Case study

EQ Bank

Innovating Onboarding

Timeline

2023-2024

Role

Senior UX/Service Designer

Tools

Figma, Notion, JIRA

Case study

EQ Bank

Innovating Onboarding

Timeline

2023-2024

Role

Senior UX/Service Designer

Tools

Figma, Notion, JIRA

Case study

EQ Bank

Innovating Onboarding

Timeline

2023-2024

Role

Senior UX/Service Designer

Tools

Figma, Notion, JIRA

Overview

EQ Bank is Canada’s largest challenger bank, serving 640,000 users with $74 billion in assets. I led the product design for EQ Bank’s Business Banking platform, introducing innovations that redefined Canadian banking, improved user experience, aligned with strategic business goals, and drove revenue growth.

This project involved a complete overhaul of the onboarding process at EQ Bank, as the existing onboarding flow used for Personal Banking was unsuitable for the extensive user data required for business accounts.

The objective was to reduce friction, enhance user experience, and deliver measurable business outcomes for this new 0-to-1 venture in a highly regulated and competitive industry.

The Problem

High drop-off rates in personal banking onboarding process

High drop-off rates in personal banking onboarding process

Low trust despite being Canada’s 7th largest bank

Low trust despite being Canada’s 7th largest bank

Traditional business onboarding is very complicated

Traditional business onboarding is very complicated

Demographic

  • Catering to small businesses with 10 or fewer employees, addressing their unique challenges and limited familiarity with business banking.

  • Catering to small businesses with 10 or fewer employees, addressing their unique challenges and limited familiarity with business banking.

  • Focused on sole proprietorships and incorporated entities, tailoring solutions to ensure each complies with stringent government-imposed regulatory requirements.

  • Focused on sole proprietorships and incorporated entities, tailoring solutions to ensure each complies with stringent government-imposed regulatory requirements.

Research

  • Analyzed onboarding flows of 30+ global business banking products, extracting actionable insights to inform design strategies.

  • Analyzed onboarding flows of 30+ global business banking products, extracting actionable insights to inform design strategies.

  • Conducted comprehensive user research, including interviews, surveys, and usability testing, to identify critical user needs and pain points in the onboarding journey.

  • Conducted comprehensive user research, including interviews, surveys, and usability testing, to identify critical user needs and pain points in the onboarding journey.

The Solution

Optimizing UX for Simplicity and User Confidence

Highlighted trust and social proof to help users feel confident in their choice

Highlighted trust and social proof to help users feel confident in their choice

Used large UI elements to ease complex flows, creating a more approachable UX

Used large UI elements to ease complex flows, creating a more approachable UX

Streamlined two-step verification with intuitive features to boost ease and satisfaction

Streamlined two-step verification with intuitive features to boost ease and satisfaction

Positive reinforcements and satisfying feedback to make the lengthy onboarding processes feel lighter

Positive reinforcements and satisfying feedback to make the lengthy onboarding processes feel lighter

Filter search inputs to reduce user cognitive load and prevent errors

Filter search inputs to reduce user cognitive load and prevent errors

Replaced most drop-downs with chips to reduce clicks and save users time

Replaced most drop-downs with chips to reduce clicks and save users time

Simplifying UX with a Value-Focused Right Pane

Building trust and highlighting unique value propositions

Building trust with social proof

Building trust with social proof

Reinforcing positive benefits

Reinforcing positive benefits

Highlighting key differentiators

Highlighting key differentiators

Simplifying complex business concepts to keep users supported and focused

Clarifying key business terms

Clarifying key business terms

Ensuring SIN safety and trust

Ensuring SIN safety and trust

Simplifying terms to reduce confusion

Simplifying terms to reduce confusion

Crafting a Smooth and Intuitive Mobile Experience

The Results

99%

Reduced onboarding time by 99%, from the Canadian industry standard of 7 days to 10 minutes.

38%

Contributed to a 38% YoY customer growth, driving $8.3 billion in deposits.

Before

Before

After

After