Credit union's [i]33% boost[/i] in account opening conversions
Meriwest Credit Union found out why applicants dropped off, then removed the friction.
The challenge
The challenge
The challenge
The challenge
The challenge
Applicants were dropping out of account opening, and [i]Meriwest couldn't see why[/i].
Applicants were dropping out of account opening, and [i]Meriwest couldn't see why[/i].
Applicants were dropping out of account opening, and [i]Meriwest couldn't see why[/i].
Applicants were dropping out of account opening, and [i]Meriwest couldn't see why[/i].
Applicants were dropping out of account opening, and [i]Meriwest couldn't see why[/i].
Meriwest is a $2B+ credit union serving 75,000+ members. Growth depended on winning digital-native members through its marketing site and NCR Terafina account opening flow.
User drop-off
User drop-off
User drop-off
User drop-off
User drop-off
Meriwest could pinpoint where users left the flow but couldn't tell why.
New generations
New generations
New generations
New generations
New generations
Millennial and Gen Z members expect more from digital account opening.
Off-the-shelf tech
Off-the-shelf tech
Off-the-shelf tech
Off-the-shelf tech
Off-the-shelf tech
Combining multiple off-the-shelf solutions into one consistent experience was hard.
The vision for Meriwest Credit Union
The vision for Meriwest Credit Union
The vision for Meriwest Credit Union
The vision for Meriwest Credit Union
The vision for Meriwest Credit Union
Meriwest sought to reduce friction and increase conversions by understanding why prospective members dropped off before converting within their marketing website and NCR's Terafina account opening experience.
What Praxent did
What Praxent did
What Praxent did
What Praxent did
What Praxent did
Research first, then a redesign that removes friction
Research first, then a redesign that removes friction
Research first, then a redesign that removes friction
Research first, then a redesign that removes friction
Research first, then a redesign that removes friction
Praxent audited the full journey and talked with prospective members to find the information and validation they were missing.
UX audit that surfaced 70+ friction points
UX audit that surfaced 70+ friction points
UX audit that surfaced 70+ friction points
UX audit that surfaced 70+ friction points
UX audit that surfaced 70+ friction points
Research workshops and 8 user interviews
Research workshops and 8 user interviews
Research workshops and 8 user interviews
Research workshops and 8 user interviews
Research workshops and 8 user interviews
Value-led homepage with fees and rates up front
Value-led homepage with fees and rates up front
Value-led homepage with fees and rates up front
Value-led homepage with fees and rates up front
Value-led homepage with fees and rates up front
Reconfigured Terafina flow highlighting each account's benefits
Reconfigured Terafina flow highlighting each account's benefits
Reconfigured Terafina flow highlighting each account's benefits
Reconfigured Terafina flow highlighting each account's benefits
Reconfigured Terafina flow highlighting each account's benefits
Clear, friendly membership requirements before the flow begins speed approvals and reduce drop-off later on.
The results
The results
The results
The results
The results
More applicants finish opening accounts
More applicants finish opening accounts
More applicants finish opening accounts
More applicants finish opening accounts
More applicants finish opening accounts
Meriwest saw a 33% boost in new account opening conversions, and the marketing site and Terafina account opening flow now feel like one consistent experience.
Meriwest was also recognized as Best Credit Union by Mercury News.
They (Praxent) knew what they needed to do and streamlined everything for us. I would say that probably one of the standouts for me is that structure of, 'Here's what we do next.' And then they delivered.
