Context: UX Audit of new Business Vertical

PhonePe is a dominant player in the payment apps space, which includes players like Google Pay, Paytm, BHIM, Amazon Pay and many more. 

Recently, with an uptick in investments in financial products, PhonePe has put a lot of focus on a new ‘category’ or ‘business vertical’ - Financial Services, or as it calls it: My Money.

This includes offerings ranging from Insurance to Mutual Funds to Liquid Funds, with more offerings added almost every week.

Now the challenge here is that, at the heart of it, PhonePe still is a payment app: i.e. A transactional app. 

But financial services are more ‘long term investments’ (pun intended). In essence: a mere transactional relationship is not possible for offering such instruments, especially to young, first-time investors - a large part of PhonePe’s user base.

One maybe ok if, due to payment issues, their pizza doesn’t get delivered, or a bill remains unpaid. But that is clearly not the case with financial products: say an SIP.

So, with this context, in this challenge, you need to do a UX Audit to find areas of improvement in PhonePe’s My Money flows for either Liquid Funds or SuperFunds.

You need to find 3 key areas of improvement from your audit. 

It goes without saying that minor usability tweaks are NOT the focus of this audit: please avoid sharing those inputs.

What are needed are issues that really matter to a genuine user wanting to buy/invest in a financial product.

Hence, research, either primary (user) or secondary (competition) or both, is a critical part of this challenge.

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