The new and improved PC Money Account application journey
TEAM
SKILLS
TIMELINE
PROBLEM, IN-app
As an existing PC Mastercard client, the experience of applying for PC Money Account feels bumpy and disjointed.
Below are the entry points for PC Money Account application for PC Financial credit card holders. As visible here, all entry points lead directly to an external link.
CURRENT EXPERIENCE
End-to-end application flow
Currently, we have around 80,000 users at the start of the application journey, and about 2,000 completed submissions monthly.
The flow here do not reflect the flow that I was working with. We have removed some employment info fields in this design. Please refer to the flow below for the exact user flow I had!
PROBLEM, IN-app
8/10 users feel that the PC Money Account is not explained enough within the app, but they also don’t prefer external links for additional info.
However, even when users proceed to click the link, they don’t get to learn more about the product and are directly prompted to apply.
PROBLEM, APPLICATION FLOW
Major drop-off points during application flow
Not mobile-optimized
The drop-off rates on screens like tax information and T&Cs are higher on mobile users
Text-heavy and certain sections require a lot of reading
The drop-off rates on screens like tax information and T&Cs are higher on mobile users
Text-heavy and certain sections require a lot of reading
Unnecessary
steps
Employment address and contact section deterred users
Re-asking SIN when users are tax residents of US/foreign countries even if they answered it prior
Employment address and contact section deterred users
Re-asking SIN when users are tax residents of US/foreign countries even if they answered it prior
Slow submission loading
The submission process can take up to 4 minutes. This causes users to drop
The submission process can take up to 4 minutes. This causes users to drop
Hypothesis
The cross-sell experience from the banking app was focused on the cross-sell presentment, not the end-to-end conversion journey.
HMW
How might we increase customers’ interest in the PC Money Account, and how might we sustain said interest through the application process?
Design Principles
Clear, minimal, and mobile-first
Kpi(s)
Defining success
Working with my product manager and business stakeholders, we aligned on the KPIs below to track our success through real data and user testing result:
Qualitative
Do users feel confident to apply after learning about the product in-app?
Click rate
Total clicks on the call-to-action for opening an account
Drop-off rate
Monitor the drop-off rate at major drop points
Submission rate
The number of complete applications submitted
DESIGN PROPOSAL
Autofill, remove, shorten, and reform
I collaborated closely with the engineering team to overhaul the end-to-end flow. Our goal is to seamlessly push users from the awareness stage to conversion, eliminating all disjointed experiences.
feedback and challenges
Content design, overlapping projects, and flexibility
After reviewing the first iteration of the design, below are the feedback and challenges I was facing:
miscellany
Design Sandbox
(Haha get it?)
final design
The new in-app PC Money Account application
RESULT
From application flow update, implemented on web
To kick off, we sent the changes to the application flow to production. We were welcomed with great results:
From 8.1 to 1.4%
on drop-off rate at employment info stage after we removed employer contact info and address
Up by 10%
on application submission rate total
30% decrease
on submission loading time (~2 minute longest, as opposed to previously ~3 minute) since users need to go through less screens to complete the application
RESULT
User testing
For more qualitative data on the end-to-end in-app application journey, I performed a user testing with 10 participants.
9/10
of users understand what the product is from the initial product page
8/10
of users feel confident to apply after the initial product page
“Clear, clean,
makes sense”
top keywords from users on the new in-app application process
NEXt STEPS
What's (planned) next?
This project is the pilot project of bringing all product application flow within the banking app. But before then, we need to perform the tasks below to ensure a solid ground for further development.
Post-launch monitoring
Monitor key KPIs (click rate, submission rate, bounce rate, drop-off points)
Edit Info page
Descoped on this project due to outcome pods conflict
Overdraft Protection (add-on) application
Descoped from this project due to the risk of scope creep