Alfa test work

My usual approach is to gather requirements and evidence, then explore ideas. I map the work into smaller tasks and add findings as I go, creating a project knowledge base. See the thinking here

Breaking down the process

Gather evidence

Market analysis, user profiles and needs, the current Alfa brokerage account journey and legal constraints.

Hypotheses and sketches

I structured hypotheses from the evidence and sketched ideas with notes on potential measures.

Testing

User feedback and findings

Designs

Create designs after testing

The following sections cover the discovery research

Use the navigation on the right to jump to a section.

View findings

How could a parent open a brokerage account
for a child at Alfa-Bank?

At the time of this study, there were no app entry points or an application landing page. Existing customers could ask in-app support for instructions; others had to search for information. A parent had to visit a branch with documents, where a manager installed an app similar to the adult investment app.

Children's banking in Russia

Products and services from Sber for ages 6-13 ranked highest in Frank RG's 2024 study of children's banking in Russia.

90%

of teenagers aged 14-17 use bank cards

Only 1% of them used an Alfa-Bank card. Link to the article
71%

of parents want a savings pot in a children's banking app

Link to the study
67%

believe children's banking apps should include financial literacy materials

Link to the study

Children's cards

Many banks offered dedicated products for under-14s. From 14, teenagers could use the standard app and most card features. In 2023, junior brokerage accounts were available at T-Bank, Sber and Finam. Link to the study, article about junior brokerage accounts

Children and money

Children's card spending patterns were broadly similar across Russia. View project study

Russian investor profile

Research sources: RBC, Frank RG and Central Bank data

35%

Investors aged 35-44

Around 78% of investors in Russia were men.
16%

were willing to invest for five years or more

Long-term choices included bonds (14%), blue-chip shares (13%) and property funds (12%).
36%

use brokerage accounts

However, 60% of those accounts were empty. Other data suggested that only 9% of Russians had investment experience.

Market findings

Teen investing was a relevant opportunity

90% of teenagers use banks

This gives the core audience an existing entry point to a brokerage account.

Parents of 14-17-year-olds were among the most active investors

People aged 34-45 were the most active investors, overlapping with parents of teenagers. Mothers opening a child's card were typically 36, and fathers 39.

Parents wanted banks to teach financial literacy

Surveys showed demand for educational content and additional features in children's banking apps.

People favoured shorter investment horizons

Surveys suggested adults were willing to invest for up to three years. Children were using savings pots for electronics and smaller purchases.

Social media use among 14-17-year-olds

According to MEDIASCOPE, teenagers used VK (87%), Telegram (87%), YouTube (83%), WhatsApp (75%) and TikTok (71%).

Defining the audience

View findings

Who opens a junior brokerage account?

The wider audience was 14-17-year-olds, considered together with their parents. The most relevant segment was Alfa-Bank customers with a brokerage account and teenage children, plus teenagers already banking with Alfa.

Parents aged roughly 35-45

Their children are likely to be old enough for a junior brokerage account. The parents are interested in investing and financially informed.

Teenagers aged 14-17

Younger children could engage with financial education from the age at which cards became available. The brokerage journey focused on 14-17-year-olds. Parental support and a clear explanation of investing were essential.

Insights from parent interviews

I interviewed four people interested in investing about teaching their children financial literacy, their attitudes towards teen investing and whether they would open junior accounts.

Olya Markhay, 46

Graphic designer, mother of a 19-year-old son
- I'm very cautious about investing.
- You need to understand it before you start.
- I'd feel more comfortable opening a savings account.
- What guarantees that shares will go up rather than down?
Katya Basova, 32

Business analyst, mother of a five-year-old son
- I'd like him to understand why people invest and how to manage money.
- Children won't read long articles. Investing needs to be explained in a format that works for them.
- Game elements could help children become interested in investing.
Irina Shishkina, 36

Designer and former finance professional, mother of a three-year-old daughter
- I've bought good books on financial literacy and plan to explain investing to my child.
- I'll open her a brokerage account if she wants one.
Pavel Solomonov, 32

Entrepreneur, father of a 17-year-old daughter and seven-year-old son
- You could invest in property so children have a home in the future.
- Securities feel less accessible because many people don't understand how they work.

