Remit Calculator

We discovered a high drop-off rate of 40% across overseas transfer journeys from the Analytic funnel. It quickly becomes our top priority to resolve the issue.

Our hypothesis

We identified two possible reasons for the drop-off. First, our rates may not be competitive enough to attract users. Second, the drop-off could stem from users checking rates, as remittance customers are highly rate-sensitive, seeking to maximise the amount they send to their loved ones. Upon reviewing our user journey, we discovered, to our dismay, that it takes a staggering five steps for users to view the rates.

Client: DBS
Role: Design Lead
Timeline: 2020

How we get there

Challenge: Simplifying the Rate-Checking Process for Users

We recognised the need for a rate-checking calculator that would allow users to quickly view rates without the hassle of account selection. However, we realised a calculator alone wouldn’t solve the issue.

 Initially, our efforts focused on improving the post-login experience. Despite our best attempts, users still faced too many steps. The turning point came when our product manager suggested moving the rate-checking feature to the pre-login page.

It reduced the process from five steps to just one, delivering a faster and more seamless experience. Not only did this boost user confidence to transfer when rates were favourable, but it also made our service accessible to a broader audience, including users who were previously unaware of it.

Result

Since the feature’s release, we’ve received encouraging feedback from users. Analytics show an impressive monthly average of 260,000 visits. Among these, users who choose to proceed demonstrate a strong conversion rate of 66%.