Product Designer
Onboarding
XP Inc
00.
Intro
Client onboarding new experience for XP Inc in white label, with the aim to embrance all brands of the group such as XP, Rico and Clear. A continous development based on data analitycs, A/B testing, identifying and addressing pain points in the user journey, ultimately aiming to result in a higher conversion rate and in an increased customer satisfaction.
01.
KPIs & Product Strategy
Improve XP Inc's onboarding experience
Increase conversion rate
02.
Outcomes
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40 to 24 imput fields
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9'30" to 4'30" completion time
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Significant increase in customer acquisition since launched
03.
How
XP's account opening process was one of the longest in the financial market, requiring the completion of 40 fields. With that in mind, our team conducted an extensive discovery to map and understand the main problems and difficulties our clients faced while going through this flow. During this process, we analyzed 30 market players, as well as several inspirational players. Additionally, we held workshops involving the security, back office, and registration teams to better understand which data was actually necessary to be requested, and when and how it should be done. Moreover, by cross-referencing the conversion funnel data with the registration steps, we created several hypotheses and suggestions for improvements.
After developing and conducting A/B tests to understand the best formats in terms of conversion versus experience, we concluded that the "Step by step" format, which simulates a conversation with the user and provides a greater sense of comfort and encouragement for filling out fields, was the optimal solution. Consequently, the result was a 20% increase in the conversion rate in the initial lead generation stage.
New iteractions: Once our new experience was launched this year, app only at the first moment, we countinued to analise and keep track of our metrics, and it resulted in new iteractions. Our design team, in addition to our data analytics, engeneering and product teams, created a weekly agenda to keep track and continuos develop this onboarding experience.
