Credit Card Sales Funnel – Feasibility Study

Year: 2016
Client: St.George Bank
My Role: UX Consultant

THE CHALLENGE

St.George and Westpac online credit cards application were underperforming in converting applications into active new accounts.  It was estimated 550k customers start an application yet do not complete, demonstrating a big opportunity to maximise conversion rates within the sales funnel process.

The business requirements driving this 3 months feasibility study were:
  • simplified credit decisions
  • provide online banking access for customers prior to an account being approved
  • new card services within online banking
  • targeted messaging to customers, and
  • instant account creation

THE APPROACH

I worked very closely with the assigned core team of Product Owner, Scrum Master and three BAs.
Among the activities that I planned, led and executed were:
  • Defining the Opportunity and Scope
  • The set up and maintenance of the Design Wall – a great tool to engage stakeholders and display the user journey
  • Prototyping – using Axure, and
  • User Testing – engaging one of Westpac’s preferred research partners

stg-project-opportunity.jpg
Project Objectives (opportunity)
stg-scope.jpg
Define Scope
STG Design Wall
The movable Design Wall
STG User Testing
User Testing

THE OUTCOME

An improved online credit card application flow that was shorter and easier to complete. The application provided early feedback on credit limits to applicants so they felt we were not wasting their time, and allowed them to explore products with limited features from within Online banking. This was achieved with the instant account creation.

In addition, we included a digital card concept which would was immediately available to use on online purchases right at the end of the application, while the new customers waits for the card to arrive on the mail!

Axure Prototype:
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