Improving Exchange Rates in Monzo
Project Type: Concept iOS App
Organisation: General Assembly
Team Size: 4
Project Length: 2 week sprint
Opportunity
Improving the user experience of international transfers and exchange rates.
Results
Both novice users were able to understand exchange rates more easily without impacting seasoned users. People felt able to make more informed choices about knowing the best time to transfer money abroad.
The Problem
User research and competitive analysis highlighted two opportunities to address.
1. Many people struggle to understand exchange rates. For example, if told the exchange rate was 0.84 they could not say what this would mean for their transfer. This was especially true of those who reported that they are dyslexic and/or dyspraxic.
2. Novice users do not have the knowledge to know if it is a good or bad time to transfer money internationally. There is information out there that can help them, but they need to know what to look for and where to find it.
Ideating different ideas on paper that might solve the problem.
Activities
- User Interviews
- User Survey
- Task Analysis
- Experience Map
- Competitive Analysis
- User Flows
- Paper Prototyping
- Mid and High-Fidelity Wireframing
- InVision Prototype
- User & Usability Testing
- Design Studio
- Agile Practices (stand-ups & retros)
Key Role
- Screening Survey
- User Interview Questions
- Workshop Facilitation
- Mid-fidelity Prototype
- Onboarding Journey Design & Testing
Tools/Software
- Sketch
- Abstract
- InVision
- Marvel
- Trello
- Google Docs
- Keynote
Testing the initial concept on paper.
The Solution
A new exchange rates feature designed to help users know when to make transfers, and to help novice users (including those with dyslexia and dyspraxia) understand exchange rates.
It includes:
- An onboarding journey to educate users about the new feature.
- An information screen that helps users make informed decisions about if it's a good time to transfer.
- Exchange rates written in a format that takes the cognitive load away from the user.
High-fidelity sketch prototype after several iterations.