XP Investimentos

About the company

XP Investimentos is one of Brazil’s largest independent financial institutions, operating as a brokerage and investment platform.

Founded in 2001, XP offers a wide range of services, including securities brokerage, financial advisory, asset management, and innovative investment products. It stands out for its digital approach, advanced technology, and extensive network of independent agents. XP Investimentos has played a significant role in transforming Brazil’s financial landscape, providing accessible and educational pathways to the investment market.

Contents

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General Context

XP Investimentos Institucional stands out by playing a crucial role in serving corporate clients, investment funds, companies, and other financial institutions. XP’s activities in this field are based on providing comprehensive solutions designed to meet the diverse investment and asset management needs of these clients.

Specialized Financial Advisory: XP Investimentos takes on a consultative role, offering specialized financial advisory services to institutions. Its highly skilled team of professionals works closely with clients, understanding their financial goals and providing strategic guidance.

Advanced Trading Platforms: Financial institutions require robust tools for asset management. XP Investimentos provides advanced trading platforms that enable efficient portfolio management, real-time data analysis, and swift, secure order execution.

Institutional Brokers

Role: Institutional brokers act as intermediaries between XP Investimentos and financial institutions, executing buy and sell orders to ensure transaction efficiency and security.
Advanced Trading: These professionals excel in advanced trading, understanding the dynamics of the financial market and seeking the best opportunities for institutional clients.

Institutional Financial Advisors

Role: Offer personalized financial advisory services, understanding the specific goals and needs of institutions. They build close relationships to ensure proposed solutions align with strategic objectives.

Investment Analysts

Role: Conduct market research and analysis, providing valuable insights to support investment decisions. They keep clients informed about market conditions and suggest appropriate strategies.

Financial Product Specialists

Role: Experts in various financial products, assisting institutions in selecting those best suited to their strategies. They provide continuous training, ensuring a detailed understanding and effective risk management.

Profissionais de Tecnologia

Role: Develop and maintain technological platforms for trading and asset management. They ensure technological solutions meet institutional clients’ needs, working alongside the design team to enhance user experience.

My Role

I worked cross-functionally in two squads: one focused on creating products for external clients and another on improving products used by XP’s internal brokers. As part of the design team, I contributed to enhancing the interface and user experience in both contexts, delivering visual and functional solutions aligned with institutional needs.

My Activities

Conduct qualitative/quantitative research;
Perform benchmarks, highlighting different product features from a specific perspective;
Define discovery and ideation strategies;
Identify opportunities aligned with business expectations and validate hypotheses based on user behavior and needs;
Create low, medium, or high-fidelity prototypes depending on the requirement;
Validate ideas with stakeholders, developers, business units, and customers.
Advocate for the user’s voice in every decision (user-centered approach);
Facilitate problem-solving by demonstrating expertise and empathy for user pain points and needs;
Create flows, conceptual diagrams, and user journeys, mapping various interactions between internal and external stakeholders;
Validate products at various stages;
Contribute to the creation and maintenance of Design System components;
Act as a champion of design culture within the company.

1.PC Platform

Private Credit Platform

The Challenge

AThe electrification of institutional trading represents a significant shift from traditional methods, which relied on phone communications, Bloomberg chat, and the traditional trading floor. The central challenge of this project was to pioneer the transition to the digital environment, transforming an experience previously rooted in conventional means into an electronic context.

The primary goal was not only to migrate to digital but also to add substantial value to the user experience in this new setting. This required rethinking processes, developing advanced electronic trading platforms, and ensuring a smooth transition for participants in the institutional market. The mission was to create not just a digital alternative but an experience that exceeded expectations, bringing efficiency, agility, and innovation to institutional trading.

The project aimed not only to digitize transactions but also to provide tools and resources that embraced the paradigm shift, delivering tangible benefits to users such as increased speed, transparency, and accessibility.

My Role

As a designer in this institutional trading electrification project, my role was comprehensive and strategic. My responsibilities included:

User Research and Understanding: I conducted qualitative and quantitative research to understand the needs and expectations of institutional users. This involved frequent interactions with stakeholders, analyzing feedback, and gaining an in-depth understanding of the trading environment.

