Savings certificate scheme for farmers - axis bank
Project time
My Role
Tools
Project Overview
8 weeks
Lead designer
Identified market needs, mediated with stakeholders
UI Design and Prototyping
Researcher: user evaluations
Adobe XD
Figma
Miro
Jira
The Kisan Vikas Patra Investment Platform is a user-centric and robust web application that empowers farmers to make prudent financial decisions through the government-backed savings scheme. The combination of intuitive UI designs and smooth UX interactions creates a compelling platform that fosters trust, convenience, and growth for users seeking secure investments in Kisan Vikas Patra.
Project background
Goal
Problem Statement
The Kisan Vikas Patra Investment Platform aims to simplify the process of investing in the government-backed savings scheme, Kisan Vikas Patra, and attract farmers. However, the existing platform faces several UX challenges that hinder its ability to provide a seamless and user-friendly experience for users.
The goal of creating an online experience for investing in Kisan Vikas Patra (KVP) is to make the investment process more convenient, accessible, and user-friendly for individuals seeking to participate in the government-backed savings scheme.
The existing platform overwhelms users with excessive text, jargon, and technical terms, making it difficult for them to understand the investment options and benefits clearly.
Limited Awareness: Many farmers, especially those from rural areas, may not have adequate knowledge
or awareness about financial investment options
Liquidity Constraints: Farmers often have irregular cash flows due to the seasonal nature of their agricultural income.
Complex Documentation: Farmers, especially those with limited literacy or access to financial services, may find
the documentation and paperwork required for investing in KVP cumbersome and confusing.
‘To create an intuitive, accessible, and transparent platform that enables users to easily understand the investment options, calculate potential returns, and make hassle-free investments in Kisan Vikas Patra.’
Foundational Research
User Persona
Business Requirement Document
Since the Client ( Axis Bank ) has access to great UX Researchers we had some Data provided to us that could help us shape the User Experience. The had conducted surveys which included questions about users' investment habits, familiarity with Kisan Vikas Patra, preferred investment platforms, and expectations from an online KVP investment platform. It was slightly challenging for them as farmers aren’t accustomed to using technology.
User Familiarity with Kisan Vikas Patra:
75% of respondents had heard about Kisan Vikas Patra.
40% of respondents were aware of its benefits and investment features.
Preferred Investment Methods:
55% of users preferred online platforms for making investments due to convenience and accessibility.
30% preferred physical post offices for a sense of security and familiarity.
Expectations from the Online KVP Platform:
85% of users expected a simple and intuitive user interface for easy navigation and investment.
70% emphasized the importance of transparent information on investment plans and interest rates.
60% wanted a responsive mobile-friendly platform to access KVP investments on the go.
Expectations from the Online KVP Platform:
85% of users expected a simple and intuitive user interface for easy navigation and investment.
70% emphasized the importance of transparent information on investment plans and interest rates.
60% wanted a responsive mobile-friendly platform to access KVP investments on the go.
Key Pain Points with Existing Investment Options:
40% of respondents found the documentation process at post offices time-consuming and cumbersome.
30% expressed concerns about the lack of real-time updates and difficulty in tracking investment progress.
Design Process Overview
User Research
Ideation
Define the problem
Empathize
Research and Discovery
Define
Ideation and Conceptualization
Ideate
Design
Test
Prototyping
Feedback and Iteration
Design Development
User Testing
Finalization and Implementation
Launch and Deployment
Post-Launch Evaluation
Continuous Improvement
Online Experience
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Rajesh Kumar
Age: 35
He is farmer in a rural village
Rajesh is a tech-savvy farmer who is keen on exploring investment options to secure his family's future. He is interested in KVP as he has heard about its government-backed safety and guaranteed returns. However, he lacks knowledge about the online investment process and seeks a platform that is user-friendly and accessible.
Some common pain points that he faces:
Lack of Online Investment Experience: Rajesh finds it challenging to navigate the online investment process and is unsure how to initiate his KVP investment.
Limited Digital Literacy: Rajesh faces difficulties in understanding the technical jargon and procedures involved in online investing, which makes him hesitant to proceed.
