UX STRAT Europe, Alberta Soranzo, “Strategic Goodbyes: Designing the Investment Experience for Humans”

STRATEGIC GOODBYES
ALBERTA SORANZO
@albertatrebla | tobiasandtobias.com
D E S I G N I N G T H E I N V E S T M E N T E X P E R I E N C E F O R H U M A N S

A.T. Kearney
Robo advisors are providers that offer automated,
low-cost, investment advisory services through web-
based and/or mobile platforms.

RISK PROFILE
ALGORITHM
PERSONALIZED
INVESTMENT
PORTFOLIO
REBALANCE
Oh, I know!
I’m going to enroll in a robo-advisor!

RISE OF ROBO-ADVISORS
0
750
1500
2250
3000
2012 2013 2014 2015 2016 2017 2018 2019 2020
2 4 17 50
300
500
900
1,500
2,200
SOURCE — A.T. Kearney

STARTUP
SOUTH AFRICA

Help low-income population change their ﬁnancial
outlook by saving and investing for the future.
startup

EUROPEAN BANK
NORTHERN EUROPE

Steer HENRYs* toward investment and asset
management services. Make them save and invest,
with us.
T1 bank
* High Earning Not Rich Yet@albertatrebla | tobiasandtobias.com

MAKE US A PRODUCT

EXPERIENCE DESIGN APPROACH
Empathise Define Conceptualise Evaluate Deliver
Understand Ideate Create

STRATEGIC EXPERIENCE DESIGN APPROACH
BRIEF VISION/PLAN SOLUTION

BRIEF VISION/PLAN SOLUTION
STRATEGY EXECUTION
STRATEGIC EXPERIENCE DESIGN APPROACH

FUTURE YOU

David DeSteno
Can the present you trust the future you?

Trust contains an element of risk.

INVEST WITH EASE
AIM
I want a simple investing
experience that will allow me to
buy my first home
• Recent university graduate
working in first ‘real’ job
• Prefer a ‘digital only’ and
engaging experience
• Financially undisciplined
• Willing to delegate decision-
making to a trusted partner
ABOUT ATTRIBUTES REQUIREMENTS
• Need to understand benefits
and safety at a high level
• Strong guidance throughout the
process
• Looks and feels like other digital
products e.g. fitness apps
• Wants an engaging experience
to sustain motivation
Wealth
Investment
motivation
Desire for
information
Selection time
Low
Low
Medium - wants trust-
related info
Low - happy to select and
purchase in one sitting

UNDERSTANDING CHOICES
AIM
To understand why and how their
money is being invested so they
are comfortable with their
decisions
• Mid to high level professional
• Willing to learns by engaging with
a range of content including
interaction, articles and videos
• Skeptical of investing and the
investment industry
• Strong desire to make decisions
herself
• Needs to know “why”
throughout the experience
• Wants information about
finance more broadly
• Wants to save and compare
information
Wealth
Investment
motivation
Desire for
information
Selection time
Medium
Medium
High
Medium - makes purchase
decision across two or more
time periods

DETAILED INFORMATION AND GREATER CONTROL
AIM
To formulate and implement more
nuanced investment strategies
• High level professional that is
actively thinking about retirement
• Preference for human interaction
prior to making a purchase
decision
• Generally risk averse due to
recently losses in equity markets
• Needs to see the specific details
of the portfolio
• Wants to compare information
and performance
• Wants to communicate over the
phone or in person prior to
purchase
Wealth
Investment
motivation
Desire for
information
Selection time
High
High
Medium - desires comparison
but willing to decide in a few
sittings
High

Effort to address HighLow
Low
High
Severity of challenge
Valuable
Safe
Efficient
Familiar
Relatable
Understandable
Awareness
Accessible
Personal values
Trust
Emotion
Control
Adjourn
EmbedMessage

Low
High
Safe
Accessible Trust
Control
Message

Low
High
Awareness
Personal values
Emotion
Adjourn

Low
High
Valuable
Efficient
Familiar
Relatable
Understandable
Embed

It looks like a private company for people in
the know
I would need to be overly educated to make the
most of it
It’s trying to ‘wow’ me with its
revolutionary technology
This is more my end
It is talking to me as a individual
It feels like I could do something here
This makes me feel small
I don’t have this kind of money
I’m not the data type.
How do I even use this? What am I supposed to do?

