Note: the case study is under constrction - coming soon
Identifying the financial and investment behavior of the people and helping them find real investment opportunities and allying with other people to participate in investment and share profits, save and spend their money safely via ClanFund Application | UX Research & Design case study.
This case study will tell you in detail how you went through the entire process to understand the financial and investment behavior and experience of ordinary people who want to invest and do not have the financial ability or practical experience in the investment field. To the people trying to raise and save money and how we solved their situation from a social perspective.
Note: This project is done for a startup based in Paris and I worked on this project as a freelancer and my role was UX researcher, UX designer, Problem Solver. I tried to cover all the necessary details for the whole UX process in this case study and the project is now in the development phase and I will share the app link when it is available in the stores.
ClanFund is a digital e-investment platform where people can invest and raise funds easily together.
Create groups from your family and friends and the community around the user, to help them invest money together for personal and business purposes and make profit together.
The idea of a clan is that it is an agreement between a group of people that each of them pay a certain amount together to participate in investment opportunities that no one person can invest in or even invest in a small business or start-up company. Or even collect or save money in an innovative social way and open a new path for a new generation of investors
So far most of the solutions focus only on the typical crowdfunding process and there is a huge gap in the investment opportunities and the middle class of the society. in other words, bringing the investment world to the public and empowering them.
People are now recovering from the pandemic and are more and more interested in their money and the need for a financial solution to help them save, raise and invest money easily to finance small projects, and the ability to participate in investment opportunities such as real estate, for example, or start-up companies that may bring them profit without risks in order to reach financial freedom or have a life Better and at the same time they need all-in-one banking services without the complicated process.
This project is focusing on the social aspect of the financial process and the business Idea is all about letting the people cooperate with each other to achieve their money goals
Here are the different stages I followed in this project,
1. Understanding the Business & Research Problem Statements.
2. Secondary Research
3. Primary Research
4. Research Analysis
5. Re framing the user challenges using ‘How might we’ questions
6. Ideation & Wireframing
7. UI & Prototype
8. Testing
“If I had only one hour to solve a problem, I would spend up to two-thirds of that hour in attempting to define what the problem is.” - Unknown professor at Yale University
Who can benefit from solving this?
- People who are willing to invest but they don't have the ability (Real Estate, starting a small business, finance life small activity, etc...)
- Startups co-founders who looking for new money streams to develop their ideas.
- The individuals and the pioneers in investment sector.
What other aspects may influence the users while making the money decisions in this situation?
- The conditions and aspects may differ from person to person like budget issues, work-related, etc.
What is the ultimate goal here?
- To provide safe trusted environment for the users who want to share their money with the others and make them enter investment sector as much as possible.
When did the problem start to occur?
The main audience for this app will be groups of young people aged 14-35 and families with children aged 14-19 millennial user base. and small business owners and humanitarian organizations.
insights from 6 user interviews
As the only UX designer for this project, I conducted multiple user interviews sessions with the target audience
Millennials are looking for financial independence, especially at the university level, and sometimes they work in several jobs to raise some money to pursue their passion and open their own business at an early age and they are open to innovative solutions in the field of social finance that may help them reach their goals quickly without falling into the trap of loans
" I want an innovative solution to save money and use it in my next project "
" I am currently working in the field of design and freelance work and the development of my tools is a key point of development, but the problem is the high price of these tools "
" I have a small business producing handmade accessories and I want to expand my business without having to borrow "
" I want an all-in-one financial solution that I can use daily without having to go through all the complicated banking process "
A standard on-boarding process that gathers the important information about the user with id verification with a third party and takes no longer than 5 mins to increase the security and limit the frauds attempting
Create Clan from your family and friends and the community around the user, The clan association has many types according to the time period for receipt and payment,
Join a clan in order to raise money with the ability to search for nearby clans using the map or standard search with the possibility of filtering
The possibility of linking bank cards with the user's account on the application to make basic payments and transfers
A virtual bank card from the application that the user can use daily and can be linked with other payment services
Focus on the social perspective of the application by inviting friends to participate in a clan or social pushes
The key point was to get feedback as soon as possible from our users and iterate based on this feedback.
After defining out some of these more complex flows, I felt more confident moving forward turning these into low-fidelity solutions
I draw sketches of the key functionalities, tested with 6 users, and reiterated on them
I loved working with the ClanFund team on this project. And I establish a long relationship with them, they certainly gave me quite a bit of flexibility as far as design direction goes. I worked autonomously, and I think this project was really successful. More projects should be like this one was!
