INDmoney (serving since April 2019) is a wealth management platform for High Net-Worth Individuals and their Families which leverages Machine Learning and Artificial Intelligence to track and organize their Expenses, Investments, and Liabilities. INDmoney also provides a subscription-based wealth advisory service i.e. INDmoney Gold which helps you and your family with unlimited consultation with Investment Proposals, Portfolio Improvements, Risk Assessments, Financial Tracking, and Taxes.

Below will be my thought process for this case -

Let me list down the assumptions, that I’ll be making for aligning my thought –

• We are focusing on the mobile app only (i.e. INDmoney) i.e. iPhone and Android Platform

Goals –

Let’s deep dive in understanding the why for this improvement below are some of the back questions -

• Is the current funnel for adding family members is too long?
• Is the current funnel for adding family members is taking too much time?
• Are users not able to discover the flow?

I think the goal for this improvement should be “Maximize the number of family member signups” as users with their family members on the app can find more value from INDmoney Gold wealth advising service and thus can be a good driver for “Conversions” for INDmoney gold subscriptions.

Keeping that goal in mind, Let’s talk about the user personas –

User Personas -

Below are listed user groups/personas that I can think off -

• High net-worth households
  • The Families with a combined net worth are about 25 CRs i.e., about .06% of the entire households in India i.e., about 286K households. Typically, our Medium Sized Business owners, C-level Executives, Expert Physicians, and Politicians live a luxurious life.
• Upper Middle-Class Households
  • The Families with a combined net worth of about 1-10 CRs i.e. 1% of the entire households in India i.e. about 5 Million households. Typically, our Small Sized Business owners, Doctors, Engineers, and Bureaucrats can afford a luxurious life.

I would like to focus on the High net-worth households’ user persona as this is where INDmoney’ s main target audience and product-market fit lies.

How it works, Currently -

Users can set up family accounts using the top action button which has the user’s name. Which Opens the Dialog Box where the user can add new members. Then the user has to choose the type of account i.e. –

• Family Member