Centric designs a modern, intuitive, simple user interface to provide a better and more seamless account opening process that reduced abandonment by more than 50 percent.
In order to stay competitive, Centric’s regional bank client wanted to improve the customer’s digital experience by redesigning their account opening processes across multiple channels to allow customers to start or expand their relationship when and how they chose.
A seamless customer experience for the end-to-end, digital account opening process was needed to increase conversions and decrease abandonment rates that were as high as 90%. Our client desired a truly multi-channel (web, mobile, tablet, branch, and call center) approach to how customers open new accounts for deposits, credit cards, and loans.
Project Goal – Friction-Free Customer Journey
The project team realized that a modern, intuitive, simple UI was essential to providing a customer journey that eliminated as much complexity and pain from the account opening process as possible. Interactive design activities necessary to ensure a beautiful UI included:
- Persona development
- Iterative development of wireframes and screens (desktop, tablet, mobile)
- Research to identify test groups
- Usability testing in lab environment
Project Results – Abandonment Rate Drops As The Digital Experience Improves
Customer feedback on the new account opening functionality has been very positive. Mobile account openings are now a significant percent of the totals. The application process is shorter and much faster, while continuing to meet all compliance requirements. Most importantly, account opening abandonment has decreased by more than 50% and continues to fall.