This was a document given to us to outline the exact experience Axis Bank wanted to create. we had to stick to this
Storyboarding and User Journey Map
User Journey Map with Storyboard
Persona
Scenarios
Name: Rajesh Kumar
Expectations
Rajesh is a tech-savvy farmer who is keen on exploring investment options to secure his family's future. He is interested in KVP as he has heard about its government-backed safety and guaranteed returns
Timeline
Actions
Mindset
Emotions
Opportunities
Rajesh, sells his bountiful harvest of crops to a vendor in the local market.
Ramesh's mindset is filled with a sense of accomplishment and satisfaction as he successfully sells his hard-earned crops. He feels proud of his agricultural efforts and is eager to make the most of his earnings.
Ramesh feels a sense of pride and accomplishment as he sees the fruits of his hard work being recognized by the vendor.
Create a simple interface within the web application that allows farmers to input their daily earnings from selling crops.
Offer a tool within the web application that allows farmers to categorize and track their expenses and savings.
Create an educational resource section within the web application that explains the benefits of KVP and provides basic financial literacy information.
Use user data and investment preferences to provide tailored investment recommendations for farmers.
Include a live chat support feature within the web application that allows farmers to connect with a customer support representative in real-time.
While organizing his savings, Ramesh feels a strong sense of responsibility towards securing his earnings for the future.
As Ramesh explores various investment options, he is curious to learn about the different ways he can grow his money.
While investing in KVP, Ramesh experiences a mix of eagerness and caution. He is eager to take this step towards growing his savings with the government-backed scheme.
When seeking clarification at the bank branch, Ramesh feels determined to fully understand the investment process.
While organizing his savings, Ramesh's mindset is focused on securing his money for the future. He values his earnings and wants to make wise financial decisions to protect and grow his savings.
As Ramesh delves into researching different investment options, his mindset is one of curiosity and a desire to learn. He is open to exploring new opportunities and keen on finding the best way to make his money work for him.
When investing in KVP, Ramesh's mindset is a mix of excitement and caution. He is enthusiastic about the potential growth and security offered by KVP but also wants to ensure that he makes a well-informed decision.
In the bank branch, Ramesh's mindset is focused on gaining clarity and understanding. He is determined to grasp the details of his investment fully and feels reassured by the bank representative's guidance and explanations. He wants to be confident about his investment choice.
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Back home, Ramesh counts and organizes his earnings from the day's sales along with his existing savings.
Ramesh begins researching different investment options online.
Ramesh, seated in front of his computer, begins researching different investment options online.
As Ramesh regularly checks his KVP investment's performance on the platform, he encounters a few terms he doesn't fully understand.
Farmers expect the web application to have a simple and intuitive user interface that is easy to navigate
Farmers expect the web application to provide transparent and comprehensive information about Kisan Vikas Patra, including detailed explanations of investment plans, interest rates, maturity periods, and the overall investment process.
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Design
Lo-Fi Wireframes
Since the feature that needed to be included were already outlined by the client we went straight to designing low fidelity wireframes. The wireframes used simple shapes, placeholders, and minimal styling to provide a clear and concise representation of the web experience’s intended structure and functionality.
Design Evaluation - Stakeholder Feedback / User Testing
After conducting user testing with the lo-fi wireframes, several valuable insights were gained to inform the app's design and functionality.
Local Language Support: Given the diverse linguistic landscape of India, Axis Bank may have advised incorporating support for multiple regional languages to make the platform more accessible to farmers from different regions.
Transaction History: Axis Bank could have recommended a clear and easily accessible transaction history section, enabling users to track their investments and earnings over time.
Offline Access: Given potential connectivity issues in rural areas, the client might have suggested incorporating an offline mode, allowing users to access important information and perform key actions even when not connected to the internet.
Security Enhancements: Security would be a top priority, so the client might have asked for additional security features like two-factor authentication (2FA) to protect users' investments and personal information.
https://miro.com/app/board/uXjVMqm-6Dc=/?share_link_id=62952215653
High Fidelity Designs
After the wireframes got approval from top level management, I started to create high-fidelity versions of my designs.
Did users like what I designed ?
Results
Q: How many investors were indivudual farmers?
of the users were individual farmers.
60%
Engagement
of users have reported positive feedback.
90%
User Feedback
Q: What was the average investment size per person?
was the average investment size.
$600
Investments made
Design File