Designing For Approval - Lemonn Phase 1
A case study on navigating regulatory hurdles with strategic design to secure the STWT license for CoinSwitch's entry into stock trading.
My Role
UI/UX
Design Lead
Timeline
Jan'23 - Mar'23
(3 Months)
Focus
Regulatory Compliance, Prototyping
Constraint
Use of Existing App Components
Lemonn - Phase 1
Outcome : Approval Secured
The primary outcome of this intensive, compliance-focused design phase was a complete success. Our meticulous, regulation-first approach demonstrated that CoinSwitch was prepared to operate with the highest standards of security and transparency.
The prototype and our application were approved by SEBI for the STWT license.
The Path Forward
This approval was the critical green light that unlocked Phase 2: designing and building the MVP for public launch, which would eventually become the Lemonn app.
The Solution : A Compliance-First Prototype
Our solution was a high-fidelity prototype built entirely on the existing CoinSwitch design system. This ensured brand consistency and demonstrated that we were building upon a proven,
trusted foundation.
Onboarding & KYC : Designing for Compliance
We used familiar CoinSwitch UI patterns to create a
step-by-step, visually guided flow. Each screen handled a single task, and a prominent progress bar managed
user expectations.
Risk Disclosure by Design
We designed the declarations like DDPI, PEP, etc,. that required explicit user attention ("I have read and understood") before key actions, ensuring full compliance and transparency.
The First Trade : Guided & Secure
We designed a two-step order process. The first screen focused on user intent, and the second was a mandatory "Order Summary" screen to reiterate all details and prevent accidental trades.
Research : Decoding the Regulations
Unlike typical user research, our deep dive was into SEBI's regulatory documents and competitor compliance flows. The goal was to understand the rules of the game inside and out.
KYC is Non-Negotiable
SEBI mandates very specific steps. We had to design the exact required flow, making it as seamless as possible within those constraints.
Every Risk Must Be Stated
We couldn't hide risk disclosures.
They had to be explicit, clear, and often require user acknowledgment before proceeding.
Familiarity Breeds Trust
Leveraging the visual identity of our trusted parent company, CoinSwitch, was a strategic advantage with regulators.
Order Pad is a "Sacred" Flow
The flow for placing an order has numerous checks and balances required by SEBI. Our design had to incorporate these without creating friction.
Project Overview
Before "Lemonn" became a standalone app, it began as a strategic initiative to secure the STWT (Securities Trading through Wireless Technologies) approval from SEBI. This approval is mandatory for any company in India to offer trading via any kind of application.
My role was to lead the design of a prototype that would pass SEBI's strict compliance, paving the way for CoinSwitch's entry into the equities market.
THE CHALLENGE
Winning SEBI's Trust
The core challenge was not about acquiring end-users, but about satisfying a single, crucial stakeholder: SEBI. We needed to prove that a crypto-native company could operate a stock trading platform with the same level of security and compliance as established brokerage firms.
How can we design a prototype that meets all stringent STWT requirements while demonstrating a safe and trustworthy experience?
Landing Page
Login/Signup
OTP Verification
PIN
Home Screen
Search Results
Order Pad
Charges
Holdings
Positions
