Rebranding the website and mobile application for a global African Neo bank.
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Kyshi is a global Neo banks for Africans, providing accessible financial services across multiple currencies, countries, and continents.
(Details)
Acquisition in progress
Client
Kyshi Limited
Location
London - United Kingdom
Category
Neo Banking, Fintech
Year
2022
Deliverables
Activation, Onboarding, Acquisition, App Revamp
On the 1st of July 2023, a revised onboarding flow was introduced which revolutionised users engagement and satisfaction, leading to a remarkable change in the increase of wallet activation, skyrocketing from a modest 6% to an impressive 87%. As a result, s a result of this changes we experienced 6X increase in app downloads, he increase in app downloads, particularly in major markets like Canada and the US, along with a 10X surge in user transactions and activities.
To put it into perspective, out of every 700 users who download the app, an astounding 665 complete the registration process and seamlessly onboard as clients. This transformation perfectly aligns with Kyshi's mission to eliminate barriers and provide everyone with access to quality financial services.
This success story shapes our commitment to innovation and customer-centric solutions, paving the way for an inclusive financial future for all.
BACK STORY
Due to non-disclosure policies, I have omitted and obfuscated company confidential information in this case study.
The Kysh context
In 2020, the cost of remittances in sub-Saharan Africa was an average of 8% in the fourth quarter. Yearly, these countries receives over $40 billion internationally with Nigeria, Ghana and Kenya ranking as the top 3 remittance recipients.
Kyshi is the Neobank for Africans globally, democratizing access to financial services across multiple currencies, countries and continents.
This is the first Neobank to create an interconnected ecosystem with affordable products and services to African immigrants.
Africans continues to face the most challenges when sending money to Sub-Saharan Africa. 2021 Reports from the World Bank shows that we lost approximately $5 billion sending money either to or from Africa through the traditional banks and money transfer companies.
01
Our ambition is to empower Africans globally by creating unlimited financial access, wealth and influence home and abroad.
02
We aim to drive financial prosperity at very competitive rates to Africans, especially given our current realities.
03
Our goal is to build a sustainable and community-driven Neobank for the present and future.
CHALLENGE
When Kyshi launched the MVP version, there were critical problems that remained unresolved despite many iterations.
We were losing 90% of our acquired users during sign-up, and the number of inactive wallets steadily increased within eight months of launch. This occurred despite significant marketing investments to acquire new users. It was brutal—our aggressive marketing efforts fell flat. As a result, we had to halt growth spending and focus on addressing the core issues.
01
Onboarding - Kyshi mobile application has a high drop off at a particular point in the onboarding process. However, there were high number of users that had inactive wallets.
02
Inconsistent UI - The user interface also needs to be optimised due to the inconsistent use of component, font, visual pattern and layout.
03
New features - To also achieve the goal of creating a interconnected ecosystem, new features was needed to be introduced.
Then I was hired as the Lead Product Designer, tasked with solving the existing challenges that had yet to be addressed. Below is the onboarding screens of V2
MY ROLE
Taking ownership of the product, as well as conducting end-to-end research and redesigning the onboarding flow were my responsibility. Tweaks to the logo design, created a brand guideline with custom illustrations, and developed a design system to address the inconsistent UI. Additionally, I synchronized with the marketing and growth teams to ensure consistent visual representation across all communication platforms.
WHAT I DID
Brand Audit
Stakeholder Interviews
UX Research
Competitive Landscape
Design System
Mobile app Design
Leadership Workshops
Website Design
IN COLLABORATION WITH
Grace Samuel - Head of Product
Gbolahan Oduyemi - Mobile Engineer
Raphael Ajilore - Backend Engineer
Azeez Akinwunmi - Backend Engineer
David Samuel - Mobile Engineer
Mustafa Idris - Data Analyst
Leadership Workshops
Website Design
APPROACH
After critical analysis of the problem, the Head of product and myself came up with the goals and success metrics for the project as we were able to create these following KPI.
