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Overview
Introducing Betashares Direct
Product AUM
$60 Million
Users
20k+
Betashares AUM
$40 Billion
I was tasked with leading the app design, building new features and helping expand Betashares Direct into the #1 app for long term Investing in Australia. I contributed significantly to multiple features including Performance, Recurring Investments, Search, Prebuilt Portfolios and overall Improvements to the user experience
Betashares Direct is the new investing platform designed to help you build wealth, your way. Invest in ETFs traded on the ASX with zero brokerage, or automate your investing for low monthly fees.
Betashares, a leading Australian fund manager specialising in ETFs. Over $40 billion under management and serve over 1 million investors.
Company
Betashares
Period
6 Month (contract)
Role
Senior Product Designer
Main features
These are the main features I worked on over the 6 month period to help Betashares expand on growth and hit milestones for the product
Competitor Analysis
Betashares main goal was become the first ever trading platform that offered $0 trading fees for both ETFs and shares. The core of my position was making that become a reality for the product.
New feature
Performance
Betashares wanted to Implement a performance feature that allowed users to track their portfolio over the long term. It was valued as a great incentive for long term Investors and aligned with ETF investing
Problem
There was no way for users to view a performance overview of their portfolio. It was a feature that was requested by multiple users and we needed to come up with a solution to this problem
User stories
User feedback
"Is there a way I can view an overview of my portfolio? Ideally in a chart that I can filter based on a timeframe. That would be highly beneficial"
James, H
"I noticed Betashares direct doesn't have a performance chart for your portfolio while other platforms do. Would be great to have that as a future feature"
Andrew, C
"How do I see a chart based view of my holdings? I want to see a historical view that I can look at over the long term."
Sarah, A
Competitor (Wealthsimple)
Feedback was very much based off user conversations, app store feedback and social media forums. A performance based feature was highly requested amongst Betashares customers and it was a high priority for us to implement into the platform.
Took in this feedback and initial research to then map out some concept designs for the performance chart. Additionally did some research into competitors and chart designs for Inspiration.
Exploration
Flow Diagram
Wireframes
UI Design
User flow
File organisation
User feedback
Overall, User feedback was highly positive on this feature as it was constantly requested on a weekly basis. We knew what customers wanted and we wanted to design a performance section that would meet the standards of all Investors. It's a great feature for both beginners and advanced Investors that want an overview of their portfolio growth.
This is currently released and we're monitoring user feedback and gathering data to make any final revisions to the feature but overall, feedback has been very positive.
New feature
Recurring orders
Betashares wanted to help improve the overall buy and sell functionalities in the app. This would also including introducing 'Recurring orders' so customers can automate DCA into funds or shares. I was tasked to review the current UX and design improvements to the flow.
Problem
The main problem was customers had no way of setting up recurring orders to automate their Investments. Customers want a seamless process and often want their Investing to be completely automated so they don't have to think about it or simply want to save time.
User stories
User feedback
"When will you have DCA like other platforms? It's a much needed feature for the app."
Ben, A
"I usually Invest on a monthly basis based on my pay frequency. Would be good to have some sort of DCA option that automatically does it for me."
Chloe, H
"I want the ability to daily cost average into an ETF on a weekly basis. Are you going to be adding that?"
Matthew, D
"You can set recurring orders in platforms like Coinbase. You should look at adding something similar so I can automate Investments."
James, L
Exploration
Flow Diagram
There were multiple flow diagrams considered for recurring orders. This is just highlighting one of those flows.
Wireframes
User Flow
UI Design
File organisation
In development
After doing a few rounds of testing and refinements, Recurring orders is currently in development and expected to launch to the public in July 2024.
All activity and user feedback will be gathered to help improve the overall user experience and feature.
New feature
Price alerts
Problem
There was no ability to set price alerts available for traders and Investors in the app. It's an essential feature for setting price alerts and used regularly amongst users
Betashares lacked the ability to set price and change alerts in the app. I was tasked to design a seamless user experience for this feature that would be easy to use for both new and experience Investors. Directors saw price alerts as a key feature that needed to be in the product for engagement and trades
Solution
Designing a seamless UX for both setting price and change alerts was essential for the success of this feature. There were multiple scenarios to consider which were narrowed down using user stories and user flows
Exploration
Flow Diagram
Wireframes
User Flow
UI Design (Dark mode)
Key takeaways
I designed a price alerts UX that allows users to either set a price or percentage change for any security on the app. It allows users to track and manage their alerts all in the one feature and feel it will be highly beneficial for all Investors.
This feature is still in development and will be tested with users soon to gather insights and feedback on any improvements but I'm confident in the overall UX of the price alerts feature.
Improved feature
Search
Problem
Simple search function with no ability to see last searches, suggestions, last purchase and additional functions within the feature. Customers were finding it hard to find what they want to invest in.
Betashares needed to improve on the search function in the app to allow more advanced searching and suggestions for customers. I was tasked to review the feature and improve on any aspects that will help engagement and direct access to Betashare funds
Solution
Understanding what users want to see in regards to searching and Implementing a simplicity design around those ideas. Ideas including showing Recent searches, Past buys and suggested Betashares funds. All have a purpose and meaning for being there in the search section.
Exploration
Wireframes
UI Design
Main search
Category list
Filter by
Filter sector
Inner search
Inner chart
In development
The main problem we wanted to solve was making it easier to find our ETFs through a list view and the solution to that was adding categories to both explore and search. This solution is currency in development.
After doing a few rounds of refinements and stakeholder feedback. The new search features should be released to the public in August 2024.
User feedback will be gathered to help improve the overall user experience and feature once launched. If any changes need to be made based on data and feedback, then iterations will be made to the design.
Conclusion
These were just some of the features I worked on over the 6 month period. The core focus was understanding current problems in the app and designing solutions that would be improve growth for the business and overall user experience.
Overall, it was a highly rewarding experience leading on these Betashare direct features. I learnt many valuable lessons and it helped me grow tremendously as a product designer
Product AUM increased
+700%
Userbase increase
2k > 20k+
Daily deposit average
800k
New Features delivered
7
Key points
Collaboration with stake holders. Understanding the importance of collaborating with stake holders, product managers and team members were key for feedback and making sure I was meeting all requirements. This required multiple meetings throughout the week with all types of team members.
Understanding the problem. Understanding it from both a customer and business point of view was key. You want to drive growth and revenue but must not compromise the user experience. It was important to communicate that to stake holders.
Iterations and Improving. Shipping products fast and lean can have it's advantages and disadvantages. It's important to monitor research and data on the feature once it's live to then make quick iterations and Improvements