Streamlining the BlockFi onboarding process for individual and business accounts
About this project
Timeline
2019 - 2020
Contributors
Owen Darbonne,
Senior Product Manager
Buenos Aires
Engineering Team
Compliance manager
Rocket Air,
Design agency
What is BlockFi?
BlockFi was a crypto lender and trading platform, reaching a 3 Billion valuation before going into bankruptcy due to the FTX collapse.
What’s this project about?
The onboarding process for a financial tool has many legal requirements – we aimed to make this process as smooth, fast and secure as possible for retail users.
We identified huge opportunities to improve the existing flow, including for business users, where we were able to automate more and reduce manual work.
What was the existing workflow like?
Users were constantly contacting the customer service team, confused about the signup process — wherein a user would create an account, then navigate to the profile section, add their personal details, and pass a third party identity verification which had a success rate at about 40%.
Most users would get stuck on the second 'step', with access to the platform itself but all products gated and insufficient instructions.
Business account users were required to send necessary documents over email, slowing down access and requiring a lot of manual work.
Screenshot of original web platform account creation screen
What improvements were made to the workflow for individuals?
We designed this workflow first for our new iOS platform, which lended itself to a snappy wizard style process to get through all of the questions quickly and easily. All of the necessary details could be added during this flow, so that users would be able to get instant access to all of BlockFi’s features.
We replaced our identity verification integration with a new provider, which allowed most individuals in the United States to get instant access. We improved the completion rate of this flow from about 40% to about 80%.
What improvements were made to the process for business users?
I interviewed our Compliance Manager about the existing workflow in order to understand the pain points we had internally.
By enabling prospective business account holders to answer questions and submit relevant documents within the workflow itself, we greatly reduced the manual work needed by our team — and made the process much faster for users.
Desktop designs aimed to move toward the new app style, utilizing the bright blue accent color with the subdued desktop UI at the time.
What improvements were made on desktop?
The UI on desktop had become a patchwork of different style guides as the brand had evolved quickly in the last several months. We designed this new onboarding workflow to push the UI on web further toward the app, and include all of the great UX improvements we made on iOS.
© 2035 by Leah Kasten