Onboarding and first-transaction experience for Axis Mutual Funds
Impact HIGHLIGHTS
Overview
Young adults don’t realize that starting early is the biggest advantage in investing. It’s not about how much they invest, it’s about how soon they begin. Taking the first leap into investing can feel intimidating and confusing. To break down these barriers, I redesigned the discovery and investment process through a campaign-based onboarding that simplifies decision-making and increases awareness. The focus was to reduce friction, boost user confidence, and empower young adults to turn their intent into a clear, confident step toward investing with ease.
My Role
Led the redesign including research, conceptualization and prototyping
Timeline
6 months
Sep 2023 - Feb 2024
Team
2 designers, 1 UX researcher, 2 PMs, 9 developers, 2 business strategists
The Problem
Taking the first step to invest feels overwhelming, causing young adults to miss out on the benefits of compounding
I landed right in the middle of a problem Axis Mutual Fund was trying to crack. Despite being one of India’s top AMCs, only 30% of their investors were under 35, way below the industry average of 50%. They saw a clear gap and a big opportunity. For young adults, investing wasn’t about planning big, it was about not knowing where to start. Most didn’t understand the power of compounding or why starting early mattered. So I wondered, what if investing felt as natural as saving up for a vacation?
Background
The median age of investors was stuck at 40
1
Young investors, digital natives, were abandoning the platform early in the journey
2
The platform could only sustain existing customers (above 35) due to existing investments and brand loyalty
3
Increased competition with new-age fintech apps that offered a smoother, more engaging experience
The Business Ask
Revolutionizing the first mutual fund investment experience for young investors
1
Create a shift in median investor age by increasing adoption
Having next-gen investors ensures secured business
2
Boost direct investments to reduce third-party comissions
Direct transactions minimize dependency on distributors
3
Increase customer lifetime value through recurring investments
SIPs increase in assets under management consistently
why mutual funds
A simple path to building wealth without the complexity
Mutual funds are ideal for first-time investors because they take the guesswork out of investing. Instead of having to choose individual stocks or bonds, one can choose a a fund managed by experts. This helps spread out the risk and makes it easy to get started without needing deep market knowledge.
The Current State
How might we make investing feel less intimidating and more relatable for young adults, empowering them to start early and make their first investment with confidence?
The Solution
A campaign-led onboarding and investment experience that demystifies mutual funds
APPROACH
1
Evoking confidence through relatability
2
Leveraging storytelling and social nudges
3
Simplifying UX and making journeys fast
YOUNG INVESTOR CAMPAIGN
1
A relatable entry point into the investment journey
Turning the complex world of investing into an easy, approachable and tailored experience
interactive calculator
Visualizing the power of compounding through play
Empowering users to visualize the impact of starting early on their investments. By adjusting the age at which they begin, users can instantly see how compound interest accelerates growth, turning the distant concept of math into a more relatable and engaging experience.
JARGON BREAK DOWN
Decoding complex industry terms into info nuggets
Complex financial terms like AUM, NAV, and SIP often intimidate first-time investors, creating hesitation. We tackled this by embedding bite-sized, plain-language explanations right within the journey
BANNERS THAT GUIDE
Using creative banners to nudge through relatable storytelling
The animated banners blend aspiration with clarity, helping young investors see the big picture while providing the right information at the right time. Whether it’s starting small or dreaming big, every nudge is designed to make investing feel within reach.
SOCIAL PROOF
Building trust and relevance through social proof
Intelligent nudges that help investors choose the right funds by qualifying investment schemes
CREATING AN ACCOUNT
2
A personalized, quick and delightful onboarding
From sign-up to goal-oriented investing in less than 5 minutes
CONTEXTUAL GOALS
Making the first step to goal-setting more accessible
I reimagined the traditional folio system as goal-oriented buckets that makes investing feel achievable, personal and closer to one's dreams
mutli-step form
Bite-sized form sections with suggestive inputs
Offering a quick sign up process by chunking similar questions into sections that enables users to swiftly fill it out, and pre-filling any fields that can be fetched via existing KYC data
section visibility
Progressive stepper that increases motivation and speed
Transformed a 3 step lengthy sections form to a 7 step tiny section form that gives feedback after every step (each 30 seconds) and accelerates form filling speed by 2x
FUND selection and investment options
3
A fully informed fund-exploration
Making decision-processing easier by breaking down complexities with interactive calculators and smart nudges
TOOL-TIPS
Demystifying jargons throughout the journey
Balanced out compliance and user experience through tooltips that can be accessed to gain more understanding without having to leave the journey and feeling overwhelmed
FUND-SPECIFIC CALCULATOR
Estimating future returns and finding the ideal SIP amount
Bridging the gap between decision-making and action by providing insights into how much to invest. It is positioned right before selecting SIP or lumpsum, and guides users to make informed choices based on investment goal
ORDER FORM
Modular SIP and Lumpsum form with smart nudges
Encouraging young adults to invest with a growth mindset and set themselves up for greater wealth accumulation over time through intelligent nudges based on their amount inputs and SIP vs lumpsum selection
ORDER placement
4
Check out and pay with full clarity and ease
Ensuring transparency and confidence as you proceed to payment with clear options
PAYMENT MODES
Reducing queries through instructional details
Simplified options and key payment options like "mandates" and "iSIP" to help young adults set up recurring payments for their investments with full context of what is happening
SECURITY AND TRUST
Enabling recognition of trusted modes through logos
Instead of manually read through payment options, displaying familiar banking partner logos serves as a quick, visual cue, making the payment process intuitive while reducing cognitive load through familiarity
POST-PAYMENT ACTIONABLES
Making post-payment statuses and steps contextual and easy
Based on the selections during account creation and payment, the confirmation page helps users navigate to the steps they need to perform as well as the status of their transaction and fund allotment
Research
Unpacking how investments fit into the lives of young adults
I took lead on the research strategy and worked closely with the UX researcher to shape the direction. Our goal was to dive deep into three key areas:
ux audit
The existing journey led to missed opportunities for conversion
While Axis holds a strong legacy and trusted brand reputation, the experience offered to the newer generation when compared to competitors posed a significant risk. The outdated flow had the potential to not only fail to engage users but also diminish the brand’s reputation.
