Nutmeg

Industry:
Role:

Fintech
UX/UI Designer

Nutmeg is a leading investment management company in the UK, offering a range of financial products through personalised investment portfolios for investors of all levels.

Our mission is to democratise wealth management by providing transparent and affordable investing solutions, empowering individuals to take control of their financial futures.

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Overview

Context

Investing can feel scary and users often feel overwhelmed when it comes to making investment decisions, particularly when they are new to investing.

In addition to this, the Financial Conduct Authority (FCA) set out new Consumer Duty regulations which require firms to suitably inform and educate their users.

How can we educate less experienced users to help them feel more confident?

Year

2021

Role

UX/UI Designer
(Research support, Wireframing, Prototyping, UI Design)

Context

Although Nutmeg has a lot of educational content, most of it is spread across the marketing website and other platforms (youtube, spotify), rather than on the app itself.

Only a small percentage of users interact with these platforms, therefore most users miss out on educational opportunities and news.

Research findings

From existing research

Research report by Frog (Capgemini Invent)

The four main takeaways from the report on how wealth managers can transform themselves:

Embrace entertaining experiences while reducing app fatigue.

Include educational tools that go beyond financial returns.

Validate users’ independent research with our expert context.

Incorporate new technology into our process with younger clients.

Nutmeg Census survey and research

Over 4,200 Nutmeg users surveyed and 20 interviewed

70.2% of Nutmeg users expressed some interest in more educational content

*In addition, we also conducted 1-1 interviews with 20+ Nutmeg users who were new to investing, to understand how we could help them to become more confident. We validated that educational content on the app would be useful.

Ideation

A workshop was held with stakeholders to collaborate together and come up with ideas and solutions.

Workshop participants

UX researchers

Product designer

Product managers

Content writer

Core goal

How can we educate less experienced customers to make informed financial decisions?

Opportunities identified

Cross-sell products

Stocks and shares ISA, Junior ISA, Lifetime ISA, Pension, General Investment accounts

Create a 'hub' for all existing educational features

Bring all Nutmeg educational material into one place

Address concerns to reduce withdrawals

Educate users on volatility and risk to reduce investment withdrawals

Promote tools/calculators/offers

Various additional marketing features available on the Nutmeg website

Personalised user experience

Tailor content to the users' needs/level of experience as an investor

Solution

Following the workshop, we decided on the solution

- 6 topics with 1 minute per topic

- Video per collection with a multiple choice quiz

- Starting with an 'Investment Basics' collection from new investors

What will it be?

Educational 'collections'

Where will it sit?

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- A new educational hub

- Combine all existing educational features (blog, offers, tools, calculators, podcast, guide)

- Promote cross-selling

User flow

The goal was to bring all the existing educational content into one place within the app and website and to able to feed this to users through educational collections in a digestible form, as well as enabling users to navigate this freely themselves.