Improving KYC Success Rates
Why is KYC Important for the company?
Users cannot Buy, Sell, or Swap on RockWallet without completing KYC. Know Your Customer (KYC) guidelines help financial institutions identify potential fraud or illicit behavior, such as money laundering and terrorism financing.
Moreover, RockWallet cannot profit transaction fees from non KYC Approved users.
Business Problem
33% of users from 2019 -2023 have abandon the KYC process. That means that these users cannot transact on the app, which impacts RockWallet's revenue.
User Interviews & Testing Results
To better understand user pain points, I drafted a usability test script and used Userlytics to recruit 10 participants. Users downloaded the RockWallet app and screen recorded their experience using the app. Usability testing revealed flow, copy, and UI issues contributing to low completion rates.
1/10
User successfully completed the KYC process
2/10
Users understood what the app offers
5/10
Users skipped the KYC process unknowingly
8/10
Users described the app as 'sketchy' and 'glitchy'
Translating Insights into a User Persona
After conducting UX interviews, I synthesized all of the findings into a User Persona that represents RockWallet's average user and their pain points, goals, and habits. The average user considered KYC to be mandatory and expects it to be very seamless.
The original flow placed 'Create Your Account' at the end, and the 'Skip' button exited the flow completely-creating confusion.
Identifying Key Problems and Drafting User Stories
As a lead, my responsibility was to work closely with the Product and Engineering team to communicate the key problems we were trying to solve. Each of the 3 key problems below had 3-4 user stories each that the UX/UI team was responsible for creating designs for.
Trust
The onboarding flow needs to be more informative, trustworthy, and have no glitches.
Informative
The onboarding flow should have clear progress bars, supportive messaging.
Educational
The onboarding flow should educate the user of the product offerings.
Wireframes and Getting Early Approvals
In the wireframe stage, I experimented with different ways to improve the onboarding experience. I addressed key usability issues by reordering the flow so that account creation came first—this aligned with user expectations and helped reduce early drop-off.
I also experimented with pop-up confirmations when users attempted to exit onboarding, aiming to prevent accidental exits. Additionally, I tested clearer messaging to notify users when identity verification was about to begin, making the transition feel more transparent and intentional.
Navigating Complex User Profiles and achieving feasiblity
Designing High Fidelity designs wasn't straightforward. KYC logic depends on risk assessments from Sardine and Veriff. Each user's path is shaped by their risk level (High, Medium, Low), Tax ID status, and fraud signals. I collaborated with Product, Payments, and Compliance to design flows that adapt dynamically without sacrificing clarity.
An example of all of the possible paths the app can route the user depending on their SSN status and overall risk profile.
Delivery: High Fidelity Designs
Below are some notable changes that resolve the user pain points stated earlier.
KYC Start Screen
This screen clearly informs the user the start of the KYC process, what's required, and how many steps there are.
I also collaborated with my UI design team to create a custom Lottie file to show a showreel of the steps required.
Progress Bars
After user testing, I decided to use a step by step progress bar instead of the fill up progress bar. Users described the fill up bar feels too 'suspenseful'.
FOMO Pop Ups
The user will now be warned of the consequences of exiting the verification process.
I worked with the marketing team to craft strategic UX writing to try to convince the user to not exit.
Welcome to RockWallet
I advocated the use of more Lottie files to create moments of wonder and delight throughout the onboarding experience.
This screen clearly shows trade limits, clear CTAs, and verification status.
Navigating Technical Constraints and advocating for my design choices
The engineering teams presented several technical constraints working with SDKs (software development kit). Usually, making changes to the SDK is nearly impossible and requires rounds of approvals.
However, I was adamant to include a buffering animation on the screen where the user waits to learn their KYC verification status. Users these days have low tolerance for prolonged wait times so I proposed simple ways we can give the illusion of the passage of time.
