Angie N. Tran's Portfolio
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Summer Internship 2018 at LearnVest/ Northwestern Mutual

FinTech Customer Facing Product Development

Summer 2019 Internship at LearnVest | Northwestern Mutual

 

Scope: 10 weeks / 2 projects
Categories: UX Design & Strategy, Data Analytics, UX Research, Wireframing, Usability Testing
Advisors: Billy Snow (UX Lead), James Perakis (UX Designer)
Role: UX Designer working in a team together with 1 PM, 1 UX Lead, 2 Copy Designers, 2 Visual Designers & 1 Tech Lead for each project.

 

OUTLINE:

  • Project 1 / REGISTRATION FLOW

  • Project 2 / SUMMARY PAGE

  • Side Project / SUMMARY PAGE 2.0

  • Internship PERFORMANCE REVIEW

TYPES OF USERS:

  • FR: Financial Representatives contracted with Northwestern Mutual (NM).

  • Prospect: approached by an FR but has not bought any NM product (insurance or investment) yet.

  • Client: owns product(s) provided by NM.

  • NM Home Office: NM’s administration & financial planning departments.


 

Project 1
REGISTRATION FLOW

THE CHALLENGE

When I got on the project, the team was working on a new version of the registration flow. I was responsible for iterating the user experience based on the new visual design.

To understand better the issues of the current flow, I coordinated with the PM to surface previous research findings and data analytics. Additionally I talked with technical, security and legal teams to learn about possible constraints and considerations to be aware of when designing the flow.

THE OUTCOME

I then presented my data-driven design suggestions to the team, collaborated with the Copy designers to create wireframes based on this new approach, and supported the visual designers with new updates.

 
 
 

PROCESS

1. Understand the project scope

  • Meetings with PM and Tech Lead to learn about the short-term (refresh version rolled out in August 2018) and long-term plans (eliminate Security Question by March 2019) of the product development.

  • Meetings with UX Lead and visual designers to learn about UX goals of the product, previous design decisions and visual style.

  • Since part of the product was integrated in another product owned by the Marketing team, I facilitated the coordination of the two teams.

Registration Starting Points

Registration Starting Points

2. Research Findings

  • Not all users can access the registration flow directly on the website. The prospect can only register from an invite email sent by their FR. I created journey maps of different user types to design variations of the flow.

 
 
 

3. Data Analytics

80% of total registrations came from the NM.com Client Registration flow. However, the current abandonment rate was about 60-70%.

 

Data analytics of NM.com Client Register screens

 

Here’s why ›

 
 

Screen 1 › Screen 2: 70% drop-off

 
 
On the left: Clients are asked to input their account “product number” to setup an online account. On the right: To find this number they had to refer to documentation received physically which uses a different terminology, referring to the number as “policy number” or “account number.”

On the left: Clients are asked to input their account “product number” to setup an online account.
On the right: To find this number they had to refer to documentation received physically which uses a different terminology, referring to the number as “policy number” or “account number.”

Often when users were attempting to log in they would accidentally start the registration process because of the proximity of the register button to the log in link and because of its eye-catching color which made it seem like the primary CTA.

Often when users were attempting to log in they would accidentally start the registration process because of the proximity of the register button to the log in link and because of its eye-catching color which made it seem like the primary CTA.

 
 

Problems

  1. Copy too minimal and vague

  2. Users can only get their “product number” either through physical mail, directly from FR or NM Home Office.

  3. Register button to prominent causing accidental registration when user only wants to log-in.

Solutions

  1. Make copy clearer, describing in more detail what the “product number” is and where it can be found

  2. Allow users to register for an online account without the “product number.”

  3. Make the CTA to initiate registration and to log-in more clearly distinguished.

 
 

Screen 2 › Screen 3: 14% drop-off

 
 

On screen 2 users are asked for their legal first & last names.

 
 

Problem

Users were required to input precisely the first name that they gave to their FR. Based on the Customer Service call analytics, users reported that they often forgot which variant of their first name they provided to their FR. They were confused if they gave a shorter version of their first name or a nickname.

Solution

Confirmed with the technical & security teams that it’s feasible to only ask for their last name.

 
 

Screen 5 › Screen 6: 30% drop-off

Pop-up error window after screen 5 was displayed if at least one input from the previous screens didn’t match the system records.

Pop-up error window after screen 5 was displayed if at least one input from the previous screens didn’t match the system records.

 
 

Problem

After four screens, if any of the input did not match the system records, the user had to go back all the way to the first screen. Due to security reasons, the system could not show which input was incorrect, which caused frustration to many users.

Solution

Worked with the security & legality teams to get permission to have all the required input fields in one screen.

 
 
CXIDslides18.jpg
 
 
 

4. Design Iterations

  • Created wireframes by collaborating with copy designers.

  • Ideated solutions to drive more traffic to registration by leveraging current touch points (Marketing emails, Billing & Payment emails, FR invite email).

 
 
 

5. Product Development Tracking

  • Created a visual tracker of development progress for greater team sync and to facilitate on-boarding of new team members. This tracker was updated after every team meeting. See below.