Parents' concerns

About opening brokerage accounts for teenagers

Parents wanted to teach financial literacy but did not know how

They wanted guidance for their children or resources for independent learning, such as courses in banking apps.

Children could lose their money

Parents worried about scams and overspending. They wanted visibility into their children's spending and investments.

Limited trust in the Russian market and returns

Parents favoured savings accounts, precious metals or property, choosing what felt most stable.

Insights from a teen survey

I asked an acquaintance to find out what their friends knew about investing.

Girl, 17

I have cards from Tinkoff, Sberbank and Ak Bars Bank.
I chose them based on the app experience, card design and expiry date.
I know what investing is and what people can get from it. My parents don't invest. I don't have a brokerage account, but I'd like to try.
Our class doesn't study financial literacy, although others do. I'm interested in learning to manage money. I heard about investing at school and through exam topics.
Girl, 16

I have a bank card.
I've heard about investing, but my parents don't invest and I'm not interested.
We had financial literacy lessons in years seven and eight, but I didn't find them very interesting.
Boy, 17

I have Sberbank and T-Bank cards. I saw a T-Bank advert and wanted one.
I've heard about investing but haven't explored it. I don't have a brokerage account. I think I'd like to try.
We covered little financial literacy at school. I find it interesting, and I've also seen T-Bank investment adverts.

Teenagers' concerns

About opening a brokerage account

Parents were sceptical about investing

Teenagers might become interested even if their family did not invest, but getting parental consent could be difficult.

They did not know junior accounts were available

Teenagers generally knew little about financial products and opportunities.

Limited financial literacy

They had picked up fragments of information but lacked a wider understanding of finance.

Journey problems

When opening a teenager's brokerage account

Parents and teenagers did not know about the feature

The mobile app did not explain that a junior account could be opened.

An offline process

An online journey was planned, but the current process was inconvenient.

The child needed a bank card

Without one, the family first had to order a card and complete identity checks.

Needs the app could address

Learning financial literacy

Saving for major purchases

Keeping money secure

Understanding the global economy

Developing responsibility and independence

An engaging hobby and a broader perspective

Hypotheses

View sketches

How could we encourage junior account adoption?

Grow Alfa-Bank's audience aged 14-17

Offer relevant benefits, such as partner subscriptions and enhanced cashback in categories teenagers care about.

Add entry points for app users aged 14-17

Personalise recommendation feeds and content blocks for the audience segment.

Add teen investing entry points for parents with Alfa brokerage accounts

This audience was already familiar with investing.

Adapt the investment app for teenagers

aged 14-17

Use gamification to support engagement and loyalty

For example, game elements could create additional entry points.

Give parents visibility into their teenager's account

Parents worried about children losing money.

Journey map

I mapped how a parent would open a teenager's brokerage account from the Alfa Investments app.

Open in Figma

Testing

A useful reminder: speak to users early.

View results

What I tested

Entry points, account opening, information clarity, understanding of parental controls and expectations about managing a child's account.
Testing method

A task-based prototype: find and open a brokerage account for a teenager.
Participants

The participants were a mixed convenience sample, described below. They did not fully match the target audience, so the findings were exploratory and not representative. They were still useful for this design exercise.
Scenario

Participants were asked to imagine that their 14-17-year-old child wanted them to open a brokerage account in the app.

Participants

Pavel Solomonov, 32

Father of two; eldest daughter aged 17. An investor who did not bank with Alfa.

Selected feedback:

I'd like to understand the safeguards. I want to know about every action my child takes.
Saving and safety are different from investing. Investing is about growing savings while managing risk.
Overall, it feels intuitive.

Watch video

Svetlana, 52

Psychologist with one adult child; invests through Sber.

Selected feedback:

I'm a relaxed parent. I'd give my child an amount I can afford to lose and let them learn.

Leonid, 27

Invests through Tinkoff; no children.

Selected feedback:

I'd follow my child's progress and want to see their account beside mine.

Watch video

Vlada, 25

Designer; invests through Alfa Investments.

Selected feedback:

I need visuals. Without them, I can't picture how it will work.
I want quick access to my child's portfolio.

Watch video

Account opening flow

A parent opens a teenager's brokerage account in Alfa Investments.