Onboarding Improvement in Cryptocurrency Mobile App

The KYC process is often a critical stage where users experience friction, leading to high abandonment rates and dissatisfaction. This case study aims to identify pain points, streamline the KYC flow, and provide actionable solutions that enhance user satisfaction and efficiency while ensuring compliance with regulatory requirements.

Overview

The main goal is to reduce friction in the KYC process by improving usability, task completion rates, and verification times. The project also aims to enhance the user experience on both mobile and desktop platforms by providing real-time feedback during document uploads and minimizing times in verification.

Client
NDA
Time
4 months
Core Team
2 Product Designers + Dev Team
Tools
Figma, UserTesting.com

User Results

Details on the impact of the enhancements or changes on end-users.

17%

Increase

in overall task completion rate

10%

Reduction

in time-on-task

13 pts

Increase

in SUS score

Problem Statement

The current KYC process in the fintech app has several friction points. Users have reported issues with document upload, slow verification times, and unclear instructions, resulting in high abandonment rates during onboarding. The goal of this project is to streamline the KYC process to reduce friction, improve completion rates, and enhance the user experience.

Challenges:

  • Verification/Registration takes too long, causing frustration.
  • Users face difficulties uploading the correct documents.
  • Instructions are unclear or overwhelming.

UX Audit

The audit focused on identifying pain points in the existing onboarding process. The main finding is that the user was impeded in their use of the app by the need to complete the KYC process first and foremost, before anything else.

Current Flow:

  1. User inputs personal information.
  2. User uploads documents (passport/ID).
  3. Documents are verified (takes 2-3 days).
  4. User receives confirmation via email.

Pain Points:

  • Document rejection rates are high due to incorrect uploads
  • No real-time feedback for incorrect file types or blurry images
  • Users abandon the process due to high number of steps to complete

Audit Results:

  • high drop-out rate of user after registering due to the need to complete a lengthy KYC process
  • Average completion time: 18 minutes, plus 2-3 days for verification.

Competitive Benchmarking

We resorted to doing a study on competitive benchmarking in the industry with both direct and indirect competitors, as a way to guide our efforts in the making of the new user flow.

Findings:

  • Best Performers in Real-Time Feedback: Platforms like Binance, Revolut, and Monzo provide effective real-time feedback on document quality, minimizing the likelihood of users uploading incorrect or blurry documents.
  • Fastest Verification Times: Platforms like Cash App, Monzo, and Square excel with near-instant to 1-day verification times, making them more user-friendly and efficient in onboarding.
  • SUS Scores: Neobanks and wallets generally have higher SUS scores, reflecting smoother mobile-first experiences, with Cash App and Monzo leading in mobile usability.

Usability Testing + SUS (Before Redesign)

Test Setup:

  • Top Tasks:
    1. Upload a valid ID document.
    2. Complete the identity verification process.
  • Metrics Collected:
    • Task success rate.
    • Time on task.
    • Number of errors (e.g., failed document uploads).

Findings:

  • 40% of users uploaded the wrong document format.
  • Average time to complete onboarding: 18 minutes.
  • SUS Score: 65/100

Explorations for the Redesign

Here are the explorations for potential solutions:

Concept: Guided KYC Process and new user flow

  • Only required a single step for account activation, providing the user with the opportunity to learn about and test the app before making any investments
  • When the user was ready to invest, it was only then that we required them to complete the KYC process.
  • Step-by-step walkthroughs for users, with each stage clearly defined.
  • Progress indicators to show users where they are in the process.
  • Automatic checks for image quality, file type, and document validity.
  • Error messages that prompt users to correct mistakes before submission.

Prototyping

Prototype Features:

  • Redesigned KYC flow with real-time validation for document uploads.
  • Progress bar indicating how far users are in the process.
  • Simplified instructions using plain language.

Usability Testing + SUS (After Redesign)

Test Setup:

  • Same top tasks as before, focusing on document upload and identity verification.

Key Metrics:

  • Task success rate.
  • Time on task.
  • Errors related to document uploads.

Results (Post-Redesign):

  • 85% of users successfully uploaded the correct documents on the first try.
  • Average onboarding time decreased
  • SUS Score: 78/100 (significantly improved usability)

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