Onboarding (Optimising the process)
01
02
Downloads (App Store & Play Store)
01
02
Features (Increase volume of transaction)
01
02
SOLUTION
Having a better understanding of the problem, with the goals and success metrics, it was easier to dive into the design solution using an inclusive design methodology.
This project was a 2 - Months Design Sprint that required a rapid creative process to streamline the experience as quickly as possible.
It’s important to realize that the final creative is just part of the work. The other half is celebrating the work that has been done behind the scenes.
- 1 Week
Validation
Here we needed to validate the problem through research to get quantitative and qualitative data and then analyse the data to point us to the right direction.
- 1 Week
Data Analysis
We took data analysed it, with the data we create, empathy, scenario & user journey map, problem & vision statement, also a contextual scenario.
- 1 Week
UX Design
The design requirements were easier to create, the user flow, and information architecture which informed the changes and modifications
- 3 Weeks
UI & Interaction
With solid basis of UX findings, I started sketching screens for the app, created a design system and the screens with the brand designer
- 2 Weeks
Testing
For the onboarding and the home page we had to do A/B testing to have an informed decision about the final structure and layout of the screens
RESEARCH
As the Lead Product Designer, I spearheaded the research effort. We analyzed our database to identify users who downloaded the app but didn't complete their KYC, as well as users with dormant wallets. We randomly contacted 50 individuals from each category, aiming to get at least 20 responses from each group. We provided survey questions and invited them for 1-on-1 interviews to gather firsthand information and live feedback on the current app experience.
30 users responded
18 users for 1-1 interview
From our survey, we received 30 responses. Of those, 18 participants agreed to have a one-on-one interview, and we rewarded them for their time.
We discovered from the research that apart from knowing our target audience are the Gen X followed by the millennials and some of the Gen Z both in diaspora and home here in Africa. We can put them into 3 categorise.
01
The Busy Bees - These are set of users that are always on the go, busy and juggles a lot of things.
02
The Chill and Calm - The ones that are more relaxed in doing things regardless of work load on their plate
03
The Smart Planners - The ones that are the organised planners, they strategically do things regardless of the work load on their plate
When downloading a peer to peer mobile application, how it looks like (UI) and ratings matters to users and particularly the popularity of the product, because they are mostly scared of their money hanging or not going through in between transactions. Also, the first and third groups of individuals make up a large number of the market the users that uses fintech applications.
They have quite a lot to do, some schooling and working with a lot of shifts, having to sit down with application with bad UX or stressful onboarding won’t work for them.
Categories of users according to their preferences and priorities in groups
The Busy Bees
The Chill and Calm
The Smart Planners
80.1%
20.8%
60.9%
Research Questions
Some of the questions asked that gave us most of our quantitative data are listed as follow
Q1
What is their preferred FX and banking application?
Q2
What was your first impression when using the onboarding process?
Q3
Did you encounter any obstacles that prevented you from completing the onboarding process?
Q4
How much time did it take you to complete the entire onboarding process?
Q5
Did you feel that the onboarding required more effort than you anticipated?
Q6
What are your overall thoughts and feelings about the updated user interface?
Q7
Were there any aspects of the onboarding that confused or frustrated you?
Major prototype test question
How would you compare the new design to the previous one in terms of visual appeal and usability?
Steps that users find challenging during on onboarding
10 % Personal Details
20% Verifications
70% Activate Wallet
Time did it take you to complete the entire onboarding process
7% 1 - 3 minute
85% 4 - 5 minutes
8% 6 - 10 minutes
Awareness and uses of customer support during onboarding
13 of the 30 respondents
make use of customer support when there is challenges during onboarding
Navigation & adaptivity to achieve first & subsequent transactions
21 of the 30 respondents
makes finds current flow to complete transaction and to do other activities in the app
PERSONA
"I am afraid my money will get stuck or transactions will fail, especially after the bad experiences I had during onboarding."
Base on the research, we were able to get our quantitative and qualitative data which informed our decision, I created an empathy map, 2 personas, customer journey map with help of the 1 - 1 interview and with that I also created behavioural attribute.
