Fintech Consumer Permissions

Role: Visual / UI / UX

Visual Designer UI Designer UX Designer

Our client has a verification of income and assets API that many large financial companies are interested in. To help them create a succesful account aggregation process, we evaluated, designed, and tested findings to improve their flow and conversion rate.

Identified Problems + Goals

    P: Verifying income & assets often takes time & money

    G: Increase efficiency

    P: Paper forms increases risk of false documentation and inflated reporting

    G: Minimize risk

    P: Consumers expect quick and easy access to credit

    G: Account aggregation and personalized experiences

$126

average cost per day currently to close a mortgage loan

60%

of consumers are willing to securely share their login credentials to automatically pull their data

92%

of Millennials would make a banking choice based on digital services

(a) Client's Looped Flow
(b) Proposed Linear Flow

Competitor Research (selected examples)

Mint
AccountChek
Rocket Mortgage

User Research + Planning

Purchase Framework
Purchase Framework
Purchase Framework

User Interviews Round1

Storyboard
Storyboard
Low-Fidelity Discussion Storyboards
Research Stickies
Research Stickies
Data Synthesis

Security Message Animation Explorations

Concept 1
Concept 2

User Interviews Round2

Key Insight Findings


Themes and solutions from two rounds of user research and feedback

SECURITY

  • Consumers who do not want to provide their credentials are concerned about the security behind the process, viewing their bank credentials ‘as keys to the castle.’
  • Using a 3rd party as a way to ensure data is safe/secure.

VALUE PROPOSITION

  • Time savings are the biggest value to most.
  • Cost savings associated with prepping and sending documents, travel.
  • Fewer people handling my data.
  • Eco-friendly paperless system.

ACCESS & CONTROL

  • Understanding of how their credentials are used, who has access, and what can be seen.
  • ‘OK’ with aggregate data, uncomfortable with transactional level data.
  • Prefer temporary access. How long will their credentials be used? Expected their credentials to be deleted when the loan application was completed.

SETTING EXPECTATIONS

  • Communicate how the process works at the beginning and make it clear where in the process they are.
  • Remove hesitations about security by describing it in language that’s short, simple, and easily understandable.
  • Provide confirmations and what to expect next.

BRAND MATTERS

  • Recognizable brand and brand continuity.
  • Bigger brand name can promote trust, security, and accountability.
  • Untrusting of small ‘mom & pop’ shops.

CONTACT ACCESS

  • Live help access would decrease users dropping off during the process due to uncertainties.
  • Easily accessible FAQ’s for those who prefer to help themselves or don’t need the unique assistance a live contact would provide.

Proposed Multiple Account Selector UI Animation

Multiple Account Selector UI

Clickable Prototype Link

Prior Proj
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