Design Ideation and Strategy:I actively participated in defining discovery and ideation strategies, identifying opportunities for improvement and innovation in the electrification process. I collaborated with multidisciplinary teams to translate insights into effective design solutions.
Prototyping and Validation: I developed low, medium, and high-fidelity prototypes, adapting them to the project’s needs. I conducted frequent tests to validate ideas with stakeholders, developers, and end users, ensuring the design met the identified expectations and needs.
User Experience (UX) Design: I was responsible for creating a seamless and intuitive user experience on electronic trading platforms. This included designing user interfaces, navigation flows, and applying user-centered design practices.
Stakeholder Collaboration: I maintained constant communication with stakeholders, including brokers, financial analysts, and other institutional market professionals. I understood their perspectives, concerns, and feedback, ensuring the design reflected their needs.

Design Process

Continuous Discovery and Iterations in Release Waves (V1, V2, and V3)

The design process for the private credit platforms was characterized by a continuous discovery approach and iterative release waves, enabling progressive improvements.

Continuous Discovery:

Continuous research to understand the evolving needs of users and market dynamics.
Ongoing analysis of feedback from stakeholders, traders, and other participants.

Wave 1 (V1)

The development of the first version (V1) of the private credit and government bonds platforms was guided by a validation and strategic alignment process led by Product Managers (PMs) in close collaboration with stakeholders. This approach aimed to ensure that the solution fully met the expectations and needs of the target audience

Validations and Alignments:
- Intensive meetings with PMs to understand the project’s requirements and objectives.
- Continuous dialogue with stakeholders to ensure strategic alignment and identify critical factors for the platform’s effectiveness.
Simplified Version (V1)
- Development of a simplified V1, prioritizing the essential functionalities identified during the validation process.
- Focus on creating an intuitive and user-friendly interface
Offer Launch via Ticket:
- Implementation of the capability to launch buy and sell offers directly through the ticket, providing users with a straightforward and efficient experience.
Validation, Testing, and Interviews:
- Conducted extensive testing to validate the performance and usability of V1.
- Conducted interviews with key users to gain in-depth insights into the platform’s effectiveness and identify potential areas for improvement.
Pain Point Monitoring:
- Continuous monitoring to identify pain points and challenges faced by users while using V1.
- Gathering feedback and metrics to guide future iterations and enhance the user experience.

The validation and strategic alignment-centered approach during the initial development phase was essential to establishing a solid foundation. V1, being simplified and functional, provided an effective starting point for the continuous cycle of improvements and subsequent iterations.

Focus on creating an intuitive and user-friendly interface

Development of a simplified V1, prioritizing the essential functionalities identified during the validation process.
Focus on creating an intuitive and user-friendly interfaceValidation, Testing, and Interviews:
Conducted extensive testing to validate the performance and usability of V1.
Conducted interviews with key users to gain in-depth insights into the platform’s effectiveness and identify potential areas for improvement.

Wave 2 (V2)

After the successful launch of the first version (V1) and the valuable collection of user feedback, the iteration phase for creating V2 of the private credit and government bonds platforms began. This stage focused on significant refinements aimed at improving usability and delivering an even more efficient and engaging experience.

Key Actions Taken in the Iteration of Version 2

Offer Launch Directly from Table Cells:
- Introduction of an innovative feature that allowed users to launch buy and sell offers directly from table cells.
- Simplification of the trading process, making it more agile and accessible.
Sound Design for Enhanced User Experience:
- Implementation of a carefully designed sound system to enhance user interaction.
- Specific sounds were assigned to critical events, such as when an order was surpassed by another offer, notifying users of significant market changes.
- Addition of a distinct sound to indicate the acceptance of an offer and the successful completion of an asset purchase transaction.
Enhancement of the Trading Experience:
- Continuous refinement of the trading interface to provide a more intuitive and user-centered experience.
- Integration of specific user feedback, driving improvements in workflows and data presentation.
Testing and Validation:
- Conducted extensive testing to ensure the new features were robust and free of issues.
- Validation through interviews and interactions with users to ensure the changes met expectations and needs.

The iteration of V2 not only enhanced the functionality of the platforms but also demonstrated a continuous commitment to innovation and adaptation to market demands. The strategic use of sound and the simplification of processes significantly contributed to a more engaging and effective trading experience. These improvements paved the way for continuous evolution in future iterations of the project.

