's user-centric design philosophy, emphasizing simplicity and ease of interaction to make investing accessible. Simultaneously, we are actively exploring features that align more closely with our unique product characteristics. Our aim is to ensure that the FFV Screen does not become a burden or a stand-alone feature. Instead, it should provide added value without compromising the investment returns and offer a more engaging experience to attract not only faith-based users but also a broader audience of everyday users.
