Creating Fast Experience for NPS Onboarding
Focus was to create a user-friendly interface that simplified the process of filling up NPS account opening and making it super fast in comparison to the competitors.
PensionBox
FinTech
Government websites, Bank websites, PaytmMoney, etc.
~8mins
Challenge
While integrating the National Pension Scheme account opening on the PensionBox app, we wanted it to be different from other competitors. The flow of onboarding is the same as it's a single government API that all others are using. How will you differentiate it then? While integrating the National Pension Scheme account opening on the PensionBox app, we aimed to make it stand out from competitors. Although the onboarding process follows the same flow, as it relies on a single government API that is used by all others, we wanted to differentiate it by improving the user experience. To achieve this, we conducted user research to identify areas for improvement. Our findings showed that users want the onboarding process to be fast, secure, and pre-filled. Pre-filled information is particularly important since users often have incorrect or inconsistent information in their government identities.
Results
Since PensionBox is a retirement app, we have most of the user's data already there to fill in the NPS account opening form. Leveraging on that, we asked for user consent for filling that data in the form, which also helped in reducing the time and effort of filling it manually, eventually creating a seamless experience for users.
<2mins
Avg. Onboarding time
4.2*
User Satisfaction
Process
Research & Analysis: In the initial round of research, we realized that all the other competitors were using the same API for account opening, which means the flow of the form in the backend would be the same. When we reached out to users, we realized that most of them wanted to open their NPS account but didn't like the cluttered experience and the effort required on government/bank websites.
Users seemed to like the PayTM Money app in that case. It provides a clean experience for users. However, since it is not the main offering for the Paytm Money App, they seem to keep it lengthy by unnecessarily asking for the same information multiple times.
We proceeded with the card sorting process with our users through Google Meet. We found great insights there that laid the foundation for creating a new information architecture for the flow of the app.
Information Architecture: We designed low-fidelity wireframes to visualize the new layout and navigation, iteratively refining by presenting them in front of users as well as stakeholders. We got a few visual ideas by involving the UI team in the process.
Wireframing & Prototyping: We designed low-fidelity wireframes to visualize the new layout and navigation, iteratively refining by presenting them in front of users as well as stakeholders. We got a few visual ideas by involving the UI team in the process.
Usability Testing: We conducted A/B testing for the flow by dividing a mix of users into 3 groups. All of them were asked to create their NPS account through PensionBox.
Two variants of prototypes were randomly shown to these users. These variants had different information architectures.
The variant with the fastest completion and success rate went to the development team to be developed for production and made live on the app.
Conclusion
This module was a critical component of the PensionBox app, serving as a major revenue stream and a key factor in delivering exceptional user value and experience. Our primary goal was to streamline the NPS account opening process to less than 2 minutes, which presented a significant challenge. It required considerable time and numerous iterations to achieve the desired outcome.
We discovered that while users desire a fast and seamless experience, they also value transparency and control over their data. Thus, while implementing features like pre-filling information for users, we also ensured that they were prompted for consent.
This module's success was pivotal for PensionBox, as it contributed significantly to user satisfaction and retention. It underscored the importance of balancing efficiency with user empowerment, ensuring that the app not only met but exceeded user expectations.