M U T U A L F U N D S A P P


INTRODUCTION : -

A mutual fund is an open-end professionally managed investment fund that pools money from many investors to purchase securities. These investors may be retail or institutional in nature. The term is typically used in the United States, Canada, and India, while similar structures across the globe include the SICAV in Europe (‘Investment Company with variable capital') and open-ended investment company (OEIC) in the UK. Mutual funds have advantages and disadvantages compared to direct investing in individual securities. The advantages of mutual funds include economies of scale, diversification, liquidity, and professional management. However, these come with mutual fund fees and expenses. Mutual funds are often classified by their principal investments as money market funds, bond or fixed income funds, stock or equity funds, hybrid funds, or other. Funds may also be categorized as index funds, which are passively managed funds that match the performance of an index, or actively managed funds. Hedge funds are not mutual funds as hedge funds cannot be sold to the general public.

Mutual Fund App gives you access to your investments across multiple mutual funds. Investors can schedule transactions, change their default bank. In India the Mutual Fund Industry started in 1963 with the formation of Unit Trust of India (UTI) by an Act of Parliament and functioned under the Regulatory and Administrative control of the Reserve Bank of India mandate, track and manage their portfolio, open a new folio and update FATCA, submit additional purchase, redemption and switch instructions.

A single mutual fund may give investors a choice of different combinations of front-end loads, back-end loads and distribution and services fee, by offering several different types of shares, known as share classes. All of them invest in the same portfolio of securities, but each has different expenses and, therefore, different net asset values and different performance results. Some of these share classes may be available only to certain types of investors.

Defining the Problem Currently, online mutual funds marketplace doesn’t provide enough information and education about the mutual fund products. Users who have knowledge about mutual funds were unaware about where and how to find a good place to invest their funds, as per their ability.

Even if a few of them do, users don’t know where and how they can find places to invest that match their investment capacity.



The Goal

Based on these problems, they realized their customers need a digital platform that can educate them and provide all the information needed to understand mutual funds.

Ideally, the platform will also enable them to easily buy mutual fund products that match their financial goals and of course, where they can monitor their investments.

Following that, the goal was to create a product that is user-friendly, not intimidating for beginners, and easy to use and understand by more experienced users — where they can buy and redeem mutual funds easily.



Persona

To start off, I created a persona that I could come back to throughout my project to guide my design decisions and priorities. Based on my understanding of people who I knew would use this app, I envisioned the ideal user to be thinking about his/her personal finances and want to achieve his/her financial goals.

Design Goals

Simple and understandable, customer needs to understand how mutual funds can help them grow their money in the app

Modern aesthetic-usability, creating a good experience with an aesthetic design yet useful and easy to navigate User Flow

In order to scope out the experience, I began to create the user flow to visualize the possible solutions for each scenario. Mapping out the experience helped me figure out where each feature should live within the architecture of the app and help me create the right product story. (The current app flow might be slightly different from what we designed initially, considering user needs and business requirements.)


Hand Sketching

Based on the user flow and user stories, I needed to pour all of my ideas in a rough black & white hand sketch wireframe. I had to gather around all the requirements in each page and arrange them in such a way to know what kind of information I should put in a page.

As you can see there’s a lot of sketches — I like to put down all my thoughts and ideas on paper first. I start by writing down all the information that needs to be included in one page, and then I draw and re-arrange them to place.

Sometimes I have to create several drawings to know which one works best. After I’m satisfied with the sketches, I usually put sticky notes to tag the page on my notebook so I don’t forget where I put them. The next phase is creating wireframes.

Wireframes

I created wireframes based on the sketches that I drew. We decided that the app will have 5 main tabs on the app: Dashboard, Portfolio, Create New Investment, Activity, and My Account.

Creating wireframes helped me arrange the interface elements while I focused on the functionality rather than appearances. When presenting wireframes to clients, sometimes they are unable to understand what’s on the page because of its low fidelity and they often are too focused on the action of command buttons. So I created a high fidelity wireframe with click-able prototyping and incorporated some color to show important statuses. It is easier to present to clients a wireframe with clear and detailed information.

Inspiration Board

Before getting started with the UI, I created a moodboard to learn about different UI patterns and to gather inspiration from other financial apps — both live apps and conceptual designs.


User Interface / Visual Design

Finally the most fun part of this case study: User Interface! Let me walk you through this.

CONCLUSION : -

Once the app was released we saw some great reviews for it. Having said that, we’re also aware there’s still room for improvement.

Users want more features and more mutual fund products. We’re excited to continue working on the feedback coming in from app users and continue helping them buy mutual funds with ease.



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