A new generation of the Xe Currency app
- 80 million downloads of previous releases.
- Integrated money transfer quote.
- New flexible, incremental registration flow.
- Automatic ID verification from Onfido.
- New branding and colour palette.
- New software platform and back-end services.
- Versions for iOS and Android.
- Website updates to maintain compatibility.
Responsible for all Registration, Verification and Onboarding features.
Increased conversion by 92%
Increased same-day trade completion by 200%
The Challenge
Money transfer was the business’s key driver of growth, but the Onboarding process had been identified as a major blocker for efficiency and scalability.
- Only half of our site visitors were aware of our money transfer service.
- A very large customer drop-out rate (90%) during registration.
- Manual verification processes added significant cost and delay.
- Not all registered users went on to trade.
Research and Analysis
To tackle the problem, we formed a self-directed, multi-disiplinary “Onboarding squad”, with an ambitious brief to dive deep and develop solutions to drastically improve conversion rates, completion times and reduce costs.
I analysed historic usage pattern statistics and previous surveys of user demographics, requirements, motivations, attitudes and concerns. I also reviewed the existing registration flow, drawing on Adobe Omniture analytics, funnel statistics and session recordings from Mouseflow, and historical records of support calls to identify the key pain points. In addition, I undertook extensive competitor analysis, examining the approach of over a dozen websites offering similar services.
I identified many “quick win” improvements to improve user awareness on the homescreen and improve the efficiency of the registration flow, including a successful A/B test using Optimizely.
The New Registration Concept
However, it was clear that a major change in approach would be required to meet our KPIs. In particular, requiring every user to complete a lengthy, costly, one-size-fits-all registration process before embarking on their transaction was an unacceptable hurdle.
So, I proposed a new flow based on these key principles:
- Quick start: Allow the user to start their trade process before requiring registration.
- Super-simple sign-up: Create a very basic account to enable login, communication and support.
- Proportionate effort: Minimise the initial form for each individual’s requirements etc.
- Incremental registration: Ask for additional information in subsequent transactions.
- Just-in-time verification: Only execute verification checks when the user actually trades a substantial amount.
- Automated processing: Automatic decision making with instant results, so manual processing does not delay the transfer.
- Maintain momentum: Carry the transaction smoothly from acquisition to completion in a single seamless flow.
I produced process flows and mobile-first UX prototypes for the new approach, using Sketch and InVision, and worked with the development team to sketch out the technical architecture required to support it.
The New Xe Currency App
To implement the new app, multiple teams worked on specific aspects of the functionality in parallel.
I took UX responsibility for:
- Login, security credentials and multi-factor authentication.
- Registration and compliance.
- ID verification using Onfido.
- Transaction-specific due diligence.
- Account and profile maintenance.
- Review of all the designs for the transactional flow.
I created detailed specifications in Figma, including interactive prototypes of key features. Throughout the agile implementation and testing, I worked with the product and deveopment teams in Jira.
The Results
92% increase in conversion rate to first trade
200% increase in trades completed same-day
