FINTECH
ILLUSTRATIONS
MOBILE APP
2023
My Role
Product Designer | Project Lead- Mobile App Design, Web app design, wireframing, User research, User interviews, User persona, Prototyping, User Journey, Userflow, User testing
Team
Olayiwola Damilola
Ayomide Olukoga
3 months
Overview
The Renmoney app is a one-stop shop super app that makes finance simpler and easier for its customers. The app has been designed to cater to all user needs, ranging from spending, to savings , and to credit loans. There is a mobile and Web app that has been designed to fit the need of its diverse user base and to get them the best access to financial services .
Problem Encountered
The previous app found it hard to convert younger users, and also found it difficult to retain the older generation. During user interviews the words 'unexciting', 'Unengaging' and 'boring' came up a lot. This generally affected the ability of users to better interact with the product as they found it unintuitive. Other UX issues experienced on the app that made it hard to achieve business goals include:
Poor Onboarding Experience
Inadequate Navigation
Unintuitive Information Architecture
Security Concerns
The web platform exhibited severe performance issues, including a
· 10% user retention rate,
· A 40% decrease in successful loan applications,
· A 40% failure rate in onboarding attempts,
· A 50% decline in user participation in savings, a
· 2% rise in unique user onboarding, and
· A consistent 10% drop in banking services transactions (such as sending money and paying bills).
Solution
After conducting thorough Competitive market research and recognizing the necessity for a comprehensive brand transformation, we concluded that merging both the discoveries and the overhaul would strategically reposition the app/company, giving it a rejuvenated appeal to a younger user demographic. This way to the Older generation, we are being agile and showing a little bit more vibrancy and to the younger generation; we are ready to have them on and bank them. The User Experience was revised and shortened to be more efficient and faster; across flows like, Onboarding, Send money, account tiering, pay bills and so on. Our fresh design approach aimed to introduce excitement, modernity, and intuitiveness into the app's user experience. The navigation system was revamped to enhance accessibility to all financial services within the app, while dashboards were meticulously crafted to succinctly present critical information on each page. The result of these efforts is a significantly improved app, now operating with double the efficiency.
Success metrics
5x
Speed of user
onboarding
25%
Increase in user
acquisition
15%
Reduction in user
error rates
25%
Decrease in support
ticket volume
50%
Increase in savings
product adoption
4x
70%
4.1 ⭐️
