📼 About Vance

Vance is a Neo global bank for NRIs that helps them to send money to India easy at Google exchange rates, investment in Indian Mutual Funds, open NRE/NRO accounts, and diversify with FDs in multiple currencies.

This app is currently live and available for NRIs in the UK 🇬🇧 and UAE 🇦🇪.

🎞️The story

Vance, a neo bank for NRIs, had previously lost customers due to sluggish money transfer speeds to India.

Recognizing this critical issue, the engineering team worked diligently to upgrade the backend infrastructure, successfully reducing international transfer times to just within 10 seconds.

After upgrading, many former and existing customers remain unaware of this improvement. This awareness gap has created a mismatch between Vance's enhanced capabilities and customer expectations, hindering efforts to regain lost customers and drive referrals.

<aside> 🧠 To tackle this, Vance's stakeholders and product managers proposed a campaign where customers would be given a small amount to transfer, allowing them to experience the improved near-instantaneous speeds firsthand.

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🔨 Breaking down the Problem

The challenge as the designer is crafting the right communication, positioning, and user flow to compel both existing and former Vance customers to actively participate in the hands-on experience of the upgraded near-instant money transfer speeds, in order to address lingering dissatisfaction, regain lost customers, and drive referrals.

😌 Solving the problem

Existing flow

First I mapped out the existing user flow for Vance's money transfer process. This allowed me to identify potential friction points and areas for optimization within the current experience.

1. KYC (Know Your Customer) verification

   • Users must complete the necessary KYC process before they can participate in the hands-on experience.
   • This ensures compliance and sets the foundation for the money transfer activity.

2. Add recipients

   • Users will be required to add the recipients (likely a predefined account) to whom they will be sending the money.
   • This is a mandatory step before they can proceed with the actual money transfer.

   

3. Review and Send

   • After adding the participant, users will review the transfer details.
   • Once reviewed, users will complete the money transfer to the participant account.