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Digital Transformation for a Fintech Startup

Digital Product Design by Very Memorable

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Digital Transformation for a Fintech Startup

  1. 1. Digital Transformation for a Fintech Startup Very Memorable C A S E S T U D Y D I G I T A L P R O D U C T D E S I G N B Y
  2. 2. Digital Transformation for a Fintech Startup Digital Product Design by Very Memorable Nexus Financial Services/FPS Group is a fintech startup specializing in 403b and 457 retirement plans C L I E N T P R O F I L E
  3. 3. T H E P R O B L E M Due to initial success in the B2G market, the internal company culture tends to neglect focusing on end-user customer service Digital Transformation for a Fintech Startup Digital Product Design by Very Memorable
  4. 4. Who are the End-Users? One Size Does Not Fit All T H E R E S E A R C H Just Starting Out “It’s hard to think about savings for a future that is years away” Mission-Critical Task Examples: • On-boarding • Salary Reduction Agreement • Funding Your Accounts Mid-Career “I want to track my portfolio” and “How do I get a loan?” Mission-Critical Task Examples: • Investment Direction • Account Rollovers • Loan Requests Nearing and In Retirement “Am I prepared to retire?” and “Can I make my money last?” Mission-Critical Task Examples: • Distribution Requests • Account Rollovers Digital Transformation for a Fintech Startup Digital Product Design by Very Memorable
  5. 5. K E Y I S S U E S F R O M R E S E A R C H • Confusing Navigation • Account Specifics Hidden • Contact Info Hidden • Desktop Only • Not Designed for Repeat Visits End-User Participant Portal is Broken T H E R E S E A R C H Digital Transformation for a Fintech Startup Digital Product Design by Very Memorable
  6. 6. The Solution User-Friendly Dashboard Driven Portal Digital Transformation for a Fintech Startup • Showcases Account Info • Contact Info at the Top • Mobile-Friendly Design • Widgets Provide Navigation Digital Product Design by Very Memorable
  7. 7. Digital Transformation for a Fintech Startup T H E P R O B L E M Due to a focus on end-users after launching a plan there’s a lack of stickiness for stakeholders Digital Product Design by Very Memorable
  8. 8. Digital Transformation for a Fintech Startup Plan Sponsors “I want something that just works” and “Are our employees really using this?” Advisors and Investment Firms “I need to onboard my participants quickly” Product Provider Companies “I don’t want my brand to be lost” Who are Our Stakeholders? Clues to Building a Platform Moat T H E R E S E A R C H Digital Product Design by Very Memorable
  9. 9. The Solution Stakeholder Portals Increase Loyalty Digital Transformation for a Fintech Startup • Plan Sponsors Track Engagement • Advisors Quickly Serve Participants • Investment Firms Manage Advisors • Providers Measure Plan Engagement Digital Product Design by Very Memorable
  10. 10. The Solution Advisor-Driven Participant Enrollment Digital Transformation for a Fintech Startup • Increases Signup Rate • Ties into Employee Database • Reduces Our In-House Costs 91% Signup Time Rate Improvement Digital Product Design by Very Memorable
  11. 11. The Solution Providers can Customize Storefronts Digital Transformation for a Fintech Startup • Aligns with Product Provider Branding • Can Be Quickly Created and Updated • Provider Awareness for Participants 33Customized Storefronts at Launch Digital Product Design by Very Memorable
  12. 12. Digital Transformation for a Fintech Startup “Our platform is growing fueled by a redesign and add-ons” Jamie DeRubertis Managing Director, FPS Group “Through our new product, we give financial services companies a competitive edge to streamline processes and expand their capabilities. As a result, they can easily focus on maintaining relationships.” Jeff Linkowski Director of Sales, FPS Trust C L I E N T R E S U LT S Digital Product Design by Very Memorable
  13. 13. Digital Transformation for a Fintech Startup 91% Participant Signup Time Rate Improvement 33 Customized Provider Storefronts Launched within a Business Day Participants Now Rolling Over External Accounts into Employee Plans Increased Growth Rate in New Plan Sponsors, Participants, and Product Providers E X E C U T I V E S U M M A R Y • • • • Digital Product Design by Very Memorable

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