Himanish Goel
Robinhood
Equalizer
Train. Learn. Invest.
Your financial future starts here.
Your financial future starts here.
Role = UX Strategist and Product Designer
Tools = Figma and Photoshop
Project Type = Independent Study
OVERVIEW
Robinhood is a financial services platform to buy and sell stocks, options, exchange-traded funds (ETFs), crypto, and other investments.
The platform revolutionized investing by being the first to offer commission free trading.
BACKGROUND
A Generation on the Edge of Wealth, But in the Dark
Gen Z is defined by Pew Research Center as those born between 1997 and 2012. They are considered to be "digital natives" as they have grown up with internet being a constant in their lives.
Amidst the background, Gen Z’s are increasingly joining the work force as baby boomers and Gen X fade away into retirement. Based on a survey by TIAA-GFLEC, Gen Z is the least financially literate cohort amongst all generations.
Gen Z never opted out of finance. They were just never let in.
Amidst the background, Gen Z’s are increasingly joining the work force as baby boomers and Gen X fade away into retirement. Based on a survey by TIAA-GFLEC, Gen Z is the least financially literate cohort amongst all generations.
Gen Z never opted out of finance. They were just never let in.
THE TENSION
Gen Z feel investing is intimidating and risky and not made for them. They don’t want lengthy seminars and videos for learning investing. They long for:
● Learning through scrolling
● Creators over institutions
● Community over textbooks
● Learning through scrolling
● Creators over institutions
● Community over textbooks
The confidence to invest money is missing and they don’t want to mess it all up!
THE SOLUTION
Robinhood Equalizer
Our unique solution proposes hands-on training app to learn before investing real money. The Tool is Robinhood Equalizer. What does Equalizer do?
Key Features:
Our unique solution proposes hands-on training app to learn before investing real money. The Tool is Robinhood Equalizer. What does Equalizer do?
Key Features:
- ✨ Simulated Investing - Look before you leap! Test it to learn and grow risk-free.
- 📈 Bite-Sized Learning - Bite sized lessons for the digital natives: Swipe, scroll, and absorb on the go.
- 👥 Community Trust - Investing explained by social creators. Known faces for an unknown world.
INSIGHT
They have felt like perfect outsiders with money, that are trying to have it all figured out. But are afraid of messing it all up for themselves.
BUSINESS IMPACT
Robinhood can transform to a leading financial powerhouse with our proposed solution. With growing numbers of Gen Z in the workforce and increasing economic power, Gen Z will be the richest generation with $36 trillion in global income by 2030. Financial service companies that recognize this opportunity will be the future leaders. Robinhood cannot miss this massive shift in the economic and demographic landscape.
Besides the growing economic clout of Gen Z, they're expected to inherit $11 trillion over next two decades. Our app, could:
Besides the growing economic clout of Gen Z, they're expected to inherit $11 trillion over next two decades. Our app, could:
- Unlock $13.5B in net interest revenue for Robinhood over 20 years
- Lead the financial future by earning Gen Z's trust
STRAT LINE
Robinhood becomes the soft landing into hard finance.
Product Outcome - Robinhood Equalizer
Investor Onboarding
This case study focuses on a novice investor. When the user downloads the Robinhood app, they will be guided through a series of questions to understand their investing experience and their investing goals. Based on their selection, the user will be initiated to the investment learning module.
Introduction to Equalizer
I created an application for first time Gen Z investors. The application is called Equalizer. The application gives them an opportunity to learn and grow their investing knowledge by simulating various outcomes based on their stock purchases. It reflects returns over multiple time periods using play money of $500.
Summary
The first screen, after the introduction of Equalizer app is the summary screen with a selection of recommended stocks. These stocks are recommended based on investing goals selected in the sign-up process. On this screen, the user can compare multiple stocks, buy stocks, or continue to review community favorite stocks.
Community
Given the importance of community for Gen Z, a community page has been included to highlight the current community favorites. The investor is given the option of comparing and buying stocks from the top community favorites.
Place Order
The investor can select a stock and place an order using the play money of $500. Based on the stock selection, stock returns over multiple time frames including 6 month, 12 month and 18 month scenarios are displayed. This gives the prospective investor insight about how investing in the stock market can be used to create long term wealth while gamifying the investing experience using different stocks and time periods.
Market Research
The application also allows Market Research on a particular stock to understand key stock movement points. The research screen shows the important news on a particular date to show the impact on the stock price on that day. Investors can also click on “More News” to get more details about that event in the following screens.
Finbot - AI Chatbot
The app also has an AI chatbot tool, called Finbot, to guide the investor. Investors can ask Finbot questions about finance, investing, and compare stocks. The Finbot does not recommend stocks though.
The navigation bar at the bottom of the screen includes quick access buttons for placing order, accessing community page and stock performance over multiple time periods. Stock performance over multiple time periods reflect potential returns the investor could have earned by purchasing a particular stock.
Product Outcome - Social Connect
Social Connection
Given how much Gen Z connects with social media influencers, I planned weekly interactions featuring popular creators to help reach and engage them. In addition, the self-learning portal will have short videos to acquaint first time investors with basics of finance and investing. This integration of self paced learning plus influencer interaction will help educate first time investors and prepare Gen Z for managing their wealth in the coming years.
Process & Reflection
PROCESS
Being a Gen Z myself, the process of learning about the investing world was a rollercoaster ride. Learning about the investing terms, and the financial industry will be helpful for me in future endeavors as a professional.
Given that it was an independent study project, I was involved in all pieces of the project from developing the mobile app, prototyping each screen, designing the strategy story, and bringing it to life in a case study. There were multiple iterations during the ideation process and strategy.
Being a Gen Z myself, the process of learning about the investing world was a rollercoaster ride. Learning about the investing terms, and the financial industry will be helpful for me in future endeavors as a professional.
Given that it was an independent study project, I was involved in all pieces of the project from developing the mobile app, prototyping each screen, designing the strategy story, and bringing it to life in a case study. There were multiple iterations during the ideation process and strategy.
REFLECTION
Creating product extensions of an existing brand was challenging. Given the low financial literacy of Gen Z, it presented an ideal product to immerse Gen Z in a taboo topic. I could have easily picked a consumer product with easy brand recall and product awareness. But I pushed for this project to highlight the future perils that Gen Z will face, unless they learn the basics of finance and get on the path to building wealth.
Creating product extensions of an existing brand was challenging. Given the low financial literacy of Gen Z, it presented an ideal product to immerse Gen Z in a taboo topic. I could have easily picked a consumer product with easy brand recall and product awareness. But I pushed for this project to highlight the future perils that Gen Z will face, unless they learn the basics of finance and get on the path to building wealth.
Finance is no longer just for the insiders.