I also created a content scenario, to have point of view of the user when they make use of the mobile application
During the 1 - 1 interviews, I gained a clearer understanding of where the drop-offs occurred and the challenges users faced during onboarding. This insight helped create a customer journey map to identify opportunities and propose modifications.
There was an issue with how the country of residence and nationality were being collected, along with the follow-up phone number requested for verification. Users often encountered difficulties during this process, leading to potential delays and errors in verification. Ensuring accurate collection and verification of these details is essential for a seamless onboarding experience and maintaining the integrity of our system.
To create or activate your GBP wallet, users are required to provide their residential address along with other necessary details. However, users often face issues because they either don't input the correct address or don't format it properly, making it difficult for the system to verify the information easily. This step is crucial for ensuring a smooth and secure onboarding process.
Persona A
Balancing Jame's needs with the product goals
25 years ∗ He/Him ∗ Single
James is a photographer that relocated to Newcastle, United Kingdom. James relocated on student visa, to study Films and Media. To complete his school fee he had to work double shifts, knowing that he has to send money to his sister also. When he earn his wages weekly he has to send money to his sister to pay her university school fee to complete her undergraduate in Nigeria.
Goals
James needs an FX mobile application to send money to his sister and friends easily, with minimal exchange rates.
Frustrations
Doing double shifts to support himself and his sister, James is worried about potential scams when sending money.
James is unsure which mobile application to use for sending money back home.
James has tried other applications but encountered issues with onboarding, bugs, glitches, and delays in transactions.
Quotes
I love sending money back home and having it delivered in no time.
Sending money back home with lower processing fees and favorable exchange rates is crucial for James.
Onboarding can be stressful, but I believe it can be improved, as there are applications with seamless onboarding processes.
Empathy Map for Persona A (James)
Persona B
Balancing Nanakofi's needs with the product goals
45 years ∗ She/Her ∗ Married
Nanakofi is a data analyst residing in Manchester, United Kingdom. She is married with two children and has four siblings, along with her mother, living in Ghana. Every month, Nanakofi sends money home manually because services like Wise and other applications are selective about African countries.
Goals
Nanakofi needs efficient and reliable platform to send money home regardless of the rate, she is keen on getting the money across in a short time with no assle.
Frustrations
She is a busy career woman, making manual money transfers challenging.
She has tried several mobile apps, but they are inconsistent and unreliable.
She is wary of the information requested by most platforms, often leading her to abandon the onboarding process.
Quotes
I believe sending money home should be seamless
Asking me for sensitive information just to send money home should be defined
Can an African fintech app have lesser bugs and be easy to use
Empathy Map for Persona B
PRODUCT GOALS
I collaborated with the Head of Product to develop the problem and vision statements, along with the contextual scenarios. This process allowed me to create design requirements that led to clear product goals. I restructured the user flow and information architecture to guide the necessary changes and modifications. It was crucial to get a clear picture of the end product and outline its core experiences.
For an FX and peer-to-peer mobile application, the best user experience involves seamless onboarding and effortless money transfers. A well-designed product will onboard users smoothly and encourage them to send money without concerns about slow or incomplete transactions.
Goals
Seamless Onboarding
Onboarding Simplified
The onboarding issue was resolved by breaking down the process into four stages: selecting your country, residence, and nationality separately. This allows filtering of countries where the wallet is unavailable and helps determine the appropriate KYC requirements.
Easy
Payment
Seamless Payment
We structured the transfer method to be more intuitive, making it easy to understand how to use "Swap" and "Express" for sending money. Users can also grasp the rate and why it's being charged, along with the estimated duration of the transaction.
Adaptive Secured Wallet
Wallet Experience for Global Expansion
Due to the product's expansion from Nigeria and the United Kingdom to Canada and the United States of America, enhancing the wallet's intuitiveness became crucial. I improved it to be more adaptive, offering multiple wallet options if users provide KYC. Each wallet now includes transaction history, and there's a general history for all transactions as well.
Wireframing the new hompage, marketpalce and Kyshi connect main Ideas
I began the design process by crafting the overall user experience from a holistic perspective. Through sketching and storyboarding, I explored numerous concepts for organizing UI elements, functional features, data integration, and interactive behaviors. Starting with broad concepts, I refined and evolved the vision into a more detailed framework. This involved creating a high-level design language and structuring the interactions and layout of the app meticulously.
