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Increasing Account Opening completion by 40%

Fintech

Online Account Opening 2.0

Creating custom experiences for credit unions

Project Overview

Bankjoy provides credit unions and small community banks with digital banking SaaS services. This is the story of the Online Account Opening product’s transformation.

Problem Statement

The platform struggled with a 76% account opening abandonment rate. Users encountered unexpected steps, and poor mobile optimization, leading to frustration and drop-offs.

Industry

Fintech

My Role

Lead Designer

Platforms

Responsive Web

Timeline

January 2022- March 2022

Persona

Jon Roberts

Marketing Manager

I just want open an account — no surprises or unnecessary steps!

Age: 29

Location: New York City

Tech Proficiency: Moderate

Gender: Male

Goal

Quickly open an account without surprises.

Trust the platform to handle his information securely.

Access a seamless mobile experience.

[Frustrations]

Long or confusing sections of form.

Error messages that don’t explain the issue.

Poor mobile optimization

Process

01 User Research

Conducted user interviews with 5 clients to understand their frustrations and preferences.

Analyzed user behavior data to pinpoint where users dropped off in the process.

Benchmarked against competitors to identify best practices for account opening flows.

01 User Research

Conducted user interviews with 5 clients to understand their frustrations and preferences.

Analyzed user behavior data to pinpoint where users dropped off in the process.

Benchmarked against competitors to identify best practices for account opening flows.

01 User Research

Conducted user interviews with 5 clients to understand their frustrations and preferences.

Analyzed user behavior data to pinpoint where users dropped off in the process.

Benchmarked against competitors to identify best practices for account opening flows.

02 Insights

Users were frustrated not knowing what was needed to finish the process.

Mobile users struggled with unresponsive layouts.

Lack of trust and comfort with providing personal linformation

02 Insights

Users were frustrated not knowing what was needed to finish the process.

Mobile users struggled with unresponsive layouts.

Lack of trust and comfort with providing personal linformation

02 Insights

Users were frustrated not knowing what was needed to finish the process.

Mobile users struggled with unresponsive layouts.

Lack of trust and comfort with providing personal linformation

03 Design Solution

Simplified the sections and changed content to gain trust

Redesigned messaging and primer screen to inform users about proocess

Added features like inline form validation

03 Design Solution

Simplified the sections and changed content to gain trust

Redesigned messaging and primer screen to inform users about proocess

Added features like inline form validation

03 Design Solution

Simplified the sections and changed content to gain trust

Redesigned messaging and primer screen to inform users about proocess

Added features like inline form validation

04 Testing & Iteration

Conducted usability testing with 100 users, comparing the original and redesigned flows.

Gathered feedback through usability testing and refined the design based on user input.

Designed a mobile-first layout with larger touch-friendly buttons and simplified stepper

04 Testing & Iteration

Conducted usability testing with 100 users, comparing the original and redesigned flows.

Gathered feedback through usability testing and refined the design based on user input.

Designed a mobile-first layout with larger touch-friendly buttons and simplified stepper

04 Testing & Iteration

Conducted usability testing with 100 users, comparing the original and redesigned flows.

Gathered feedback through usability testing and refined the design based on user input.

Designed a mobile-first layout with larger touch-friendly buttons and simplified stepper

Outcome

40% increase in account opening completion rates.
Bankjoy’s Online Account Opening 2.0 solution made the company a standout in this year’s FinTech Breakthrough Awards. Business Wire, March 2024

Key Learnings

Simplification is key

Users value a quick and easy process, especially on mobile.

Simplification is key

Users value a quick and easy process, especially on mobile.

Simplification is key

Users value a quick and easy process, especially on mobile.

Iterative testing pays off

Regular testing uncovered hidden issues and ensured the design met user needs.

Iterative testing pays off

Regular testing uncovered hidden issues and ensured the design met user needs.

Iterative testing pays off

Regular testing uncovered hidden issues and ensured the design met user needs.

Details matter

Small improvements, like error validation and mobile optimization, had a significant impact.

Details matter

Small improvements, like error validation and mobile optimization, had a significant impact.

Details matter

Small improvements, like error validation and mobile optimization, had a significant impact.

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