A swift fx transaction with goza.
A swift fx transaction
with goza.
CW Express Centro Cambiario has dedicated their business to foreign exchange in the city of Mexicali BC for more than 50 years. Offering customers the best rates for pesos (MXN) and dollars (USD), the company wanted to modernize the way their customers obtained foreign exchange transactions.
Team
UX Research Team
2 Product Designers
My Role
Product Designer
Stakeholders
CEO
Systems Manager, CAWOMEX-Real Estate
Timeframe
3 Weeks
Challenge
Primarily an in-person queue to exchange cash, CW Express wanted to create an app that allowed users to exchange money remotely, allowing for users to access the newly exchanged money with a debit card or pick up in an express lane.
Primarily an in-person queue to exchange cash, CW Express wanted to create an app that allowed users to exchange money remotely, allowing for users to access the newly exchanged money with a debit card or pick up in an express lane.
Solution
I was asked to reassess and re-design the mobile app to ensure features could facilitate quick, informative, and convenient foreign exchange transactions with the potential to increasing transaction rate.
I was asked to reassess and re-design the mobile app to ensure features could facilitate quick, informative, and convenient foreign exchange transactions with the potential to increasing transaction rate.
Research & Insights
Research & Insights
Clients want to increase business.
Clients want to increase business.
Clients want to increase business.
After speaking with CWExpress leadership, their request for the app was to meet the technology standards of today's banking environment and create convenience for customers. Taking these into account, I determined the following product goals for this app:
Goal #1: Seamlessly complete foreign transactions (MXN / USD)
Goal #2: Facilitate deposits into Goza debit card
Goal #3: Facilitate convenient withdrawals, digital or physical
I conducted a competitive analysis with Chase, CitiBank, and Chime to understand banking apps that allowed customers to complete similar goals, including viewing balances, transactions, withdrawals, and deposits.
After speaking with CWExpress leadership, their request for the app was to meet the technology standards of today's banking environment and create convenience for customers. Taking these into account, I determined the following product goals for this app:
Goal #1: Seamlessly complete foreign transactions (MXN / USD)
Goal #2: Facilitate deposits into Goza debit card
Goal #3: Facilitate convenient withdrawals, digital or physical
I conducted a competitive analysis with Chase, CitiBank, and Chime to understand banking apps that allowed customers to complete similar goals, including viewing balances, transactions, withdrawals, and deposits.
After speaking with CWExpress leadership, their request for the app was to meet the technology standards of today's banking environment and create convenience for customers. Taking these into account, I determined the following product goals for this app:
Goal #1: Seamlessly complete foreign transactions (MXN / USD)
Goal #2: Facilitate deposits into Goza debit card
Goal #3: Facilitate convenient withdrawals, digital or physical
I conducted a competitive analysis with Chase, CitiBank, and Chime to understand banking apps that allowed customers to complete similar goals, including viewing balances, transactions, withdrawals, and deposits.
Customers want convenience.
Customers want convenience.
Customers want convenience.
I reviewed interview notes from the UXR team, and conducted a few interviews of my own. New insights emerged, including:
Time Constraint Majority of users don't have the time to stand in line for errands. The faster they can complete tasks, the more time they have to enjoy their day.
Convenience With the rise of technology, tasks can be done with a few clicks on the phone. Users would like daily tasks to be modernized so that they can complete errands conveniently.
Informative Users who are financially savvy would like to know the whereabouts of their money, and current transaction rates. As cash is hard to track, users enjoy tracking their transactions on a mobile app for easy accounting.
Accessible Users like that they have access to banking services 24/7 from anywhere with an internet connection. Some users may need to conduct current exchanges outside of regular working hours or while traveling.
I reviewed interview notes from the UXR team, and conducted a few interviews of my own. New insights emerged, including:
Time Constraint Majority of users don't have the time to stand in line for errands. The faster they can complete tasks, the more time they have to enjoy their day.
Convenience With the rise of technology, tasks can be done with a few clicks on the phone. Users would like daily tasks to be modernized so that they can complete errands conveniently.
Informative Users who are financially savvy would like to know the whereabouts of their money, and current transaction rates. As cash is hard to track, users enjoy tracking their transactions on a mobile app for easy accounting.
Accessible Users like that they have access to banking services 24/7 from anywhere with an internet connection. Some users may need to conduct current exchanges outside of regular working hours or while traveling.
I reviewed interview notes from the UXR team, and conducted a few interviews of my own. New insights emerged, including:
Time Constraint Majority of users don't have the time to stand in line for errands. The faster they can complete tasks, the more time they have to enjoy their day.
Convenience With the rise of technology, tasks can be done with a few clicks on the phone. Users would like daily tasks to be modernized so that they can complete errands conveniently.
Informative Users who are financially savvy would like to know the whereabouts of their money, and current transaction rates. As cash is hard to track, users enjoy tracking their transactions on a mobile app for easy accounting.
Accessible Users like that they have access to banking services 24/7 from anywhere with an internet connection. Some users may need to conduct current exchanges outside of regular working hours or while traveling.
UPCOMING ORDERS WITH QR CODE
UPCOMING ORDERS
WITH QR CODE
3 feature ideations
3 feature ideations
As part of user testing, I asked users to (1) Exchange money from MXN to USD to complete a money order, and (2) Withdrawal an upcoming money order pickup at the bank.
