This project was created with a wealth advisory services company, 360F, in conceptualizing an interactive online activity that helps customers understand their ability to take risks. As this was a team-based project, I was largely involved in the User Research and User Interface design roles.
To respect the client’s wishes, only work that was created solely by the team has been included. The work expressed here is primarily, the views of our team and may not reflect the views of 360F.
Working with a client, our team of 3 had to come up with a User Interface design. The design had to be built upon pre-set scenarios that have been provided by the client to represent ways in which people need to make decisions that largely involve risk-taking. For example, if they were to choose between two options where one of them would entail more risk (but a higher reward) as compared to the other option. The main goal was to get users to understand the financial risk-taking scenarios which will increase their awareness.
As only one of us was experienced in the field of banking and finance, it did pose a bit of a challenge initially to really understand some of the terms or objectives of the brief. However, we had managed to be well-versed enough to conduct our User Research and testing. This project had exposed and contributed to my understanding of some financial / insurance practices.
We had to fully understand the requirements of the client beyond what was provided in the brief. Having two meetings, one at the initial kick-off and during the first week allowed us to have a better grasp of what we needed to do.
This risk profiling activity was to be tested on 4 different types of users, which was previously determined by the business. The user types were based on the degree of their financial knowledge and experience.
Our team had tested some pre-designed screens that had a rough representation of several risk-related scenarios. This was to look at how much users can understand existing concepts of loss/return relationships and if they had any comments on the user interface design.
We interviewed users on their financial behaviour and knowledge as well as their understanding of what ‘risk’ means to them and how it relates to their personal lives.
Based on the 4 user groups that were initially identified and synthesising research that we collected, our team had come up with 2 main personas, a primary and secondary. The Primary Persona is the ‘Curious Beginner’ - and which combines the 2 Baby and Open user types. The Secondary Persona is the ‘Informed Veteran’
Conducting a design studio session with the clients had been fruitful to getting a better grasp of what their needs are, as well as fostering a collaborative approach to the design direction of the User Interface.
Based on the results from our Design Studio session with the client, we have come up with a few design ideas that we had to test out. With a total of 3 different kinds of scenarios, the Attitude to Losses, Attitude to Uncertainty and Investment Temperament and different methods that we have conceptualised, we decided that we needed to validate the different designs to see which would be the most understandable to users.
Based on a post-test survey using the System Usability Scale (SUS) assessment, we were able to come up with a design that was the most easily understood and usable.
Choosing the design with the highest SUS, we made further refinements and presented these to the client.
Thanks to the team, Kelly Koh and Jonathan Quah, and our client 360F for making this a great learning experience!