Introduction of an innovative feature that allowed users to launch buy and sell offers directly from table cells.
Simplification of the trading process, making it more agile and accessible.

Wave 3 (V3)

Addition in Version 3: Outbidding Other Traders’ Orders

In Version 3, an innovative feature was introduced to provide an even more dynamic and competitive trading experience. With this iteration, users gained the ability to outbid other traders’ orders, enhancing interactivity and flexibility in operations.

Key Aspects of the Addition:

Enhanced Competitiveness:
- The introduction of the ability to outbid orders added an element of healthy competition to the trading environment.
- Traders now had the opportunity to respond quickly to market changes, outbidding existing orders and seeking strategic advantages.
Dynamism in Trading:
- This functionality introduced a new level of dynamism to trading, allowing users to adjust their strategies in real time based on market movements.
- The ability to outbid orders added an extra strategic layer, providing greater control over operations.
Immediate Feedback:
- The system provided immediate feedback on outbidding orders, ensuring that traders were aware of changes in the status of their operations.
- This contributed to quicker and more informed decision-making by users.
Improved User Experience:
- Inclusion of the Blooter, a historical field at the bottom of the page that allows traders to track what happened with their orders, whether they were executed, canceled, or otherwise.

This strategic addition in Version 3 not only enriched the dynamics of trading but also highlighted the platform’s adaptability to the ever-evolving needs of traders. The ability to outbid other traders’ orders introduced a new dimension to the decision-making process, reflecting a continuous commitment to innovation and the creation of a responsive and agile trading environment.

2.TPF Plataform

Federal Government Bonds Platform

The Challenge

Development of a platform for trading federal government bonds in the fixed-income sector, aimed at reducing volatility. Although a new tool, the initiative did not start from scratch. It began with alignment between stakeholders and product managers (PMs), and was later refined through successive waves of iterative development.

Design Process

The design process for the private credit platforms was characterized by a continuous discovery approach and iterative release waves, enabling progressive improvements.

Continuous Discovery:

Continuous research to understand the evolving needs of users and market dynamics.
Ongoing analysis of feedback from stakeholders, traders, and other participants.

Wave 1 (V1)

In the initial version of the platform, trading was conducted daily through a broker. The broker activated the trading of NTN-B bonds at specific times during the day, providing traders with the opportunity to execute transactions. The assets were displayed sequentially on the screen, and traders could place two bids, following a format similar to an auction. After a few minutes, the message “going through” appeared on the screen, and the highest bid secured the predefined lot of NTN-B bonds. During this process, the values remained available to the market.

Wave 2 (V2)

In the second phase of platform enhancement, we implemented significant improvements based on in-depth research. These included expanding trading options beyond NTN-B bonds to also include LFTs (Treasury Direct). Additionally, there was a substantial upgrade to the interface, making the user experience more intuitive and efficient. This stage reflects our ongoing commitment to excellence and adapting to the needs of the market and users.

Identified Issues

The main challenges faced included low adoption of the platform, with minimal usage recorded. Users showed a preference for traditional methods such as phone and Bloomberg trading. Additionally, limited stakeholder engagement was observed, highlighting the need for additional strategies to promote adoption and emphasize the platform’s benefits. These issues were identified as key areas to address in the next stages of development.

Solution: UX Insights

The first solution identified was the monitoring of data and screen recordings using tracking software. Regular reports and surveys were conducted to uncover potential improvement hypotheses, which were later explored during the discovery process. This approach aimed to provide valuable insights through a detailed analysis of user behavior, enabling the identification of specific areas that could be enhanced to optimize the platform experience.

3.Ticketing System

Context

After the trades between traders and between traders and brokers, it is necessary to generate a document that functions as a “receipt” for these transactions. This process is essential both for the internal control of institutions and for meeting federal tax obligations. The project described here aimed to improve the ticketing process, seeking to optimize the generation of these documents and ensure greater efficiency in providing the necessary information for institutional and tax records.

The Challenge

The proposed challenge involved re-evaluating the existing ticketing system, called “boletadorzinho,” which was managed by an external server. Despite being outdated and offering limited functionalities, it was widely used by brokers. Meanwhile, there was an internal ticketing system with low adoption. The goal was to understand the valuable elements for brokers in the old ticketing system, identify the issues in the existing web-based ticketing system, and propose an improved version, the Boletador Web 2.0. This new version was intended to incorporate insights gathered and introduce significant improvements. As part of the challenge, the final objective was to phase out boletadorzinho due to the maintenance complications associated with the external server.

