ROLE
Product Designer
DURATION
8 weeks
TOOLs
Figma, Miro, JIRA
SKILLs
Research, Affinity Mapping, Visual Design
CONTEXT
Kotak Cherry is a platform by Kotak Bank that allows users to invest in mutual funds. With a user base of over 2M people from across India, the older UI felt outdated and wasn’t intuitive enough for users to easily make investments or set up payments. It also wasn’t visually appealing and was especially difficult for first-time investors to understand.
We decided to redesign the buy journey to make the app more intuitive and easy to use, while adapting to a new design system. I conducted the research solo and collaborated with 2 other designers to wrap up the visuals.
HOW DOES IT WORK?
User selects a
fund to explore
Fund details
are displayed
User clicks
"Buy Now"
User reviews
details
User makes
the payment.
Investment
is complete.
DATA
Based on our data, we have approximately 1,000 users logging into our app daily on average.
900 show interest in purchasing a mutual fund by spending time on the details page.
500 users click the 'Buy Now' button and proceed to the Buy page.
Only 10 users successfully complete their investment.
This results in a drop-off rate of approximately 98%.
UNDERSTANDING THE PROBLEM SPACE
We asked our users to walk us through their buying journey and share their thoughts along the way. This helped us uncover key problem areas that hindered their experience.
DESIGN QUESTION
How might we streamline the buying process to enhance user satisfaction and reduce friction?
PRIORITY MAPPING
In this exercise, we surveyed a group of 60 users to rate each feature on a scale of 1 to 5, with 1 being the least important or least used and 5 being the most important or most used. Here's what we found out:
Feature name
Both
Feature goal
It’s an investment option that enables users to invest in both lump sum and SIP simultaneously, with the flexibility to use different amounts for each.
Feedback
52 users rated this feature 1 out of 5.
They found it confusing and hesitated to proceed, as it wasn’t common in competitor apps.
Users struggled with payments due to the different procedures for SIP and Lump Sum.
Feature name
Folio
Feature goal
A folio number is a unique ID for each mutual fund investment, allowing users to create their own folios for better money management.
Feedback
35 users rated this feature 1 out of 5.
Some users reported confusion about the meaning of "folio," while others found the feature unnecessary, preferring to see their investments grouped together in one place rather than divided separately.
REDESIGN GOALS
Quick and Easy investing.
Enhance discoverability of the the main investment modes.
Reduce redundancy by focusing on essential information that directly impacts user understanding.
Simplify navigation ensuring that every step of the process is intuitive for our users.
FINAL DESIGNS
Keeping our design goals in mind and after a lot of iterations, we came up with the following designs.
BUSINESS OUTCOMES
The redesign simplified the user experience, resulting in measurable business improvements:
Smoother transactions increasing total investments by 20% in a quarter.
Reduced drop-offs by 32%, keeping users engaged through the process.
13% rise in average investment per user.
LEARNINGS
More is not always good.
Having an abundance of features doesn't necessarily improve the user experience. Many of our features were left unused because they weren't aligned with user needs.
Features must be intuitive and user-friendly, focusing on the actual needs and behaviors of users to create meaningful value.