Key questions
answered?
PHIL NEEDS TO KNOW IT’S VALUABLE AND SAFE
Orientation Set up
Finding information Exploring first steps Simulating outcomes Comparing outcomes
Orientation
Sign up Monitor investments
Thinking
Feeling
Who can I speak to?
Who can help me plan for retirement?
How can I benefit from my knowledge of
world events?
CognitionInteraction
Doing
Message
Type and
format
Cognition
Flow
Journey
What options are best for me and my
family?
Why should I trust you?
What impact do my choices have on my
investment?
How do I interact with this thing?
Who can I speak to?
Which one of these options is the safest?
Why do I have to answer all these
questions?
How close are my investments to achieving
my goals?
What is happening in the news that can
affect my portfolio?
I’m getting anxious because I’m nearly
retirement and need to organise my
financial situation.
I’m skeptical because I’m not sure I can
trust an online platform with my money.
Curious because I can see potential
outcomes but I’m not sure how all this
information is related.
I’m confused because I need some guidance
as to which option is right for my unique
situation.
This is rather boring.
I’m content that my investments are helping
me achieve me and my family’s goals.
Talking to close family members, e.g.
spouse and children.
Reading articles in the Economist and
LinkedIn.
Searching “retirement planning” on Google.
Reading testimonials of people similar
to me.

Reading how it works.

Reading how it can benefit me and
my family during retirement.
Experimenting with the simulator by
inputting dummy data.
Experiment with scenarios e.g. a 20%
downturn in equity markets.
Compares projections with benchmarks e.g.
savings accounts.
Calling the phone number to speak to a
human advisor.
Saving portfolios to review later.
Comparing the portfolios across a range of
facets.
Asking family what they think.
Reviewing all the information.
Changing information as required.
Reviewing the dashboard.
Reading related articles and news.
Awareness: Investing is safe and can
maximise your wealth for retirement.
Persuade: Investing with us is as
trustworthy as investing with Deutsche
Bank.
Educate: We provide a truly tailored financial
solution for your retirement.
Inform: These options can all work for you
but here is some info and guidance to help
you make your decision.
Signpost: We understand this is boring but
it’s important.
Inform: Your investments are performing as
planned but here are some ways it can be
optimised.
White papers
Articles
How it works page / guides
Case studies
Articles
Simulator
Explanations
Reminders to call phone number
Simulator
PDF reports
Form process
Dashboard
Articles of investment-related news
Enter site
Do you
want a retirement-
focused portfolio?
Read ‘retirement
guide’
Experiment with
different risk
settings
Call phone number Return to sign up
Review
dashboard
Change risk level
I want help formulating and implement
more nuanced investment strategies
Persona
Philip is a high level professional actively thinking about retirement, has a
preference for human interaction and is generally risk averse.
Goal
Philip wants help finding and understanding more detailed information in order
to enable more nuanced investment strategies.
Ongoing
and non-linear
Non-linear
but time based
Linear

MEG WANTS A FAMILIAR AND UNDERSTANDABLE EXPERIENCE
Orientation Set up
Orientation
Thinking
Feeling
Why should I invest instead of buying a
house?
Where can I get information about who to
invest with?
Doing
Message
Type and
format
Cognition
Flow
Journey
How can I make sense of these options?
How does it work?
Why should I trust you?
I want to truly understand what it all means
before I take action.
I’m confused because there are lots of
options that I don’t understand.
Consulting friends.
Reading articles on
Moneysavingexpert.com.
Searching “investment guide” on Google.
Watching Youtube videos on “smart
investing”.
Reading ‘how it works’.

Looking up key terms in wikipedia.

Cross-referencing with third parties
i.e. testimonials.
Awareness: Investing is a safe option that
you have complete control over.
Persuade: Investing with us is safe,
understandable and controllable.
Infographics
Videos
White papers
Articles
Case studies
Articles
I want to understand the “how” and
“why” of investing so I can feel
comfortable with my decisions
Persona
Maddie is a mid to high level professional who is very willing to learn new things,
skeptical of the investment industry and has a strong desire to make decisions
herself.
Goal
Maddie wants to understand why and how her money is being invested.
Ongoing
and non-linear
Non-linear
but time based
Linear
Do you
understand enough to
start?
Enter site
Do
you want a
portfolio based on
your goals?
Read articles
Experiment with
different risk
settings
Save comparison
report as PDF
Return to sign up Review dashboard Edit goals
What impact do my choices have on my
investment?
Why do you need this information?
Which one of these options is the best one?
What are the trade-offs?
Am I locked in?
questions?
Are my investments performing as planned?
What risks does it face?
I don’t want to provide any personal
information.
I’m feeling stressed because I have to make
a decision.
I’m frustrated at having to ﬁll in these
monotonous forms.
I’m glad that it’s nearly over.
I’m glad that my money is being put to work
and I can see how it’s working.
Gradually adding real data.
Playing with the inputs.
Reading explanations.
Saving portfolios to review later.
facets.
Print off PDF of possible portfolios to read
on train.
Asking friends what they think.
Returning to the website to complete the
process.
Reviewing all the information.
Changing information as required.
Changing goals and information as required.
Reading related articles and news.
Educate: Investing with us is transparent
and tailored to your needs.
Inform: These are good options but you can
always change at a later date.
it’s important.
planned and you should check in on a semi-
regular regular basis.
Simulator
Videos
Explanations
Simulator
PDF reports
Form process
Dashboard
Articles of investment-related news

