PROJECT 1: FOREIGN CURRENCY ACCOUNT
PROJECT SUMMARY
The Foreign Currency Account (FCA) allows customers to create an account to buy foreign currency, in order to hedge their funds. There are 8 foreign currencies available to buy. The process to open an account, fund it, and buy/sell currency thereafter is currently fairly manual - customers either fill out a form online, or in the bank. The form is processed by a forex FCA agent - users are contacted to confirm their details and to process the transfer of funds.
PROBLEM STATEMENT
The process to open an FCA account is time-consuming for the user, and labor-intensive (due to manual processing). As it is not instant, users are not able to fund their accounts at the exchange rate at the time, and risk losing money if the exchange rate is not in their favor at the time of processing. In addition, the FCA product faces strong competition from other banks, who have an existing and mature digital presence from similar competitor products. The form users fill in is shown below, digitizing the process means the overall flow and information need to be re-assessed, to suit the web channels (desktop and mobile).
ROLE
- Provide support to CX designers
- Requirements gathering
- Problem identifying
- Workshop facilitation
- Creating and iterating on wireframes
- Responsive design (desktop, tablet, mobile, app) and Android + iOS
- Create prototypes to be used in presentation/review sessions and usability sessions
- Presenting flows to various stakeholders (Product Owners, Product Managers, Head designer, Developers, Foundation team, Head of Forex)
- Incorporating feedback from stakeholders and users
- Preparing screener to recruit users for usability testing
- Creating question brief and scenarios for usability testing
- Observing during usability testing
- QA analysis
USER JOURNEY MAP
The as-is user journey map was completed by the CX designer on the team, and used to inform the UX work
STAKEHOLDER AND EXPERT USER INTERVIEWS
We interviewed 5 stakeholders and 3 expert users. Themes were extracted from the interviews. The interviews helped us gain an understanding of where the product currently is, and where they see it moving towards.
Form to fill in. Manual paperwork process, slight delay in being able to open a FCA account
WIREFRAMES
Task flow: Entry point: from My Accounts (Select Open) or Select more menu > Apply > Travel and International Accounts > Apply > Read info screen > Open account > Confirm/Edit personal details > Select accounts > Input values > Enter tax number > Accept quotation > Read success screen > Return to Dashboard > Buy or Sell currency to that account
For the Open & Fund FCA flow, I needed to solve for: SDA select placement, value entry and currency conversion component. Unlike the form, the flow on the app had to allow users to open and fund more than one Foreign Currency Account in one session.
Version1: Used the current pattern that existed at Nedbank. Users could only open one account, and enter the amount for one account using the input amount component. However, when multiple accounts are selected, it can be cumbersome for the user to enter an amount on separate subsequent screens. So version 1 was discarded. We needed a different component/pattern to input multiple values.
Version 2 & 3 were selected for usability testing (AB test). Both flows allow the user to select multiple accounts to open during one session, and fund them.
Version 2: Allows the user to choose which currency to input the value in, and shows the rate and equivalent in the other currency.
Version 3: Only allows the user to input the value in the currency of that account, while also showing the rate and equivalent amount in the other currency.
Version1: Used the current pattern that existed at Nedbank. Users could only open one account, and enter the amount for one account using the input amount component. However, when multiple accounts are selected, it can be cumbersome for the user to enter an amount on separate subsequent screens. So version 1 was discarded. We needed a different component/pattern to input multiple values.
Version 2 & 3 were selected for usability testing (AB test). Both flows allow the user to select multiple accounts to open during one session, and fund them.
Version 2: Allows the user to choose which currency to input the value in, and shows the rate and equivalent in the other currency.
Version 3: Only allows the user to input the value in the currency of that account, while also showing the rate and equivalent amount in the other currency.
A/B USABILITY TEST RESULTS
Users preferred version 3. They did not use the toggle in version 2, and it caused confusion. Being able to input the currency type of the account, as well as seeing the equivalent amount and exchange ratee in Rands, was sufficient.
PROTOTYPES
Open FCA flow. Single Discretionary Allowance selected.
Open FCA flow. User chose to not use their Single Discretionary Allowance. In this prototype, we added an enhancement that allows the user to upload their documents. In the previous iteration, the flow ended and users were told an agent will contact them to receive their documents.
Buy currency flow (once FCA is open and funded)
Sell currency flow
USABILITY TESTS OUTCOME
5 users were selected for usability testing. Users were asked to open an FCA account. And then once opened, to find that account in order to buy or sell currency to that account. Users understood Single Discretionary Allowance, and the difference between using it or not. They also found the example documents helpful. Users questioned the 'indicative rate' as displayed on the quote screen. They were unhappy with potentially getting a different rate at the time of transaction process, than the one shown. This was due to a technical restriction, however, the usability testing proves that this product may not be successful, if implemented without allowing a fixed rate. Another issue, was that some users expected to find their FCA account under the 'My accounts' home-screen.
COMPONENT DESIGN
As part of creating a desktop experience in-line and consistent with the app experience, I had to design a new component that allows users to input the amount in the currency of their choice.
FINAL OUTCOME
This project has not gone live yet.
PROJECT 2: CURRENCY USAGE RULES
One of the problems I identified within the forex team, was that we had many projects on the go, and a quick turn-over of designers. The usage of currency (symbols, wording, acronyms) was inconsistent across all the projects. I created a document, to outline the different scenarios we use currency, and whether we should use currency in symbol, acronym or word form. This was discussed and agreed upon within the team, and the document forms a guideline for future projects.
PROJECT 3: INTERNATIONAL INCOMING PAYMENTS
The first part of this project involved working-sessions with the team, to agree with the flow. Much of the patterns came from the previous project - outgoing international payments. So, for the IP project, I worked with the existing UX and designed the UI.
UI SCREENS
PROTOTYPE
