FINTECH | BANKING | CASE STUDY

Malauzai Money Transfer Feature

01. OVERVIEW

Phase two of Malauzai’s digital banking app redesign focused on streamlining and simplifying the workflows of the money transfer features on both web and mobile applications. With the growing success of the quick actions widget from phase one, customers requested the ability for a quick transfer feature. Our goal was to design an intuitive workflow that allowed us to solve for the reduction and combination of similar features, to increase the speed of making internal and external transfers for users. To speed up the design process, we developed a design system that allowed us to utilise existing UI elements from phase one for faster development and to maintain a cohesive UI across all features

MY ROLE

Research, usability testing, lo/hi-fidelity design

THE TEAM

2 designers, 1 product manager, 3 engineers

DURATION

2 months from conception to development

TOOLS

Adobe XD, Mural, Jira + Confluence, UserTesting

02. DISCOVERY

Competitor Research

The old version of Malauzai’s money transfer feature was seen as too limited by new users who often used other finance apps such as Venmo or Paypal to make external transfers. Through competitive analysis, we assessed the strengths and weaknesses of our competitor’s money transfer features to gain insight into what improvements we needed to make within our own app.

Key Findings:

🏦 Friendly Wording

Conversational way of walking users through a transfer flow. Welcoming users to the dashboard by using their names.

💰 Quick Transfer Actions

Widgets with users’ most-used transfer feature in one dashboard.

📲 View Recent Payees

A glance at a user’s most recent payees.

👫  Memos

Option for users to write a brief description of what they are transferring.

User Interviews

To understand our user's frustration and pain points with our money transfer features, we needed to see things from their perspective. We set up 30-minute interviews over Microsoft Teams with 6 users varying from large banks to smaller credit unions.

QUESTIONS

  • Which devices do you use to transfer money?

  • How often do you transfer money?

  • What apps do you use daily?

  • What are your biggest complaints about our money transfer features?

  • How does our interface compare to other finance apps you use?

User Personas

Based on the analysis from the competitor research and user interviews, we had enough data to create mini personas that focused on the habits and frustrations of transferring money. To sell the full persona from our phase one redesign.

03. DESIGN PROCESS

  • Most of our users transferred money between accounts at least once a week which made the need for quick actions to be the first widget they see in their money transfer dashboard. I sketched out a few variations that included other information users might find relevant within the dashboard view such as access to their most recent payees or latest payee activity. In the current app, these various options are in different places within the features and users had a hard time finding the options right away.

User Testing Round 1: Unmoderated A/B Testing

After sharing our ideas for the new money transfer dashboard, we decided to test three variations of the dashboard with users. I worked with another UX designer to create screener questions, task lists, and surveys. We conducted A/B testing with 10 users within the UserTesting platform. The main goal was to determine which dashboard layout was the most useful.

“I feel like I like C’s layout more but A was the easiest to follow by far.
Easy buttons, I like the quick access section, and the history tab was easy to get to.”

User Testing Round 2: Unmoderated A/B Testing

Based on the results from the first round of testing, we eliminated option B as it caused the most confusion for our users. Using feedback from round one, we created two more “hybrid” interfaces based on options A and B.

Changes Made:

  • We kept the "Quick Actions" card at the top because users found it useful

  • Version A kept the tabs, but we changed the verbiage of the first tab to "Quick Transfer"

  • Version B added 2 sections for "Quick Transfer" and "History" under the "Quick Actions" card

User Testing Round 3: Moderated Testing

During the final round of testing, myself and another designer created a testing script consisting of eight tasks. The tasks varied from starting the transfer in the dashboard to completing a transfer successfully.

Key Findings:

  • 100% of users knew exactly where to go to start a transfer

  • 100% of users said they understood the flow because of similar layouts that exist on banking apps today

  • 100% of users understood how frequency works and the types of frequencies

  • 100% of users enjoyed seeing a success screen

  • 80% of users liked seeing the greyed-out account when selecting a from account

  • 80% of users said the transfer flow was fast and user intuitive

  • 80% of users preferred having the memo to help them keep track of transfers

04. IMPROVEMENTS + FINAL DESIGNS

Based on the various feedback we gathered from our testing sessions, we continually iterated our designs until we landed on the final money transfer workflow.

    • Revised “Amount” label to “Enter Amount”

    • Added underline styling to the amount field

    • Changed the Quick Amount chips to $25 increments

    • Added a label to "Today"

    • Added option to change frequency within the calendar screen

    • Added processing time text

    • Added a confirmation number

05. OUTCOMES + NEXT STEPS

The final money transfer workflow gave users a new dashboard with all their most-used transfer needs without the need to tap to other places within the app. When we first started the redesign, we were not sure if having a single-view for money transferring would make sense to our users. That’s why we conducted three rounds of testing to validate our design decisions throughout each step.

Now that all designs for our money transfer feature have been completed, we are in the process of writing the final documentation before the developer handoff.