Momentum Plus Savings Account

This account offered a competitive advantage to the customers that no other account in the market offered: the possibility to earn high interest while distributing your money into multiple “saving buckets” for different goals within the same account. However, the complexity of the features presented several challenges that we needed to solve: How to explain clearly to the customers the account functionality and how to provide a way to manage the multiple “saving periods”, the main feature of the account.

First iteration

Because the product page was our first opportunity to inform the user about the features, we wanted to explain as much as we could in a condensed, visual way, how the product works. In the application flow, we not only wanted to allow the customer to open the account but we also included the option to open several “saving periods” in the application, which we considered our big selling aspect of this account.

The usability tests showed that the extra visuals in the product page weren't enough to explain the product and instead confused more the customer while having the option to create a “saving periods” in the application flow simply added another extra layer of friction in addition to the lack of understanding of the features coming from the product page.

Last iteration

Based on the results of the usability testing, we decided to simplify the product page, showing only the essential information, removing jargon and complexity in the content, and we added a “More details” section that could progressively disclose more information about the product as needed without the need of ambiguous info-graphics. As a result, the users were able to understand and explain the product.

The application flow was reduced to only 3 steps making it faster and the "period creation" was included only as an option after the account was successfully opened reducing the friction and confusion.