My Role

In this project, my role encompassed various areas, including UX (User Experience), UI (User Interface), user research and validation, as well as the entire management of the discovery process (requirements and needs gathering) and QA (Quality Assurance). This multifaceted approach allowed for an integrated view of the development process, from the design of interfaces to validation with end users, ensuring the delivery of a solution aligned with the expectations and needs identified throughout the project.

Success Metrics

Reduce the average time for ticketing so that the broker can perform other activities: from 3 minutes in the web ticketing system to 30 seconds in the old system.
Provide access to all brokers.
Achieve 80% adoption of the web platform by brokers.
Indirectly improve the experience of external clients.

Design Process

Kick Off

At the start of the project, a kick-off process was conducted, a crucial step for aligning all involved parties. During this phase, there was intense interaction with the Product Managers (PMs) to understand the guidelines, goals, and expectations of the project. Additionally, necessary access was provided to ensure an efficient immersion into the project environment.

User Group Identification: Identifying and defining the user group was a key step. Understanding the characteristics, needs, and expectations of this target audience provided a solid foundation for developing user-centered solutions.

Identificação do Grupo de Usuários: A identificação e definição do grupo de usuários foram passos essenciais. Compreender as características, necessidades e expectativas desse público-alvo proporcionou uma base sólida para o desenvolvimento de soluções centradas no usuário.

Desk Research

The process began with extensive desk research, which involved a thorough analysis of existing information. A survey of data, studies, and relevant documents was conducted to understand the context, best practices, and market trends.

Benchmark: Following this, a benchmark was conducted, which involved a comparative analysis with the industry’s key references. This phase included evaluating other similar platforms, identifying strengths, weaknesses, and innovations. The goal was to extract valuable insights that could guide the development of the platform.

Creation of the CSD Matrix (Context, Scope, and Data): A CSD Matrix was created, addressing the project’s context and the scope of the activities to be developed. This matrix served as a strategic guide to align actions and ensure that all team members shared a consistent vision.

Criação da Matriz CSD (Context, Scope, e Data): foi elaborada uma Matriz CSD, abordando o contexto do projeto, o escopo das atividades a serem desenvolvidas. Essa matriz serviu como um guia estratégico para alinhar as ações e garantir que todos os membros da equipe compartilhassem uma visão consistent

Research

In the initial phase, seven interviews were conducted with users to deepen the understanding of their needs, identify pain points, and address questions present in the CSD (Customer Success Design) matrix. This direct approach with users provided valuable insights into their experiences, expectations, and challenges.

The specific objectives of this phase were:

Pain Point Survey: Identifying the main frustrations, challenges, and areas of dissatisfaction users had with the platform.
Answers to the CSD Matrix: Addressing the questions posed in the CSD matrix, providing a clearer understanding of users’ needs.
Usage Identification: Mapping user patterns, preferences, and habits during their interaction with the platform.

This initial research was crucial in supporting design decisions, guiding the development of solutions to meet user demands, and ensuring that the platform aligned with their expectations. The feedback collected in this phase served as the foundation for the evolution of the interface and the enhancement of the user experience throughout the project.

Shadowing

Two days were dedicated to shadowing, an approach that allowed for a deeper immersion into the daily activities of two key users. Each day, we closely followed one user’s work, providing a more in-depth understanding of their specific tasks and challenges.

During this period, the interaction was more hands-on and direct, including conducting a real ticketing process as an experiment. This practical approach enabled a detailed understanding of the navigation flow, particularly regarding keyboard usage, including shortcuts like “tab” and directional arrows. This direct observation uncovered nuances and difficulties that might not have been fully addressed in the initial interviews.

The shadowing process not only enriched the understanding of the users’ work processes but also helped identify improvement opportunities in the interface, ensuring that the proposed solutions were aligned with the users’ real needs, thus enhancing the ticketing experience on the platform.

Feature Mapping

After completing the analysis of results from previous phases, we dedicated considerable time to map out the potential features that would make up the new version of the ticketing system. At this stage, I resumed conversations with the two main brokers closely involved in the project to better understand their needs and expectations.

