PROJECTS

Designing Investor Onboarding

A case study on the accredited investor onboarding experience for the US.
Background
In the beginning of 2019, Funding Circle had an initiative to get as many investors in the marketplace as possible. It was low-risk, high return project that we attempted to launch as quickly as possible.
Highlights
  • 5 Months (Nov 2018 - Mar 2019)
  • Research, Wireframing, Prototyping, Usability Testing, Interaction Design
  • Responsive Web
Investor Onboarding Preview
Overview

Problem

Increase the number of accredited investors on the platform by redesigning the onboarding flow. The redesign needed to be responsive, enable our internal Account Management team, and be compliant with Legal and Risk requirements.

Solution

A responsive card design that allowed users to create an account, submit a profile for review, save and continue, and provide educational material. This also included designing a new document uploader.

Result

We brought in over 30 investors on platform, bringing in roughly $500k or new investment. We also streamlined the process for our Account Management team, cutting time requirements nearly in half, and implemented better analytics and tracking.
Original Design
Original Design
New Design
New Design
Define Interstitial
Discover

Understanding the problem

Research was a team effort. The strategy team contracted an  agency to conduct market research. The marketing team provided us a persona. We were all able to listen in on interviews with a few of our current Investors to ask them about goals and pain points.  I also conducted a competitor audit, making a map of best practices.

Persona

Investor Persona
Personas created by marketing team

Problem Statement

"How might we make it as easy as possible for an investor to create an account and submit a profile?"
Problem statement the Product Manager and I developed
Develop interstitial
Define

Mapping out the ideal user experience

I worked closely with the Product Manager and the Engineering lead to define the product goals, map out flows, and start generating wireframes. The Product Manager worked with Legal and Compliance to get the list of questions we were required to ask as small as possible.

User Flow

Investor Flow
A map of the the best user experience to solve the problem statement

Wireframes

Investor Wireframes
I started mobile first and explored what happy and sad paths could look like
Deliver Interstitial
Develop

Testing ideas and iterating

I conducted 5 internal usability tests with colleagues that aligned with our persona and I presented this feedback to product and strategy. I also made recommendations on how to solve any usability issues that arose.

Usability Testing

Test Results
Usability testing revealed a lot of gaps between the design and user needs

Solutions

Highlight a path to completion but keep the experience flexible
I used progressive disclosure throughout the process to reveal the next step. Users could still skip over steps and return to that section at any time.
Solution 1
Example of completing one card and having the next card appear
Use feedback to guide users
I made sure that validations and error meanings were obvious. I also used animation to communicate progress, to highlight errors, and to guide the user to the next task.
Solution 2
Example of validation used to confirm an incomplete input (doc uploader) and animation to highlight an incomplete card (Verify Accreditation card)
Use informative helper text to guide the user to success
Investors care about transparency but also care about time. I used tooltips, helper text, and kept the experience as forgivable as possible to keep the user feeling empowered throughout the flow.
Solution 3
Example of letting users explore various accreditation methods
Deliver Interstitial
Deliver

Mockups and handoff

After the changes were signed off, I presented my designs and animations to the larger team. Everyone was really excited about the new tool, and I eventually presented the new feature to the global product team .

Final Design

Fill out a real-live here, or click around a prototype here!

Results

  • Over 30 new investors post launch (up from 4 the previous year)
  • Roughly $500k of new investment in the marketplace
  • 50% Reduction in Account Manager follow-up time
Still finalizing numbers

Kudos

"The application helped reduced the number of questions people had about if they qualified as an accredited investor and made for easier contestations on the phone, which again saved time as well as helped weed out non qualified investors earlier on in the application.

The overall style and look also helped to build reputation and brand!"
- Maya
Lessons

Bigger is not always better

This was a challenging project that incorporated the expertise of a lot of different teams. I really enjoyed the opportunity to be on a small project with a cross-functional group!

Questions? Reach out!

Contact

Projects

This portfolio was set using Tiempos, designed by the badass NZ-based Type Foundry, Klim.
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