My Proposal and Reasoning
“Boredom results from being attentive to the passage of time itself” - William James
I proposed replacing the static check mark with a simple loading icon to give the user a visual indicator that the app is actively verifying their identify. Moreover, I proposed a slide up tray to enable notifications that would would appear if verification takes more than 10 second average.
Beta Testing Results
After about 2-3 months of research, product meetings, wireframing, and testing, I was able to deliver the approved mock-ups to the development team. The testing results indicate that this new onboarding flow will achieve business KPIs and boost KYC success rates, thus boosting revenue for RockWallet.
100% KYC Success Rates
20/20 users were able to complete the flow and become KYC Expressed (beta version does not account for actual user risk profiles).
No technical glitches
By removing the 'skip = exit' scenario mentioned earlier, users were able to stay in the onboarding flow without accidentally exiting.
A more guided experience
All beta testers felt more educated and supported because of the new tooltips and pop-ups I proposed to implement.
✨ Bonus
If I had more time…
The color red subconsciously has a negative effect on the user. It's even worse if it is used repeatedly. The combination of better UX writing and a different color would disrupt the user less and keep them in the flow state.
Learnings
After delivering approved UX flows to the software developers, I addressed any QA, UX, UI issues for about 2 months of the development cycle. I learned the following:
Test, Iterate, Improve. Fail often but fast.
Dream Big, Start Small. Be cautiously ambitious!
The developers are located in Europe and India so the time difference (+-10 hours) was difficult to navigate- but I managed to set up a system of check- ins, prioritization, and weekly milestones.
My role was to communicate any major issues to the design and Product team, pivoting design decisions based on technical limitations and fluctuating business requirements
Overall this project challenged my leadership and organizational skills and I was proud to design a flow with my team that achieves the business objective.
Thank You For Reading!
🎉
Improving KYC Success Rates
Company
RockWallet
Role
Senior UX Designer
Result
Successful Delivery
Duration
5 Months
Why is KYC Important for the company?
Users cannot Buy, Sell, or Swap on RockWallet without completing KYC. Know Your Customer (KYC) guidelines help financial institutions identify potential fraud or illicit behavior, such as money laundering and terrorism financing.
Moreover, RockWallet cannot profit transaction fees from non KYC Approved users.
Business Problem
33% of users from 2019 -2023 have abandon the KYC process. That means that these users cannot transact on the app, which impacts RockWallet's revenue.
User Interviews & Testing Results
To better understand user pain points, I drafted a usability test script and used Userlytics to recruit 10 participants. Users downloaded the RockWallet app and screen recorded their experience using the app. Usability testing revealed flow, copy, and UI issues contributing to low completion rates.
1/10
User successfully completed the KYC process
2/10
Users understood what the app offers
5/10
Users skipped the KYC process unknowingly
10/10
Users described the app as 'sketchy' and 'glitchy'
Translating Insights into a User Persona
After conducting UX interviews, I synthesized all of the findings into a User Persona that represents RockWallet's average user and their pain points, goals, and habits. The average user considered KYC to be mandatory and expects it to be very seamless.
Finding Flaws in the Customer Journey
The original flow placed 'Create Your Account' at the end, and the 'Skip' button exited the flow completely-creating confusion.
Identifying Key Problems and Drafting User Stories
As a lead, my responsibility was to work closely with the Product and Engineering team to communicate the key problems we were trying to solve. Each of the 3 key problems below had 3-4 user stories each that the UX/UI team was responsible for creating designs for.
Trust
The onboarding flow needs to be more informative, trustworthy, and have no glitches.
Informative
The onboarding flow should have clear progress bars, supportive messaging.
Educational
The onboarding flow should educate the user of the product offerings.
Wireframes and Getting Early Approvals
In the wireframe stage, I experimented with different ways to improve the onboarding experience. I addressed key usability issues by reordering the flow so that account creation came first—this aligned with user expectations and helped reduce early drop-off. I also experimented with pop-up confirmations when users attempted to exit onboarding, aiming to prevent accidental exits. Additionally, I tested clearer messaging to notify users when identity verification was about to begin, making the transition feel more transparent and intentional.
