Eightcap needed to improve their sign up process and successfully onboard users with their web application. Core pieces of functionality such as the retention scheme were underutilised and were not fulfilling their potential. To improve retention rates, we needed to streamline the sign up process and engage clients within the portal.
- Lead time:
- 6 Weeks
- Sector:
- Fintech
- Target Type:
- B2C
- Demographic:
- Investors
- Project Type:
- Reduce sign up friction and increase engagement
- Services:
- UX design & UI design
- Scope
- Workshops with key stakeholders
- Creating detailed user flows
- Production of low and high fidelity wireframes
- Custom design implementation
- Aesthetic interaction design
- Resource
- 1x Senior UX Development
- 1x UI Designer
- 2x Technical Project Managers
Sign up and onboarding
Financial regulation demanded that Eightcap’s sign up process was robust and covered a range of steps. However, this fairly lengthy process didn’t align with conversion rate best practice for onboarding, resulting in higher than desired drop off rates and missed opportunities. The product marketing team were driving visitors to the platform, but many were lost before their first trade.
To improve this, we simplified the sign up process and addressed recurring pain points in the system. Introducing social sign-ups and SMS verification streamlined the experience for users across desktop and mobile devices while still meeting the financial regulatory requirements. Users are able to photograph their identification documents in-app, which maintains engagement throughout the sign up process.
Key to increasing the sign up rate was to maintain the user’s momentum; onboarding clients rapidly with concise notifications. Eightcap’s clients can now add payment cards by taking and uploading images in-app. Cards are then saved, making it easy to add and withdraw funds for future bids.
Gamification
EightCap’s reward scheme encourages clients to accrue points for each bid made and points can be redeemed for a variety of rewards in the online store. However, lack of awareness resulted in underutilisation. We tapped into the competitive nature of FX and CFD traders by gamifying the scheme and providing prominent placement of the reward centre within the application. The client dashboard contains a fixed panel dedicated to reward offers, showcasing the latest opportunities to earn points. Gamification incentivises timely sign up, encourages frequent engagements and boosts referral sign ups.
“They quickly developed a good understanding of our product and designed a new UI which is more engaging and user friendly. Highly recommended.”