 
Visual tracker of development progress

Visual tracker of development progress

 

 

Project 2
SUMMARY PAGE

*Summary Page: the first page that the user is taken to after a successful log-in.

THE CHALLENGE

Design the user experience of the Summary Page for both prospects and clients. Develop a thorough understanding of the company’s upcoming milestones, ecosystem (in terms of cross collaborating with other product teams) and core financial technology (Blazewater Plan).

THE OUTCOME

Two design concepts that integrated a financial planning technology (Blazewater Plan) to provide prospects and clients with personalized financial information as well as upsell NM products.

 

DISCOVERY FROM MEETINGS WITH OTHER PRODUCT PMs

Research constraints

  • Prospect data is limited due to legal restrictions.

  • Can not access clients for research that have already signed up for the plan.

NM is moving toward being Plan Centric

  • All FRs will have access to Blazewater Plan (new technology for financial planning) in October 2018.

  • Predictive Planning and Wellness Score, features of the Blazewater Plan, will be implemented on NM.com by end of year. 

Currently, users spend 80% of their time on the Summary Page (approx. 5-8 minutes).

 

INSIGHTS FROM USER RESEARCH

Goals that should be considered for Summary Page:

  • Help prospects cultivate relationship with their FRs, thus build trust.

  • Help growing clients get a snapshot of their finances, including projection & plan for retirement.

  • Use content as navigation to other features and products.

  • Provide content that fits their needs (contextually & personally).

  • Upsell our products in an organic way.

 
 

HOW MIGHT WE utilize financial planning technology to upsell NM products to prospects & clients who don’t have a plan yet?

 
 

DESIGN CONCEPTS


Concept 1—Wellness Score Pre & Post-plan

(Before & After the user has signed up for the Financial Planning service)
Since Wellness Score is a new concept, it’s strategically introduced to the user at an early stage then later becomes a tracker of their financial performance.

 
 
 
 

Concept 2—Fact Finding in Disguise

Intrigue the user to play with the sliders, which will feed their financial and personal data into the system. Introduce them to the Wellness Score in a playful way, also encourage them to reach out to their FR.

 
 
 
 

 

Side Project
SUMMARY PAGE 2.0

THE CHALLENGE

The insights from the user interviews shed light on another way to approach the design of Summary Page, by considering the relationship between the users and their financial advisors and how it would evolve in the future.

THE OUTCOME

Presented strategies on how to leverage the Summary Page to support the engagement between the prospects/clients and their financial advisors to two product teams, one working on customer-facing and the other on internal products.

 
 
 

A SERVICE = TWO-SIDED RELATIONSHIP

 
 

HOW MIGHT WE leverage the Summary Page to support the engagement between the prospect/client and their FR?

 
 

STRATEGY CONCEPTS


Strategy 1—Personal Preferences › Relevant Content

 

INSIGHTS FROM USER INTERVIEWS

I will be interested in…

Whatever financial topics the participant shared they would be interested in at the beginning of the interview, they focused on looking for that information on the Summary Page prototype.

Opportunities:

  • Collect information about demographic and personal interests (before the first Fact Finding meeting).

  • Additional goals for prospect experience:

    • A personalized Summary Page with strategic content.

    • Help FR develop emotional connection with their prospects.

    • Store the data on the central system.

Opportunities

  1. Provide samples showing how the Summary Page would look like after the user provides their financial information.

  2. Communicate NM’s value propositions: What NM can do for me; What NM’s expectations for me (Sale Cycles, fees, etc.); Transparency.

Other insights

  1. “I have never seen this before, all financial products in one place.” It’s hard for the user to grasp the concept of the Summary Page right away.

  2. What differentiates Northwestern Mutual (NM) from others?

[Left] After a successful registration, an onboarding screen will pop up asking the user to input their personal interests and preferences. [Right] Those data then will be used to surface relevant content to the user on the Summary Page.

 
 
 
 

Strategy 2—Custom Fact Collector

 

CHALLENGES SURROUNDING FACT COLLECTION TODAY

  1. Collect facts on paper or with e-factfinder (on tablets) incomplete or difficult to read.

  2. Missing facts are typically collected via multiple rounds of emails › not secure, not trackable and time consuming

 

PROPOSAL

A custom Fact Collector that helps FR collect facts more efficiently, at the same time encourages users to engage with the Summary Page.

  • Save time & efforts

  • Secure

  • Reduce human errors

 

SUCCESS METRICS

  • Prospect’s engagement time with the content on Summary Page.

  • Conversion rate (Prospect › Register for an account).

 

FUTURE DEVELOPMENTS

The custom fact collector helps to facilitate communication between the client and their FR throughout the evolvement of their relationship. Additionally, it supports FR and the company’s home office to run their business more efficiently.

 

WIREFRAMES

 

[First two screens: The FR view] The FR gets notified which facts from their clients are missing. They then use the fact collector to send out fact finding requests which will show up on the Summary Page of their clients [last screen].

 
 

 

Internship PERFORMANCE REVIEW

 
 

© Ngoc Tran 2019