UX Benchmarking for FBN Investment App

Praiz UX
PraizUx
Published in
3 min readJul 26, 2019
Image Source: Userzoom.com

In designing an app, measuring its usability and quality of experience is non-negotiable. It is important that one is able to measure accurately the performance of app when placed side by side with one or more of its competitors.

It’s also essential that app performance is monitored over time. With these checks and balances in place, one is able:

  • Identify the app’s of strength and weaknesses
  • Gain market intelligence
  • Optimize the app for ease use
  • Measure brand perception
  • Consistently improve on app features

The FBN Quest app was designed to give FBN Quest customers an interactive and easy platform with which they can save, invest and grow their earnings. Pre, during and post app design, the FBN Quest app was bench-marked alongside competing applications in the same industry to ensure the app delivers a seamless user journey and interactive interface.

In designing the FBN Quest app, the following design considerations were prioritized;

Intuitive and Interactive Interface — We designed an app which users can navigate easily with existing mental models without being confused or confounded.

Usability — The app was designed to be learnable for users and easy to use.

Customer-Centric — We understand the value of customer experience, so we replicated the same high expectation users expect when relating with a live customer care representative, hence the interactive design of the FAQ and Live Chat feature.

Security & Trust — Designing for trust remains our topmost priority to increase Customer Retention and Customer Lifetime Value. Considering the sensitivity of the FBN Quest app, we paid particular attention to this feature.

Futuristic Features — We benchmarked the Roboadvisory, Investment Calculator and Financial Planner features with other top-performing apps in both local and international markets. Since investing is closely linked with risk-taking, we included the Robo-advisory which is able to serve in almost the same capacity as a human broker, offering the user investment advice. We’ve also made these features interactive for users in keeping with their existing mental models.

Constraints

  • Friction born out of the attempt to create a retail product out of strict corporate properties.
  • Restriction to use non-human elements.
  • Expression of brand colours.
  • Extensive onboarding flow heightened by the key stakeholders.

SUMMARY

Based on the analysis we carried out, we can attest that the FBN Quest App is designed to exceed the expectations of its end users, from the fluidity to security, ease of use and even support. Although we were constrained by strict brand guidelines, which affected the use of colours and the restriction to non-human elements among other challenges that come with creating a retail product from a strictly corporate brand guideline, the FBN Quest app still proves to have exceptional performance and a strong build.

Regardless, the FBN Quest app will still stand tall when placed side by side with competing apps that perform the same function.

BENCHMARK REFERENCES

Nigerian

Cowrywise

Stanbic Appyness

ARM Payday Investor

AXA Mansard mobile app

International

HSBC

Acorns

Robinhood

Chip

The FBN Quest App is currently in production.

Below is a few wireframe sketch I can share with you at the moment.

https://www.figma.com/file/Pg8miGhTZ17vUCgnzlecrg/fbnquest_figma-(Copy)?node-id=7%3A4

https://www.figma.com/file/cusl0v4KWtPcyqASPM7x8eTU/FBN-Wireframe?node-id=98%3A64

Project Contributors

UX Researcher — Praiz UX

UX/UI Designer — Tolulope Oladimeji

Product Manager — Segun Womiloju

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