Data Trust & Privacy Project
Decreasing drop-off rates for Direct Investing account creation and integrating 3rd party platform for identity verification.
Internship Overview
Type:
Web Redesign
My role:
Experience Design Intern
Duration:
4 months
Team:
Customer Experience Design & Insights Team
Tools:
Figma
Mural
UserTesting.com
Company:
Royal Bank of Canada
Problem Overview
I needed to understand the why behind the 64% drop-off rates for Direct Investing Account opening journey and how do we decrease the drop-off rates.
Research & Problem Exploration
Identifying different pain points
Through synthesizing past research (market research, competitor analysis, client research, product analysis) and user testing conducted by other product teams leading designs of different business functions, we discovered the root causes of the high drop-off rates.

Overwhelming content

When opening a Direct Investing account, each step requires clients to obtain an overwhelming amount of information. As a result of having to read through heavy text paragraphs with technical vocabulary relating privacy laws, caused concern and confusion for clients.

Friction points within the UX Flow

The existing UX flow lacked fluidity and required a number of steps that lengthened the process to open a Direct Investing account.

Privacy concerns for identity verification using the suggested third-party platform

Clients were wary of the third-party platform regarding it is accountability and trust. Given the lack of information on the platform, clients were less likely to open an account online. Thus, resulting in great drop-off rates.

Product teams integrating the same third-party platform are siloed resulting in inconsistent user journeys across the organization.
After examining the user journeys of integrating the third-party identity verification platform across different product teams, I discovered it caused different experience and brand confusion for clients as they needed to go through different experiences for the same course of action.
After examining the user journeys of integrating the third-party identity verification platform across different product teams, I discovered it caused different experience and brand confusion for clients as they needed to go through different experiences for the same course of action.
Approach & Solution Ideation
Comparing the two user flow variations
I created wireframes that translated the complex requirements into simple user journeys and tangible design solutions. I’m unable to disclose the content and specifics of this NDA project. However, I’ve created a skeleton design of my wireframes to showcase the general flow of the two user journeys we were testing. This step helped me to compare the two user flows and test out the success rate of each variation.
Test A
The steps guide clients to use the third-party platform RBC is partnered with for identity verification.
Test B
Clients are provided the options to select their own identity verification method with no additional emphasis on the online verification method.
Conducting user tests were necessary for design validation and key findings.
As a result, I conducted user testing on UserTesting.com to validate the findings and discover the success rate of the new designs. (40 completed user tests)

People typically trust Financial Institutions more than Tech companies.

Identified three client segments:
a. Gen Z and Millennials (Very likely to proceed)
b. Boomers (Less likely to proceed and prefers traditional methods like going in person)
c. Clients who are willing to proceed because their bank suggested the third-party platform and they trust their bank

There were at least  ~80% of clients willing to proceed with the account opening process, which decreases the drop-off rates by 30%.

Eliminating bottlenecks within the organization by implementing a design guideline.
From a business perspective, Product Teams need a design guideline that will instill standardization of what needs to be included for design alignment and unification of organization brand. The guideline will be broken down into four core pillars to fulfill all areas needed for improvement.

1

Standardizing requirements for content, user experience, and visual

2

How well it satisfies RBC’s strategy framework for data trust & privacy

3

User stories and how it benefits clients

4

How these elements should be implemented
Key Takeaways

My reflection

Navigating through ambiguity

Oftentimes I found myself having to navigate through ambiguity given that my manager was in a non-technical role and could only provide requirements for the project. Although the deliverables were a little difficult to navigate at first, I learned to get creative with my problem solving skills and meeting others within the team who provided great guidance.

Applying product thinking to my work

Coming from a business background, I was able to develop a strong understanding of the problem from a business perspective. I understood the impact of my designs and the underlying bottlenecks the organization faced as a result of the problem.

Balancing stakeholder management

A large organization comes with layers of management and cross-functional collaboration. The data, trust and privacy project involves many c-suite level (VPs), directors and product teams to be involved. As a part of my role, I needed to ensure my designs satisfied organization and client goals.

Thank you, RBC!

Overall, I was able to work alongside incredible leaders with years of industry experience. From the way they approached problems to execution provided so much insight to an intern like myself.  They provided so much guidance and were incredibly welcoming. I am so appreciative of the team and my time at RBC!

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