The Fixxed app; a single place to find, make and manage fixed deposit investments.
In India, Fixed deposits are the safest way to grow savings, yet they’re mysterious and confusing.
Looking up, learning and comparing options, or setting goals, is very time consuming.
The industry is jargon-heavy and full of proprietary terms that differ across institutions.
All this is very intimidating and tedious at least for an entry-level investor.
Traditionally, fixed deposit offerings targeted middle to older age investors looking for safe havens. Since Fixxed would be age-agnostic, new user outlines were needed.
First Timer
(Aspiring Investor)
Isn’t as knowledgeable about investments.
Wants to build wealth without losing money.
Extremely cautious with their savings corpus.
Will trust services that let them explore, learn.
Early Stager
(Novice Investor)
Understands the basics, made cautious forays.
Aims to eventually attain financial freedom.
Early-career, doesn’t have a lot to invest.
Open-minded, wants a simple experience.
Savvy Planner
(Mature Investor)
Spends a significant amount of time investing.
Has clear goals, targets; actively researches.
Looks to balance safety and risk in their portfolio.
Expects insights and snappy service.
Wise Veteran
(Seasoned Investor)
Investing is integrated into their lifestyle.
Far along into their saving journey.
Performs frequent portfolio re-balancing.
Usually transacts through an intermediary agent.
Wireframe
Iteration 1
Final
A guerilla user survey was taken to understand how they would approach researching, comparing and investing in fixed deposits. Insights from this activity were then categorized as user goals. The focus was to align the goals behind developing Fixxed, to the user’s goals.
Confusion around amount, tenures and interest rates
Difficulty matching and comparing terms
Difficulty tracking multiple fixed deposits