SEB WANTS AN EFFICIENT AND RELATABLE EXPERIENCE
Orientation Set up
Orientation
Thinking
Feeling
Doing
Message
Type and
format
Cognition
Flow
Journey
I want a simple investing experience
that will allow me to buy my first home
Persona
Sam is a digital native that has recently graduated university, working his first
real job and is happy to leave the detail to someone else.
Goal
Sam wants to buy his first home and expects the experience to be similar to his
interactions with other digital platforms.
Ongoing
and non-linear
Non-linear
but time based
Linear
Does you feel
comfortable?
Enter site
Do you belong to
this demographic?
Watch videos
Experiment with
different risk
settings
Compare a few
options
Sign up Review dashboard
Change round-up
amount
What is investing?
How does it work?
How can I trust you?
Which of these options is best for me?
How do I make sense of these charts? What points of comparison really matter?
questions?
Is my money growing?
I just want to know enough to be
comfortable that it is the right thing to do.
Excited - it looks like this thing can grow my
money.
I’m glad that this looks and feels like other
apps I use.
I’m confused because it now looks pretty
daunting.
I’m a stressed because I need to decide
between these options.
I hate these forms - it’s hard to keep
concentrating.
I’m glad that my money is being put to work.
Consulting friends.
Reading articles on
Moneysavingexpert.com.
Watching Youtube videos on “beginning
investing”.
Watching ‘how it works’ video content.
Cross-referencing with third parties i.e.
testimonials.
Gradually adding real data.
Playing with the inputs.
facets.
Reading deﬁnitions of the facets.
Skim over all the details.
Check if achievements are being met.
Review how close goals are to being
achieved.
Awareness: Investing is a proven and logical
way to grow your money, especially over the
long-term.
Persuade: Invest with us because we are
safe, trustworthy and can put your money to
work.
Educate: In order to truly tailor the
investment to you, we need to know these
bits of information.
Inform: These options can all work for you
and you can always come back and change
them if something happens.
it’s important.
planned and here are suggestions for saving
more money.
Infographics
Videos
Articles
Videos
Articles
Simulator
Videos
Explanations
Simulator
PDF reports
Form process
Dashboard
Articles of how to save more money.

Login
A new way to invest
Why invest?
ABOUTBLOG CONTACTFEES
› Super easy, no jargon
› 10 minutes or less
Investing for humans
› No gambling
› Slow & steady growth

EN ZH

1.Make it personal
2.Tip the scales
3.Craft the journey
4.Set up the options
5.Keep it simple

THANK YOU
ALBERTA SORANZO

IMAGE + VIDEO CREDITS + RECOMMENDED READING
– Dentist 
https://www.flickr.com/photos/conchur/1572262745
– South African teacher 
https://www.flickr.com/photos/dfataustralianaid/10672693806
– Robot 
https://www.flickr.com/photos/caseorganic/4130488132
– How to design behavior, http://www.nirandfar.com/2012/03/how-to-design-behavior.html
– Superheroes — http://moviepilot.com/posts/2015/02/24/catwoman-nightwing-or-deadpool-these-superheroes-need-tv-shows-2721897
– Back to the future — https://www.thrillist.com/tech/your-desk-needs-a-back-to-the-future-hoverboard
– London night shot — https://www.flickr.com/photos/andi-cj/16388084611
– Behavior change strategy card — https://www.artefactgroup.com
– Spiderman — http://www.theamazingspidermangame.com Behavior change strategy card — https://www.artefactgroup.com/content/tool/behavior-change-
strategy-cards/
– Hooked, Nir Eyal
– Nickeled and Dimed, Barbara Ehrenreich
– Stumbling on happiness, Daniel Gilbert
– The truth about trust, David DeSteno

UX STRAT Europe, Alberta Soranzo, “Strategic Goodbyes: Designing the Investment Experience for Humans”

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