During these discussions, we worked to identify the priority items, pinpointing the features considered essential to enhance the efficiency and usability of the new ticketing system. This direct collaboration with end users was crucial to ensure that the selected features were aligned with their real needs, ensuring the new version fully met their operational expectations.

This co-creation process and constant alignment with key stakeholders helped define a clear roadmap focused on the project’s strategic priorities.

Business Prioritization

After filtering the final users’ needs, we held a strategic meeting with the Product Manager (PM) and the Tech Lead of the squad to define the prioritization of features for each version. During this meeting, we carefully considered both business aspects and technical feasibility to ensure a balance between market demands and implementation capacity.

In this discussion, we took into account not only the importance of the features for the end users but also their alignment with the product vision and the company’s strategic objectives. The PM provided valuable insights into business priorities, while the Tech Lead assessed technical complexity and available resources.

The outcome of this collaboration was the creation of a clear plan for subsequent versions of the ticketing system, with a strategic distribution of features aimed at delivering the maximum positive impact for end users, while considering the practical and technical aspects of implementation. This aligned approach between business and technology was crucial to ensuring the continued success of the project.

Ideation with the Development Team

Based on all the defined parameters, I led an ideation session with the team, highlighting the active participation of the developers. Using a “Crazy 8s” dynamic, I created a creative space where each team member had the opportunity to generate eight quick ideas in a short period of time.

This approach not only encouraged the rapid generation of ideas but also allowed the developers to share their perspectives and understanding of the project. During this session, I facilitated discussions on the technical feasibility of the proposed ideas, fostering a collaborative and engaged environment.

The active participation of the developers not only enriched the ideation process by providing valuable insights but also strengthened their sense of ownership and commitment to the project. Keeping the team informed and involved from the early stages of the project was essential to promoting a collaborative work environment and ensuring that the proposed solutions were well-received and feasible to execute.

Results

V1

V2 - Product Setup

In the second version of the project, we migrated the ticketing system to a new platform called “Product Setup,” which was also under development. In this first iteration, we focused our efforts on adapting the ticketing system’s visual identity to integrate it cohesively with the new platform.

4.Protopersonas

Context

Before the implementation of the previously mentioned platforms, transactions were conducted in a traditional manner, involving negotiations via phone and Bloomberg chat. In this challenging scenario, the goal was to develop products and solutions aimed at optimizing and modernizing this process, providing greater efficiency and agility for investors’ operations.

The target clients for these solutions were primarily institutional investors from other banks who were involved in trading with XP Investimentos. This specific audience required tools that facilitated portfolio management, trade execution, and the gathering of valuable insights in a dynamic and highly regulated financial environment.

However, we had limited understanding of the key characteristics of these investors, as communication with them was facilitated through brokers (stakeholders).

The Challenge

Within the institutional context, we faced specific challenges with a restricted audience, whose work schedules limited the time available for interviews and traditional persona creation. In light of this reality, we implemented the process of developing protopersonas.

Protopersonas thus become an effective tool to kickstart the design process, providing valuable insights that can be refined throughout the project’s development. This agile and adaptive approach is crucial to ensure that time and availability constraints do not compromise the quality of user understanding and, consequently, the effectiveness of the proposed solutions.

My Role

Creating protopersonas was a crucial part of the design process, where I, as a professional, conducted interviews, collected data, and used this information to create fictional, yet data-driven, representations of the target users. My responsibility included synthesizing the collected information, identifying patterns, and creating visual representations that encapsulated the essential characteristics of each protopersona. These visual representations were then integrated into engaging presentations, providing a deeper understanding of the users to the team members and stakeholders. This work played a vital role in making informed decisions during the design process.

Design Process

Analysis of Internal Materials

We conducted a thorough review of recordings and notes from previous user interviews. Analyzing these records provides us with valuable insights into the experiences, expectations, and challenges users faced in real-life situations.

Additionally, we explored past brainstorming sessions related to protopersonas. The insights generated during these sessions significantly contribute to the creation of detailed representations of our target user profiles. Through this collaborative approach, we were able to integrate various perspectives and knowledge from the team, enriching our overall understanding of the users.

