Lifting signup & cutting onboarding costs
+5%
Increase in registration rate
-9%
Reduction in customer identification costs
Beem It (Australia's Venmo, a regulated digital wallet enabling instant payments between members, 4.9★ app store rating) needed to maximize marketing ROI by optimizing registration rates and onboarding costs to lower customer acquisition costs.
Core team members: 1 senior designer (reporting to me), 3 engineers, CTO, COO & myself
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Framed project scope & metrics
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Oversaw customer research
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Oversaw & led UX changes to address drop-offs
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Oversaw usability testing and A/B testing of changes
Merging signup steps to reduce email & mobile verification churn
Funnel analysis & user testing helped pinpointing the root cause
Funnel analysis unsurprisingly surfaced that users were churning during email and mobile verification. User testing evidenced the why: amongst others, email latency was proving a stumbling block.
Merging capture into a single screen to minimise back & forth
We merged email, mobile, and username capture into one screen to better manage latency without a complete overhaul of the back-end.
+5% overall lift in signup rates
Whilst the change increased churn on the first screen, A/B testing confirmed the overalll churn decreased.
Postponing KYC to only when it's required
ID verification was triggered indiscriminately
With the feature expansion of the digital wallet, ID verification wasn't required to use some new features, nor to just have a feel for the app.
Lower cost, same compliance
Deferring verification cut identification costs by 9% without compromising regulatory compliance.