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App onboarding
App onboarding
Optimising a personal finance management experience
Optimising a personal finance management experience
Bud is a platform used by global banks to harness the power of open banking and to make life better for their customers. Their initial product offering included a personal finance app designed to improve people's financial wellbeing. This also served as an internal tool to test and develop new technology for Bud's customers.
Bud is a platform used by global banks to harness the power of open banking and to make life better for their customers. Their initial product offering included a personal finance app designed to improve people's financial wellbeing. This also served as an internal tool to test and develop new technology for Bud's customers.
Overview
Overview
One of my first opportunities when joining Bud was to rethink the onboarding experience for the Bud app. We'd observed significant drop-offs in the sign up funnel and believed there was considerate room for improvement. We aimed to create a more seamless experience that could drive user activation and retention. As a team our quarterly objective was simple: Redesign the onboarding experience to increase the conversation rate to 50%.
One of my first opportunities when joining Bud was to rethink the onboarding experience for the Bud app. We'd observed significant drop-offs in the sign up funnel and believed there was considerate room for improvement. We aimed to create a more seamless experience that could drive user activation and retention. As a team our quarterly objective was simple: Redesign the onboarding experience to increase the conversation rate to 50%.
The existing onboarding flow only had a 29% conversion rate from opening the app to completing the sign up process
The existing onboarding flow only had a 29% conversion rate from opening the app to completing the sign up process
As a team we ran a workshop to evaluate the experience screen by screen
As a team we ran a workshop to evaluate the experience screen by screen
We assessed the initial flow, identifying screens we could remove to optimise the experience
We assessed the initial flow, identifying screens we could remove to optimise the experience
The updated onboarding flow removed 50% of the screens from the initial journey
The updated onboarding flow removed 50% of the screens from the initial journey
We recruited and tested a prototype of the new flow with 10 participants
We recruited and tested a prototype of the new flow with 10 participants
A selection of screens from the final flow with a refreshed UI
A selection of screens from the final flow with a refreshed UI
Outcome
Outcome
We launched our new onboarding flow half way through the quarter to give us enough time to track and measure performance and conversion. In the subsequent weeks we saw a steady improvement in the onboarding funnel. Our final analysis illustrated that we'd improved the flow by 25%, leading to a 54% conversation rate, four percent above our target. naturally this led to other metrics improving, most importantly our account connection flow which increased by 12% overall.
We launched our new onboarding flow half way through the quarter to give us enough time to track and measure performance and conversion. In the subsequent weeks we saw a steady improvement in the onboarding funnel. Our final analysis illustrated that we'd improved the flow by 25%, leading to a 54% conversation rate, four percent above our target. naturally this led to other metrics improving, most importantly our account connection flow which increased by 12% overall.