Client Builder: Add bank information page
Project brief
Designing the new feature for investment onboarding application where users upload their bank information page.
Team
Christian Sawka
Linda Kohinski
Yoana Kodhyat
Felice Lam
Layla Bayramli
Responsibilities
UX research
UX/UI design
Content design
Context
13 weeks
Dec 2022-May 2023
Client Builder project
Design process
This is the usual process to proceed the project.
Gather known data
Definition & Ideation
Prototyping
Iteration & implementation
What is
Client Builder
The investment onboarding application allows clients to complete the application at their own pace, either in full or in parts they are comfortable with. Typically, clients provide their basic information, financial goals, and complete a risk questionnaire as part of the process.
User journey
This user journey shows the user process from users, advisors and system perspectives.
What is
Add bank information page
This page is dedicated to clients, providing them with the option to input their bank information by uploading a digital copy or photo of their void check. It's a voluntary step, giving clients the flexibility to skip this page if they choose not to provide their bank information.
Qtrade Direct Investing
Problems
Advisors often find themselves burdened with overwhelming manual tasks when new applications are submitted. Additionally, the word "funding" within the application can be intimidating for clients.
Mary
" It doesn’t make sense that advisors need to upload client’s void cheque"
Mike
"I don’t feel comfortable uploading my void cheque while filling the onboarding application..."
Research data from Qtrade Direct Investing
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Using the user flow work conducted in 2022, we have observed that QDI's funding page currently experiences an 11% drop-off rate.
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Referring to the work we conducted for Investor Onboarding, we found that 77% of investors choose to fund their accounts after they are opened. Additionally, we encounter 232 void cheque denials each month - our goal should be to minimize such occurrences.
Advisor's pain-points and thoughts
Client's pain-points and thoughts
Advisors need to decrease their manual work
Clients should upload their void cheque on their own...
There is no an opportunity to explore operational changes to further improve onboarding
Funding sounds terrifying
They drop off the page (11%) = 11% probably bc the page is ambiguous/ unclear/cumbersome to them
Their void cheque is denied monthly
They need to make sure they have sense of opening account (77% of clients decided to fund after their account is opened)
Key objective
Ensure clients will proceed the process without feeling being overwhelmed so that advisors will also can reduce their manual work and mitigate the minor errors on filling application.
Target audience
New investors including Credit Unions, Novice, experienced investors and investors switching brokerages.
UX research
Conducting these UX methodology
Persona
Creating persona based on the research data from Qtrade Direct investing
Competitor analysis
Researching other competitor companies to see the application process.
User journey
Mapping the idea user journey based on collected data and competitor analysis
Persona
This user journey shows the user process from users, advisors and system perspectives.
Competitors analysis
This user journey shows the user process from users, advisors and system perspectives. I conducted 4 different investment application. I took screenshots to see the user flow.
Wealthsimple competitive analysis
Wealthsimple user flow
BMO competitive analysis
BMO user flow
New discoveries
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Intuitive design
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Easy to navigate
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Clear visual design cues
Challenges for the new design
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Navigating a design with extensive information while avoiding user overwhelm.
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Eliciting a sense of achievement for users as they interact with the content.
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Clearly communicating the optional nature of a specific page or section.
User task flow
Understand the task flow by mapping and find new discoveries
Content inventory
Low-fidelity
Making Low-fidelity based on UX research. Layout what to place each section.
New touchpoint
To design the Add Bank Information page for Client Builder, I drew inspiration from both Qtrade Direct Investing Funding page and IIROC (Credential Asset Management). These two existing platforms belong to Aviso's line of business.
Reconsider the visual position/size
Revise the descriptions to evoke a feeling of account creation.
Keep the progress bar
Rearrange the steps and modify certain contexts to enhance clarity for users.
Use the Client Builder components
IIROC funding page
Keep this section. This section is to recognize the account in the system.
New design
Make it much clear explanations for both options.
Note:
Option A: Upload the doc in photo
Option B: Upload the doc in PDF
Giving the sense of almost completion of creating account but still sounds like this page is optional for users.
Provide the sense of almost completion of creating account but still sounds like this page is optional for users.
Visual cues to let users know if they upload the document successfully
Same thing applied to previous page; Visual cues
Giving users options to skip button.
New update: Chief Information Officer Canada 2023
Client Builder got awarded for CIO Canada 2023
Reflection
During the investor onboarding project, I experienced significant growth as a UX designer. Employing cross-functional methods and agile methodology, I navigated the project's challenges to consistently surpass deliverable standards. Collaborating closely with developers in regular meetings proved invaluable as I gained insights into technical feasibility and incorporated their expertise into the design process. Engaging in individual meetings with the Biz and user research teams enabled a deeper understanding of their perspectives, aligning our efforts and refining our approach to create user-centered solutions. However, we encountered a challenge related to budgeting for usability testing. To tackle this, we strategically opted for a more cost-effective approach such as using the pop survey to collect data of users behaviours and satisfaction with Client Builder. After that, conducting simplified testing that still provided valuable insights for introducing the new page.
Through this project, I realized the importance of effective communication and collaboration among various stakeholders, and how it positively impacts the design process and end-user experience. By skillfully navigating these interactions and leveraging the power of teamwork, I successfully delivered a well-received product.