Phase 2 - User testing
Onboarding customers into the application involved collecting a significant amount of data. The primary struggle for stakeholders was to build trust among users and facilitate data provision with an easy and seamless user experience, reducing application time.
Another major issue was that end users belonging to certain geographic locations needed to complete a knowledge assessment quiz to ensure suitability. Currently, this quiz was located at the end of onboarding, resulting in wasted time and effort if the user failed to pass.
Research objectives
Understand how the position of the quiz affects customers perception of the length and complexity of the quiz
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Explore feedback about the onboarding process including clarity of information provided, ease of completion, order and grouping of questions
Research approach
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7 x remote 1 2 1 interviews
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An A/B test of the onboarding journey, where the order was rotated between participants ⎯
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​Version 1 reflecting the as is order of questions
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Version 2 placing the quiz at the start of the flow
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Participants provided feedback as they walked through each journey, and completed a short survey at the end of each version
Participant profile
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7 x remote interviews with experienced traders
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4 x EU-based participants including Italy, Greece, Spain and Netherlands
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3 x Australian participant
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All were interested in completing trades in the next 6 months
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All researched the financial market news at least weekly
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All had completed more than 5 trades in the last month
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All must currently be using a competitor service such as plus500, eToro, CMC, Coinbase, Trading212
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All must currently trade in CFDs and FX
Response Context
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Participants loyalty to a platform was linked to their familiarity, but the competitive market meant they were open to trying new platforms
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​All participants used more than 1 trading platform
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Sign-up processes are similar with competitors and were straightforward to complete
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​Most recalled a previous sign-up process for a platform they were currently on
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They recalled it being straightforward but onerous
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5/7 participants preferred having the quiz first
Because they wouldn’t waste time and effort providing personal details if they failed the quiz
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For some, the quiz felt like an eligibility checker, suggesting it should be at the start
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For 2 participants, the quiz at the start like a barrier to entry
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The preference suggests the quiz should be placed first
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​This can value the brand as customers assumed this would save them time, and inputting personal details
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However, the current Version 2 implementation could still be improved by improving copy and card order
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Feedback from APAC stakeholders suggests quiz first would be received negatively, so we may want to consider using Version 1 in certain regions and where there isn’t a requirements for a quiz
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Additional process feedback
Adding additional detail to the process screen will help setcustomers expectations
Research findings
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3 participants wanted additional detail in the process screen so they understood that the application part contained 4 sections: Personal details, Contact details, Financial details and Quiz
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Recommendation:
Clearly call out all four sections of the application part of the process
Most participants were unfamiliar with the additional platforms available and wanted to see more information
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There was a desire to be able to see more information about the platforms available, before deciding whether to opt into them
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It was also unclear if they would be able to opt in to these platforms at a later date
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Recommendation:
Make sure that the website has clearly labels and descriptions relating to each platform, otherwise we risk customers leaving the sign-up process to learn about them
Add additional copy to explain that they can sign up to the additional platforms later
Survey questions
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The time to complete the application was faster or slower than I expected1=Much slower, 5 = Much faster
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The number of questions in the application more or less than I expected1 = Many more questions, 5 = Fewer questions
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How clear or unclear were the reasons why you needed to provide the information?1 = Very unclear, 5 = Very clear
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How clear or unclear was the information provided?1 = Very unclear, 5 = Very clear
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How clear or unclear what step of the process you were on?1 = Very unclear, 5 = Very clear
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How clear or unclear was the next step?1 = Very unclear, 5 = Very clear
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Version 1 and 2 performed similarly in the survey, suggesting that the location of the quiz doesn’t make it feel significantly quicker
Phase 2 - Usability Testing
Customer insights report
Research objectives
Usability testing, to ensure the journey
can be completed successfully without
ambiguity.
Gain further feedback about the
onboarding process including clarity of
information provided, wording, ease of
completion and overall look.
Research approach
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13 x remote 1-2-1 interviews
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Four regions with separate tailored prototypes:
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⎯ EU: with quiz
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⎯ UK: without quiz
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⎯ AU: with quiz & additional questions
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⎯ SVG: without quiz
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Participants provided feedback as they walked through and attempted to complete the journey.
Participants were comfortable with their country of residence being pre-filled
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All but one of the participants were happy with their country of residence being pre-populated and understood this was through IP address.
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Comments were made about people who may use a VPN but all users felt it would be easy to change if needed.
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Recommendation:
To increase visibility, recommendations would be to move to the top of the page above the email (and password)
Adding additional detail to the
progress bar will help set customers expectations
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Users were getting confused between the 1-4 steps outlined in the onboarding process and the numbers shown within the progress bar.
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It was unclear that Step 4 of 4 was referring to the steps within the application process rather than the onboarding as a whole.
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Recommendation:
Keeping the progress bar consistent throughout the designs will help the user understand which step they are on within the overall process. Additional information can then be added to give more context within sections of the onboarding, such as the quiz application or verification process.
It was unclear why source of wealth mattered, all would answer to get through the process but context would be appreciated
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One participant in Australia was very happy with how thorough the financial questions were and felt responsible which gave him more trust in FXCM as a company.
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The rest of the participants were split in half, some skipped past without hesitation, and the other half were not sure why this mattered as would expect that if their money was coming from a bank account that it was okay to use.
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Recommendation:
Use copy to explain why we are asking this question and how the information will be used within the application process.
Provide option to choose multiple sources, so that it matches the mental model of the user
