Wire Transfers
Year
2022
Platform
Web, Mobile
Role
Product Designer
Overview
Introduction
For users of the Gemini exchange, wire transfers provide a secure way to move funds between their bank account and their cryptocurrency account. It helps users easily deposit funds into their account and start trading cryptocurrencies, or withdraw their funds to their bank account.
Challenge
Users were uncertain why a deposit is required to verify bank accounts for wire transfers, which cause them to have uncertainty with security and trust. They also struggle with successfully completing a wire transfer.
How might we improve the user experience by providing clear information on bank account verification, potential delays or returns, and deposit instructions?
Solution
In response to customer feedback gathered by our financial support team, we have made changes to our user flow. Wire transfers are now available as a payment method option, which provides users with more detailed information upfront regarding the bank account verification deposit.
Our team discovered that users were having difficulty finding the correct deposit instructions for filling out a wire transfer form with their bank. Additionally, reasons for wire transfer returns or delays were not clearly explained. To address these issues, we redesigned the payment flow to emphasize these reasons and made it easier for users to access the correct details for filling out their forms.
Research
Affinity Mapping
Finding participants for user interviews posed a research challenge. To overcome the challenge, I teamed up with the finance operations team to gather wire transfer support tickets from the past month. I hosted an affinity mapping workshop with the product manager, and members of the financial operations team to group feedback and identify the root problems.
Key Problems
Users were unclear when their bank accounts be verified or when a wire transfer is completed.
Users were missing important information on why a wire transfer could be delayed or returned.
Users had difficulties finding information for submitting a wire transfer with their bank.
Users didn’t understand why a deposit is required to verify their bank account.
Ideation
We conducted a brainstorming session to generate possible solutions for improving the process of adding wire transfers as a payment method. I worked on creating wireframes, hi-fidelity mocks, and user flows to share with engineers and teams for feedback on technical feasibility, as well as to identify any edge cases or concerns that need to be accounted for.
Solution
We streamlined the process for adding wire transfers as a payment method and updated the design for the deposit instructions.
Adding Payment Method
Before
Users were experiencing difficulty in discovering how to add wire transfer bank accounts as it was not displayed during the selection step. Furthermore, users were uncertain as to why a deposit was being requested after submitting their details, as no explanation had been given.
After
Updated the experience by adding wire transfers as a payment method option. Additionally, users can now select the currency to display the correct deposit instructions later in the experience. After users submit their details, we provide messaging for verifying their bank account.
Deposit Instructions
Before
The instructions were inconsistently designed across web, mobile, and email platforms. Certain designs were challenging to read, while others failed to include essential information about the reasons why a wire transfer could be returned or delayed.
After
Updated the deposit instructions to ensure consistency across web, mobile, and email platforms. Grouped relevant information together to improve readability and repositioned important information higher in the hierarchy for clarity. Additionally, I have included all details regarding potential reasons why a wire transfer could be returned or delayed.