Another crucial element was the review of boards from previous projects. Examining the history of past projects gives us an in-depth view of the challenges previously faced and the solutions proposed. This not only helps avoid reinventing the wheel but also allows us to learn from past experiences, continuously refining our design methods and strategies.

Collaborative Dynamics with Stakeholders

The initial dynamic with stakeholders was designed as a collective and participatory approach, aiming to discuss and define the behavioral profiles of users. We believed that this collective strategy would provide a comprehensive view, incorporating the diverse perspectives and experiences of the stakeholders.

However, due to challenges related to scheduling and the difficulty of gathering a significant quorum in the collective sessions, we decided to adapt our approach. The solution was to conduct individual interviews with the stakeholders. This shift allowed for greater flexibility in terms of scheduling and ensured the effective participation of each member, even with tight agendas.

Although we adjusted our methodology, the core objective remained unchanged: to deeply understand the nuances of user behavior. The individual interviews provided a more personalized space for each stakeholder to share their perceptions and experiences, resulting in valuable insights into specific needs and expectations.

This adaptation demonstrates our agile approach and the ability to adjust strategies to overcome challenges, ensuring that the quality of the research and understanding of users is not compromised by operational obstacles.

Clustering

The clustering process of insights for creating protopersonas involved grouping similar information to define user profiles.

This method helped create more authentic representations of the target users, which are crucial for the success of any design project.

Continuous Learning

Over the subsequent months, metrics and performance of the interfaces that used the protopersonas in their process were monitored. This helped in the continuous learning about our users and in making possible updates to the protopersona profiles.

Solution

The proposed solution involves creating detailed profiles containing the protopersonas, which are fictional representations of users based on real data collected during interviews and research.

Each protopersona profile provides a comprehensive view of the user’s characteristics, addressing elements such as demographics, preferences, motivations, challenges, and goals. Additionally, visual representations are included to give a more human dimension to the personas.

Results

The practical implementation of these profiles in daily operations involves the continuous integration of these protopersonas into the development process. By keeping the profiles accessible to the team, developers, designers, and other members can consistently reference and validate their decisions in relation to user expectations.

These profiles become a crucial reference throughout the project lifecycle, helping the team stay focused on the real needs of the users. Additionally, they can be shared among team members, providing a unified understanding of different user groups and facilitating effective communication.

By introducing the protopersonas into alignment meetings, we noticed an increased emphasis on prioritizing features based on the specific characteristics of each profile. Stakeholders began referencing the protopersonas during discussions, using phrases such as:

“This feature will focus on the analytical profile“ or

“We need to consider how this will impact the Auctioneers.“

This shift in mindset directly impacts the agility of the development process, as teams are now more aligned with the expectations of real users. The discussions around the protopersonas serve as a tangible guide for decision-making, ensuring that the prioritized features are aligned with the specific needs of each user segment.

Furthermore, the inclusion of protopersonas in daily conversations brought a humanized element to the development process, constantly reminding the team that they are working to meet the needs of real people, each with their own preferences and challenges.

In summary, the integration of protopersonas not only optimized the projects in terms of agility but also strengthened the connection between the development team and stakeholders, resulting in solutions that are more targeted and aligned with the expectations of the target audience.

Networking?

Product Designer

• Remote | São Paulo – Brazil

Interested in collaborating or discussing a project? Feel free to reach out to me at karennlaurindo@gmail.com. I look forward to connecting!

XP Investimentos​

About the company

General Context

My Role

My Activities

1.PC Platform

Private Credit Platform

The Challenge

My Role​

Design Process

Continuous Discovery and Iterations in Release Waves (V1, V2, and V3)

Wave 1 (V1)

Wave 2 (V2)

Wave 3 (V3)

2.TPF Plataform

Federal Government Bonds Platform

The Challenge

Design Process

Wave 1 (V1)

Wave 2 (V2)

Identified Issues

Solution: UX Insights

3.Ticketing System

Context

The Challenge

My Role​

Success Metrics

Design Process

Kick Off

Desk Research

Research

Shadowing

Feature Mapping

Business Prioritization

Ideation with the Development Team

Results

V1

V2 - Product Setup

4.Protopersonas

Context

The Challenge

My Role

Design Process

Analysis of Internal Materials

Collaborative Dynamics with Stakeholders

Clustering

Continuous Learning

Solution

Results

Networking?

XP Investimentos

My Role

My Role