Cindy Rogers
Smart Invest
Investing made easy
Launched as an MVP in July 2021, and was the first investment app of its kind in Ireland. It allows users to easily invest in a managed fund for as little as €100.
Problems to solve
Through a combination of usability testing and user surveys, we identified several friction points across the onboarding journey. This case study focuses on three key areas: the fund acceptance screen, a recurring payments feature, and our north star dashboard.
One of the most critical challenges existed within the fund acceptance step. This is a highly regulated part of the journey, requiring us to present complex financial information and mandatory documentation. By this stage, users have completed a risk assessment and received a recommended fund aligned to their investor profile. To proceed, they must review and accept detailed fund information.
However, both our analytics and qualitative research pointed to a clear issue: elevated drop-off rates at this stage. User feedback revealed that the volume and complexity of information created cognitive overload, leaving many users feeling overwhelmed and hesitant to continue.
There's too much text for the investment acceptance screen. I might read it but it's making me feel lazy.
User test quote
The solution
Within compliance constraints, the content was restructured across three screens to improve clarity and flow. The portfolio assets graph was redesigned, and a social proof element was introduced to nudge users forward and build confidence in their decision.
Content was organised into card-based sections to support better chunking and make information easier to scan. Key copy was also refined for clarity and readability. User testing revealed that many users were unaware they could retake the risk assessment if they were unhappy with their recommendation. To address this, the option was surfaced more prominently—moved out of body copy and positioned directly beneath the primary ‘Invest in this fund’ CTA.
The CTA itself was also updated to reduce ambiguity, making it clearer that users are accepting the recommended fund.
Finally, the solution aligns with our evolving design system, resulting in a cleaner, more cohesive, and visually engaging experience.
The new design reduced drop-off rates from 30% to 19%.
Improved from 30% drop-off to 19%
Further insights
Another key insight centred around how users top up their accounts. While the existing experience supported ad-hoc payments, it required users to manually return to the app and initiate a ‘top-up’ each time. Although flexibility is valuable, research showed that many users wanted a more convenient, automated way to contribute regularly.
Market analysis also revealed a shift in user expectations across fintech. Traditional terminology like ‘direct debit’ is becoming less prominent, replaced by more seamless, user-controlled payment methods such as Apple Pay and Google Pay. Competitors like Revolut have set a new benchmark, with users expecting greater flexibility and control over how and when they manage payments. This highlighted a clear need for us to evolve our offering.
It’s hard to add money so I’m less likely to come back and add to it each month. The addition of Apple Pay would be handy as I could top it up each month with a single click.’.
User test quote
The approach
Following this, I moved into rapid prototyping to explore potential solutions. Leveraging our design system, I created a high-fidelity prototype and tested the flow with five users.
I started by introducing “nice-to-have” features that could enhance usability without adding friction—such as the ability to set up a recurring payment during the first top-up, and quick access to payment management from the dashboard. This gave users control to pause, edit, or cancel their payment schedule at any time.
Key learning
Usability testing surfaced an additional need: users wanted the option to set a ‘resume date’ when pausing payments. This reflected real-life behaviour, where users may only want to temporarily stop contributions rather than cancel them entirely.
Below is an example of the onboarding flow for setting up a recurring payment, including necessary AML requirements.
TITLE OF THE CALLOUT BLOCK
Small changes
big impacts
These are just some examples of how we've approached making improvements to Smart Invest. Others include our 'address form' in the personal information section of onboarding, we now allow users to look up their eircode/first line of address in a single field. While also giving them the option of entering their address manually, this reduced errors by 3%.
Allowing users to look up their address with the first Line or eircode reduced address input errors by 3%
Reduced errors by
3%.
Further insights
We introduced pre-registration “intro” screens to give users a clear sense of the app’s value before asking for any personal information. Research showed that leading with data capture created friction, acting as a barrier to entry.
By reframing the experience to demonstrate value first, we reduced this friction and increased user confidence. This contributed to a 20%+ uplift in registration conversion, driving stronger funnel performance.
20% +
increase in Step 1 completions
Drop-offs at risk assessment!
We revisited the risk assessment stage—our digital advice flow—after identifying it as another key drop-off point. This step is essential for generating a personalised fund recommendation, but research showed that some users perceived the questions as intrusive.
To address this, we introduced contextual “why we ask” explanations, supported by optional info prompts where additional clarity was needed. This helps build trust and gives users greater confidence in sharing sensitive information.
Since implementing improvements across the Smart Invest onboarding journey, we’ve seen a reduction in drop-offs, an increase in conversions, and fewer customer support queries—indicating a smoother, more intuitive user experience.
North Star dashboard
A glimpse at some sketches and wire-frames for the new Smart Invest dashboard. These are data-driven concepts that were in progress as I finished up with Irish Life.
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