Navigating Complex User Profiles and achieving feasiblity
Designing High Fidelity designs wasn't straightforward. KYC logic depends on risk assessments from Sardine and Veriff. Each user's path is shaped by their risk level (High, Medium, Low), Tax ID status, and fraud signals. I collaborated with Product, Payments, and Compliance to design flows that adapt dynamically without sacrificing clarity.
An example of all of the possible paths the app can route the user depending on their SSN status and overall risk profile.
Delivery: High Fidelity Designs
After low/ mid fidelity wireframes and analyzing apps like Duolingo, Coinbase, and Twitter for modern UX patterns, my team and I leveraged our design system and created the following high fidelity designs that address the key problems in the onboarding flow. Below are some notable changes that resolve the user pain points stated earlier.
KYC Start Screen
This screen clearly informs the user the start of the KYC process, what's required, and how many steps there are.
I also collaborated with my UI design team to create a custom Lottie file to show a showreel of the steps required.
Progress Bars
After user testing, I decided to use a step by step progress bar instead of the fill up progress bar. Users described the fill up bar feels too 'suspenseful'.
FOMO Pop Ups
The user will now be warned of the consequences of exiting the verification process.
I worked with the marketing team to craft strategic UX writing to try to convince the user to not exit.
Welcome to RockWallet
I advocated the use of more Lottie files to create moments of wonder and delight throughout the onboarding experience.
This screen clearly shows trade limits, clear CTAs, and verification status.
Navigating Technical Constraints and advocating for my design choices
The engineering teams presented several technical constraints working with SDKs (software development kit). Usually, making changes to the SDK is nearly impossible and requires rounds of approvals. However, I was adamant to include a buffering animation on the screen where the user waits to learn their KYC verification status. Users these days have low tolerance for prolonged wait times so I proposed simple ways we can give the illusion of the passage of time.
My Proposal and Reasoning
“Boredom results from being attentive to the passage of time itself” - William James
I proposed replacing the static check mark with a simple loading icon to give the user a visual indicator that the app is actively verifying their identify. Moreover, I proposed a slide up tray to enable notifications that would would appear if verification takes more than 10 second average.
Beta Testing Results
After about 2-3 months of research, product meetings, wireframing, and testing, I was able to deliver the approved mock-ups to the development team. The testing results indicate that this new onboarding flow will achieve business KPIs and boost KYC success rates, thus boosting revenue for RockWallet.
100% KYC Success Rates
20/20 users were able to complete the flow and become KYC Expressed (beta version does not account for actual user risk profiles).
No technical glitches
By removing the 'skip = exit' scenario mentioned earlier, users were able to stay in the onboarding flow without accidentally exiting.
A more guided experience
All beta testers felt more educated and supported because of the new tooltips and pop-ups I proposed to implement.
✨ Bonus
If I had more time…
The color red subconsciously has a negative effect on the user. It's even worse if it is used repeatedly. The combination of better UX writing and a different color would disrupt the user less and keep them in the flow state.
Stop blaming the user
The constant use of red is triggering for a new user.
If I had more time I would've worked with the Product Management and Engineering teams to update the in app toaster messaging system.
I would explore other color options and more pleasant UX writing to guide the user instead of blaming them.
Learnings
After delivering approved UX flows to the software developers, I addressed any QA, UX, UI issues for about 2 months of the development cycle. I learned the following:
Test, Iterate, Improve. Fail often but fast.
Dream Big, Start Small. Be cautiously ambitious!
The developers are located in Europe and India so the time difference (+-10 hours) was difficult to navigate- but I managed to set up a system of check- ins, prioritization, and weekly milestones.
My role was to communicate any major issues to the design and Product team, pivoting design decisions based on technical limitations and fluctuating business requirements
Overall this project challenged my leadership and organizational skills and I was proud to design a flow with my team that achieves the business objective.
Thank You For Reading!
🎉