Though 100% users were able to complete the first task, there was no existing work-flow to complete the second task. Ideating on how users could withdraw money quickly from a teller, I decided to capitalize on a trending technology: QR codes. A QR code could be the easiest way to have a teller scan and confirm an order in a timely manner.
As part of user testing, I asked users to (1) Exchange money from MXN to USD to complete a money order, and (2) Withdrawal an upcoming money order pickup at the bank.
Though 100% users were able to complete the first task, there was no existing work-flow to complete the second task. Ideating on how users could withdraw money quickly from a teller, I decided to capitalize on a trending technology: QR codes. A QR code could be the easiest way to have a teller scan and confirm an order in a timely manner.
financial summary
Testing the initial designs, 4 out of 5 users felt that the initial home screen didn't include the important information they'd want when completing a money related task. 2 users mentioned wanting to understand the exchange rate of the day. 4 users mentioned that not having a sticky navigation bar in the app felt unconventional.
I decided to iterate on the previous design's UI to include this user feedback. By minimizing some padding and white space, I was able to include a feature for Upcoming Withdrawals, Current Exchange Rate, and implemented a navigation bar that housed 4 of the main objectives of this app.
Testing the team's initial designs, 4 out of 5 users felt that the initial home screen didn't include the important information they'd want when completing a money related task. 2 users mentioned wanting to understand the exchange rate of the day. 4 users mentioned that not having a sticky navigation bar in the app felt unconventional.
I decided to iterate on the previous design's UI to include this user feedback. By minimizing some padding and white space, I was able to include a feature for Upcoming Withdrawals, Current Exchange Rate, and implemented a navigation bar that housed 4 of the main objectives of this app.
EXECUTING FX TRANSACTION (ACH/CASH)
EXECUTING FX TRANSACTION (ACH/CASH)
EXECUTING FX TRANSACTION (ACH/CASH)
Making sure to include the product goal of users depositing and withdrawing MXN / USD by debit card or as a pre-processed physical pick-up, I created a workflow with inspiration from existing bank apps. I was able to help finalize a user flow that confirmed the amount to exchange, how it will be paid for, how it will be deposited (debit card or physical cash pick-up), and an order confirmation. This flow would allow customers to order or access their exchanged money remotely in a convenient and timely manner.
Making sure to include the product goal of users depositing and withdrawing MXN / USD by debit card or as a pre-processed physical pick-up, I created a workflow with inspiration from existing bank apps. I was able to help finalize a user flow that confirmed the amount to exchange, how it will be paid for, how it will be deposited (debit card or physical cash pick-up), and an order confirmation. This flow would allow customers to order or access their exchanged money remotely in a convenient and timely manner.
UPCOMING ORDERS WITH QR CODE
feature ideation
As part of user testing, I asked users to (1) Exchange money from MXN to USD to complete a money order, and (2) Withdrawal an upcoming money order pickup at the bank.
Though 100% users were able to complete the first task, there was no existing work-flow to complete the second task. Ideating on how users could withdraw money quickly from a teller, I decided to capitalize on a trending technology: QR codes. A QR code could be the easiest way to have a teller scan and confirm an order in a timely manner.
financial summary
Testing the initial designs, 4 out of 5 users felt that the initial home screen didn't include the important information they'd want when completing a money related task. 2 users mentioned wanting to understand the exchange rate of the day. 4 users mentioned that not having a sticky navigation bar in the app felt unconventional.
I decided to iterate on the previous design's UI to include this user feedback. By minimizing some padding and white space, I was able to include a feature for Upcoming Withdrawals, Current Exchange Rate, and implemented a navigation bar that housed 4 of the main objectives of this app.
Lessons Learned
Lessons
Learned
Lessons Learned
A few things I learned while working with the client and third-party consultants:
Local Research Consulting from afar, I learned how important it is to be able to access end-users. Ultimately, those I had interviewed may not have been the target audience for exchanging money. This may have affected my usability testing as well as the research conducted did not include users conducting money exchanges with CW Express.
Money Literacy Through my own research, I found that the spectrum of financial literacy and foreign exchange can vary. The UX and UI need to work together to address the needs of regular customer, and to individuals who may have never dealt with currency exchange before,
Specifying Copy Because financial vocabulary can be confusing, it's critical that the copy be accurate and differentiated on this app. When I was creating labels, I would second guess my use of words (ie "Exchange" vs "Transaction") as it came too similar to context that would later be seen on a different page.
A few things I learned while working with the client and third-party consultants:
Local Research Consulting from afar, I learned how important it is to be able to access end-users. Ultimately, those I had interviewed may not have been the target audience for exchanging money. This may have affected my usability testing as well as the research conducted did not include users conducting money exchanges with CW Express.
Money Literacy Through my own research, I found that the spectrum of financial literacy and foreign exchange can vary. The UX and UI need to work together to address the needs of regular customer, and to individuals who may have never dealt with currency exchange before,
Specifying Copy Because financial vocabulary can be confusing, it's critical that the copy be accurate and differentiated on this app. When I was creating labels, I would second guess my use of words (ie "Exchange" vs "Transaction") as it came too similar to context that would later be seen on a different page.