Friction Points
1
Untrustworthy experience
Inconsistent design, lack of clear visual hierarchy, and cluttered forms disrupt the user experience, leading to errors and hesitation to proceed with investments.
2
No real-world relevance
The platform feels disconnected from the everyday financial goals of young adults, making it hard for them to relate to the investment journey.
3
Complex language
The use of jargon like "VPA," "folio," "mandates," etc. alienates first-time investors who lack financial literacy. This makes users feel like they are stepping into an unfamiliar, complex world.
4
Lack of clear direction
Multiple CTAs and redundant content create confusion for first-time investors. Users struggle to absorb important information, causing drop-offs when it comes to making decisions.
Exploring Intent and Motivation
The core drivers based on their stage of life
Young adults feel disconnected from investing when it doesn’t align with their immediate realities.When framed around their current lifestyle, such as saving for a trip, a new gadget, or gaining financial independence, it becomes personal, relevant, and actionable. Investing for the first time is about taking control, building confidence, and pouring into smaller, immediate goals that make investing feel real from the start.
⭐️ INSIGHT 01
First investments are not about becoming a finance expert overnight. It’s about starting, simply and confidently, with a process that feels intuitive and focusing on a clear small goal.
Lack of Awareness
The overlooked potential of SIPs and compound interest
Compounding remains a theoretical math concept for young adults, something learned in school. It is hard to imagine how their small monthly SIPs could eventually turn into significant wealth which makes them wait for a time when they think they’ll have more to invest. Without a clear connection between starting early and long-term rewards, the value of compounding remains abstract.
⭐️ INSIGHT 02
Compounding needs to be a tangible concept than just a theory which can act as an enabler for young adults to start small with consistent SIPs that give exponential returns in the future.
Discovering Hidden Barriers
Misconceptions and perceived complexity
Young adults continue to save a share of their money each month, but when it comes to investing that money, they are hesitant. It’s not because they don’t want to invest, it’s because they haven't had the chance to explore investing in a safe space. There exists a distant fear, and it’s powerful.
⭐️ INSIGHT 03
First-time investors need to move from uncertainty to clarity. The ability to invest increases when the path forward feel less intimidating and more like a natural progression.
Power of Social Influence
FOMO serves as an investment catalyst
When friends start investing, there's an undeniable rush to join in, pushing young adults to explore their options out of FOMO. But as they open the platform, the excitement fades as it feels distant and isolated. Investment can be a personal activity but it does not have to be isolating one.
⭐️ INSIGHT 04
Social cues are subtle yet powerful motivators. The right cues at the right time can transform hesitation into a moment of empowerment, acting as a social push and a catalyst for early investment.
Key Actionables
Themes that guided our design vision
Mutual funds need to empower young investors to see the potential of their financial future, and with the new journey, this is the feeling we aimed to inspire in first-time investors
Takeaways
I climbed a big learning step by leading this project
1
Navigating the boardroom
I presented to C-suite executives with limited design exposure, focusing on how design decisions drove business outcomes like user engagement and growth. I secured buy-in and influenced product direction through strategic design.
2
Finding a balance between compliance and experience
I gained a deep understanding of regulatory constraints by working with legal and compliance. I then collaborated with design and engineering to creatively work around these constraints without compromising usability. This taught me that constraints are not limiting, but rather provide opportunities for innovation.
3
Understanding funnel and conversion metrics
I now understand the critical importance of funnels and demographic-driven tracking to optimize business metrics through improved experience and strategy. I gained insights into how different segmented groups interact with the platform, allowing me to pinpoint drop off points, teaching me the importance of data-driven product optimization.
REMARKS
What my leaders have to say
From my internship days to every endeavor since, Sanjay (CTO) and Aizaz (Associate Director of Design) have been my unwavering support, always guiding me with trust and encouragement.