Transfer Money V1: Existing Version
Initial Method: Users could only send money using the 'Swap' method.
Issue Identified: Users had to wait for others to accept their offers, which could take days.
Transfer Money V2: Adding Express Transfer Method
First Iteration: Introduced a modal action to present transfer options, including the new 'Express' method.
User Testing: Mixed feedback; some users found it intuitive, while others overlooked the options and were confused about the differences between 'Express' and 'Swap'.
Transfer Money V3: Modifying the Transfer Widget
Changes Made:
Made the home screen dynamic, allowing users to slide the transfer widget to interact with the wallet behind.
Made the transfer rate editable, defaulting to the 'Express' rate if unchanged.
User Testing: Feedback indicated users were unaware the rate was editable.
Next Steps: Plan to implement an onboarding video to inform users about the editable rate and other features after signup or app updates.
With the feedback from both users and stakeholders, you're gearing up for Kyshi 3.0, which will incorporate all these improvements for a more user-friendly experience. This iterative approach ensures that each version addresses previous pain points, making the feature more intuitive and efficient.
Finally Kyshi 3.0
The new era!
After thorough testing with the user that agreed for 1 - 1 interview during our research to determine the cause of the drop offs, we are confident that we have a product that meets strong user demand. We recently launched the updated version with optimized onboarding, successfully addressing previous drop-off issues.
Within 7 days of the launch, completion of sign-ups and active wallets increased from 6% to 90.1%. Additionally, support tickets related to onboarding for new customers decreased significantly. We observed a 30% rise in monthly activation rates, directly linked to the streamlined onboarding process.
Following this success, we initiated a beta version featuring new homepage variations using A/B testing to gather user reactions and feedback. Key features of the new version include:
Here's a structured overview of the updates:
Screen 1
Splash Screen: Featuring the modified logo.
Screen 2
Feature Overview: Providing clear information on available application features.
Screen 3
Introduction Channel: Clarifying where users learn about Kyshi before signing up.
Screen 4
Nationality and Residence Selection: Simplified user interface based on research insights, focusing on nationality and country of residence selection with clear labels.
Screen 5
Default Country Code: Setting the country of residence as the default for phone number verification, with an option to switch to nationality country dial codes.
Screen 6
Security Enhancements: Introducing passcodes for access and OTP for added security layers.
Screen 7
Address Accuracy: Integration of Google plugin to suggest precise residential addresses, addressing issues with incorrect personal details.
Screen 8
Information Transparency: Implementing tooltips to explain why sensitive information is requested.
Screen 9
Verification Options: Providing a third-party verification funnel within the application if initial verification fails, launching a browser.
Screen 10
Onboarding Support: Replacing V2's tour with a video tutorial for new users navigating the application.
Enhanced Sending Options: 'Swap' and 'Express'
We offer two sending options: 'Swap' and 'Express'.
Swap
Users create a proposed offer rate.
The offer is placed on the 'Marketplace' for other users to view.
If another user accepts the offer, the exchange is completed.
Express
Users send money using the 'Kyshi Rate' for the day.
The send widget on the home screen is designed to be intuitive. When users enter their preferred rate, the widget uses an algorithm to show the estimated acceptance time based on average marketplace activity: a case scenario below
Kyshi green (Rates: #100 - #299): Indicates it takes 10-39 minutes on average for offers within this range to be accepted.
Orange (Rates: #300 - #499): Indicates it takes 40-79 minutes on average for offers within this range to be accepted.
Red (Rates: #500 and above): Indicates it takes 80 minutes or more on average for offers within this range to be accepted.
This color-coding helps users make informed decisions about choosing the right rate when creating an offer on the 'Marketplace'. If the user-entered rate matches the 'Kyshi Rate' for the day, the system automatically selects the 'Express' transfer option.
These updates aim to enhance usability, security, and transparency based on user feedback and research insights.
RESULTS
