Bank Wire Transfer
Capital One Bank
Back in August of 2017, the wire transfer experience within bank was about the be decommissioned so I was tasked with redesigning it in the new design system, and figuring out why we had a 88% drop out rate mid experience. I ran some usability testing and upon analyzing and synthesizing the data, found that the wire transfer form has been just hard to understand due to its use of complicated vocabulary. I reached out to a content designer I knew within Capital One for some help coming up with legally accurate words to describe the input forms. Another issue was that the experience was just one full form so all the inputs in the form where shown when not all were needed. For example, when sending to a Title Company (this is for buying a house), one needs to add an address, but this isn't necessary in the occasion of sending to an external account. This confused our users because they didn't know what they had to fill and because overwhelmed trying to figure it out.
I studied to inputs deeply and designed a story with the experience that held the hand of our users through this complex form and explained confusing inputs to them. We also found a huge dropout rate right at the beginning of the form. We found that this was because people went into it thinking it was like a bank transfer. To solve this, I added an intro page that allowed the user to understand everything they need to know about wire transfers; what it is for, what to expect, and what not to expect. After presenting my research to my team, designing the UI with our design system team, and launching the project, we found that the experience for customers had improved dramatically. In the first 2 weeks of its relaunch, 263 wires were completed resulting in the movement of over $15 million customer funds. The top exit point in our funnel is now the success screen (wire transfer completed!) when previously the top exit point had been the landing page!
Feel free to click through our interactive prototype to experience Capital One Bank's Wire Transfers in responsive web.