Ares is the product of a 24 hour, organization-wide design competition in partnership with Earnest & Young. Teams were assigned at random and consisted of data analyst, developers, digital marketers, UX designers and EY consultants. Our challenge was to identify a problem and build an innovative digital solution to help a business attract a new market segment.
Project Type
UX/UI Design
Timeframe
June 2021
Methodology
Data-driven insights, Marketing Strategy, Wireframing & Prototyping, Product strategy, Branding
Define the Problem
Banking is facing a digital revolution with changing demographics.
Disruptive FinTech
The banking industry is struggling to compete with FinTech companies.
76%
traditional banks are fearful of FinTech
Millennial Market
Millennials are a growing market segment that banks are losing out on.
73%
In America,
Most populous group
Modern Investing
Retail investors want a personalized experience when investing.
88%
want personalized recommendations
The How Might We
How might we create a digital solution for the retail banking industry in order to attract millennial investors who value experience first?
Innovation
Ares will bridge the gap between simple investments and innovative complex business products.
Experience
Ares will create a seamless and personalized investing experience for retail investors thats assists banks, financial planners and brokers sell investment products.
Diversity
Ares will not only appeal to untouched market segment investors, but will also create opportunity for our business partners to better pitch and provide financial products to the right target groups.
Simplicity
Ares will simplify the retail investment banking industry but creating a seamless connection between personality and preferences and investment decisions.
User Persona
First, we created a user persona that represents the core attributes of a person in our new market segment: a middle-class, financially stable millennial.
Key Features
Then, we selected the key features for Ares with the goal of attracting millennial investors looking for tailored services
Digital Banking
A digital application that asks users a list of questions to understand their investor persona.
Behavioral Science
Using behavioral science and AI/ML to predict investor preference
Tailored Solution
Offer best-fit recommendations to maximize investment traffic and customer satisfaction.
Task Flow Diagram
Get a personalized investment portfolio
Wireflow
Get a personalized investment portfolio
High-Fidelity Prototype
Form partnerships with big banks and present Ares as a Software-as-a-Software (SaaS)solution
Tailor solutions to product portfolio of client banks
Support banks in identifying investment products that attract millennials (cryptocurrency, green bonds, tech stocks)
Levy commission fees based on generated sales of investment products
