One year after we launched with our initial cohort of users, we were invited back to the annual iA Securities Portfolio Managers Meeting to discuss some of our learnings in the WealthTech industry. The message from the user panel discussion was clear: it’s all about creating the ultimate client experience. Here’s what some of our users are saying:
“I want to deepen my client discovery throughout the year with quick and intuitive touchpoints.”
“We want to serve all our clients equally, whether we manage their total portfolio or only their pension.”
“We want to implement technology that the whole team enjoys using. Our staff is engaged and excited to use TelosTouch.”
Co-Create Day 1: Understand the Problem
Before tackling any big challenge, it’s important to listen first. We kicked off the day by hosting a full day roundtable with a team industry experts, from insurance to data science to family offices and scaleups. Here are some of their top insights:
“The biggest breakdowns in building wealth systems happen when you don’t start from the user’s needs or you don’t take into consideration how the user makes decisions.” This is evident in financial services, where many legacy software and systems are clunky, hard to implement and have low adoption rates.
“To drive system adoption, ask for a little from your users and give them back a lot.” We loved this quote, and made it a fundamental principle for our product roadmap.
The team took a lot of notes and was hard at work identifying where our next big win was. When you let ideas flow, patterns emerge. The client, advisor and assistant journeys were now clear.
Co-Create Day 2: Diverge and Ideate
To fully unleash the team’s creative juices, we let our imaginations run. To do so, we set a few ground rules:
- Think alone, together. To make sure each person’s individuality flourished, every team member had the time and space to generate their own ideas. This prevented groupthink and encouraged divergent thinking.
- Just when you think you are done, squeeze out a bit more. We used a fun exercise to brainstorm rapid alternatives to our ideas. We were surprised at how many variations of the same idea emerged.
Next it was time to roll up our sleeves and get sketching. Everyone chose their favourite idea and took the rest of the day to fully develop an initial storyboard.
At the end of the day everyone was excited for the big reveal on Day 3 where we would showcase our solution sketches.
Co-Create Day 3: Let the Best Ideas Win
We were excited to showcase each of our ideas and to see what the rest of the team came up with. We turned our meeting room into an art museum. Each sketch was hung on the wall anonymously so we could let the best idea shine irrespective of the owner. (See us evaluating each other’s work below).
We each voted on our favourite sketches. In the end, the best idea turned out to be combination of several solutions. Indeed, none of us are smarter than all of us together!
Co-Create Day 4: Let's Prototype
With our storyboard complete, we could start prototyping our digital interface confidently. To help our designer, we assigned stitching and asset gathering roles. Stitchers constantly reviewed the prototype to ensure the user experience was intuitive. Asset gatherers aggregated useful media and visual components for designers to use.
After 4 long but amazing days, we had a full fledged prototype and couldn’t wait to show our future users!
Paulson showcasing potential user flows
At last, we could test our solution: a simple way for advisors to create meaningful client touchpoints to predict and guide financial behavior at scale.
Co-Create Day 5: Our Prototype is Ready for Feedback
Both anxious and excited for the final day of our Co-Creation Sprint, we had our first user interview scheduled. Would they love it as much as we did? How can we make it even better? We couldn’t wait to observe their reactions.
Some of the top comments we received were:
“The prototype is simple, beautiful and equally powerful for both advisors and clients. This is rare.”
“It's engaging, and it's easy. Direct to mobile is a powerful and intimate experience for clients.”
“We see it working well for our day to day items, as well as managing tasks during recurring events like RRSP and TFSA top ups during tax season.”
We also got some great ideas from our users for future TelosTouch applications. We can’t wait to test these new ideas and continue to Co-Create with our users. Thanks for being part of this journey and let us know if you want to contribute to the future of TelosTouch!