My Job:
UOBAM Invest is a robo-advisory mobile app, launched by UOB Asset Management Ltd, that offers retail investors in Singapore personalised, dynamic investment portfolios based on their risk profile, aggregate financial goals and investment horizon. The mobile app is the retail version of the UOBAM Invest online portal, which was first launched in 2018 for corporate investors in Singapore.
UOBAM’s technology partner on UOBAM Invest is FNZ Group, a leading global financial technology company that is backed by Temasek in Singapore. FNZ have supported UOB Asset Management in the development of its robo-advisory mobile app for retail investors. This app leverages FNZ’s global robo-advisory solutions that provide tailor-made portfolios for each individual investor, incorporating their attitude to risk and various life goals over time. The investment portfolio is then automatically monitored on an ongoing basis, ensuring portfolios can be optimised to people’s needs. This is not just digitising the original human advice process, it aims to provide a better investment outcome for the end investor through technology. By combining UOBAM’s investment expertise with FNZ’s market leading technology, investing is now simpler, smarter and more personalised.
According to a survey by UOBAM, retail investors said that the biggest draw of robo-advisers is that they provide a simpler and easier way to manage investments. However they were also concerned about the credibility, security and long-term viability of robo-advisers.
UOBAM is the first regional asset management firm to offer a robo-adviser with personalised portfolios for retail investors. They have an established track record in managing risks actively while optimising returns. Given the current market volatility from the impact of the COVID-19 pandemic, they want to bring the benefits of the risk-based approach – one that is trusted by institutional investors – to more retail investors through UOBAM Invest. This is so that they can also attain their financial goals with greater certainty.
In designing the UOBAM Invest mobile app, we addressed the priorities that individuals have when considering investing as part of their financial planning, namely the ability to make informed investment decisions, to have certainty around how to start investing and to have access to relevant knowledge.
This is the workflow for individuals to start with the UOBAM Invest App. At the beginning, users need to create an account to log in and fill in personal information to set up the account. After finishing the onboarding process, users will be directed to the Dashboard, in which users can see 5 tabs, including 'Home', 'Discover', 'Goals', 'Mail' and 'More'.
'Home' tab displays the asset structure via pie chart, risk level, number of goals and other transaction information including amounts, dates, payment methods and frequency. It also provides entries for portfolio details, risk profiles, transaction, rebalancing and portfolio planner, which will be introduced in 'Goal' tab. 'Discover' tab directs to external websites of UOBAM and provides updated news and financial knowledge. 'Goal' tab showcase the portfolio planer, in which users can view the projected value and portfolio details in 2 different formats of charts and cards, which is calculated based on the goals set up and contributions made by users. In this tab, users can also easily get access to add/edit goals and contributions, edit their risk profiles by retake the questionnaire. In 'Mail' tab, users can read different types of notifications sent by UOB. 'More' tab provides other additional helpful functions such as editing personal details or banking details, reading documents, settings for account and notification preferences, contact methods, FAQs and log out.
Overall, the work flow and information architecture is clear and easy for users to start, which I think is a great advantage for a financial app.
