How would you improve Angel Broking?

Clarifying Questions

App or Web?  App

Any specific goal of improvement? Improving the overall user experience for Angel Broking

Any specific problems consumers are facing?  Not that we know of. 

Goal of improvement is to improve the overall user experience of Angel-Broking to improve adoption and retention.
 

User Types 

Amateurs

Seasoned Traders 

I will pick Amateurs - There are a large number of people looking to get into stock trading and earn money. Moreover these users don’t have enough knowledge about stock trading - relatively new to the markets and don’t know which stocks to buy or which to sell.

That is the reason I will target this market segment. 

Pain-points 

1. They have to go through a long and painful onboarding process. They end up abandoning the process.  

2. Even you start onboarding process,  you cannot continue from where you left. 

3. As a new trader, you need more information about various financial terms used on the app and how they impact your decision making process.

4. As a new trader, you need more help on how to start trading and what things to avoid initially. 

5. As a new trader, I should some help on trading decisions

Lets prioritise based on three criterion

1. Frequency 

2. Intensity

3. Willingness to pay? 

1. Frequency - 1, Intensity - 10, Willingness to Pay - 1  = 12

2. Frequency - 1, Intensity - 10, Willingness to Pay - 1 = 12

3. Frequency - 5, Intensity - 5, Willingness to Pay - 3 = 13

4. Frequency - 2, Intensity - 7, Willingness to Pay - 7 = 15

5. Frequency - 6, Intensity - 7, Willingness to Pay - 10 = 23

We will prioritise as follows :- 5>4>3>2&1 

If we are looking to acquire new users, we should focus on 1 & 2 also. 
 

Solutions 

1. Break down the onboarding process into parts -  1) Signup using OTP, KYC and allow the user to complete profile later 2) NSDL E-Sign before trading action.

2. Save signup progress. 

3. Explainer Videos on Financial terms along integration with investopedia to pull definition of terms and how it impacts a stock 

4. “Let’s Trade” Tour 

   1. explain the user about various different markets

   2. Show which low risk stocks to invest initially  in based on amount 

   3. Promising Sectors 

   4. How to plan investments

   5. When to divest 

5. Assign an Account manager who will monitor the portfolio and provide suggestions 

6. Smart System based on AI which will provide you with stock insights and recommendations on when to sell and which stocks to buy

Trade Offs 

1- Initial trading experience will not be smooth since you will have to complete the remaining onboarding process before trading

2 - It will require more dev effort to build

3 - UI may become clunky - needs to be done very carefully.

4- I don’t see any risks in this. 

5-  Not a scalable solution as you will have to increase the number of account managers to support users

6 - scalable but super expensive solution and will require a lot of training and data to perfect. 

Prioritization  

Success Metrics 

Number of Users on-boarded successfully per month

% of users who completed the onboarding after leaving it in between

% of onboarded users who completed at-least one trade 

Number of trades per user per month

NPS on the app 

Feedback Rating on Lets Trade