A digital experience for people new to investing.
ASB Wealth Central enables customers new to investing to overcome their hesitations about getting started and better understand their investment options. It also allows more experienced investors to manage their portfolios in one centralised location.
Challenge.
Many New Zealanders see investment as complicated, risky, requiring significant funds or a personal investment manager. ASB wanted to build confidence in investing with more of its customers – and enable customers to develop this understanding without having to speak to an adviser.
Many New Zealanders see investment as complicated, risky, requiring significant funds or a personal investment manager. ASB wanted to build confidence in investing with more of its customers – and enable customers to develop this understanding without having to speak to an adviser.
Solution.
Using a human-centred design approach, we worked with ASB to understand the needs of customers and design the solution. As well as displaying current information about their portfolio, providing guidance on investing the solution helps customers develop confidence in investing through ‘trying out’ investing in a no-risk online tool.
Using a human-centred design approach, we worked with ASB to understand the needs of customers and design the solution. As well as displaying current information about their portfolio, providing guidance on investing the solution helps customers develop confidence in investing through ‘trying out’ investing in a no-risk online tool.
Impact.
The project enabled ASB to deliver a new online tool, define a roadmap of future enhancements and prioritise its investment on what will provide the most value to customers. Early feedback and usage statistics exceeded expectations.
The project enabled ASB to deliver a new online tool, define a roadmap of future enhancements and prioritise its investment on what will provide the most value to customers. Early feedback and usage statistics exceeded expectations.
Customer outcome
ASB Wealth Central is available to all customers with Internet Banking. For people new to investing, it helps them to understand the different investment types available and how an investment might work in the context of their available funds. For more advanced investors, it is a tool for viewing their entire portfolio and considering additional or alternative investment types.
Experience research helped ASB to better understand customer needs, behaviours and preferences in regard to investing. Concept generation and validation helped to define priorities for developing a new digital experience.
Digital Experience
The ASB team agreed to the priorities for the digital experience – informed by the experience research – and an extensive set of features and components were generated, prototyped and tested with customers. This phase of work was completed in nine weeks – providing the ASB team with a large backlog of prioritised features, functionality and a roadmap for implementation.
Design System
The components delivered extended the ASB design system and enabled the ASB teams to implement effectively and efficiently. Throughout the process, we worked alongside the ASB team, providing capability and specialist expertise to help support and enhance internal resources.
Project Summary
Client: ASB
Project: Wealth Central
Completed: 2017
Awards: Best Awards 2019 / User Experience Empowering Finalist
Activities: Customer Research, Customer Experience Design, Prototyping, Customer Validation, UX Design, UI Design, Design System Production