First Rate, the UK’s largest provider of foreign exchange services and for many high street brands needed to improve and streamline their booking process.
We delivered a radically simplified process moving from 8 stages and six pages, to a single transactional page.
First Rate (part of the Bank of Ireland) needed to optimize their web and mobile offerings. They were losing transactions and revenue due to their extended purchase process. Customers were dropping out and shopping for the cheapest foreign currency.
The main objectives of the project were to:
• Improve the current order process funnel to increase the overall conversion rate to sale and reduce the current drop off rate.
• Integrate the same day currency order and collection concept in to the existing buying process.
• Develop the template for white label users, with and without the same day currency collection option.
• Develop a proposition that can be used across platforms on both mobile and tablet.
We ran a number of ideation workshops and delivered interactive prototypes based on UX best practice, testing the proposition with their target user base. This provided real insight in to customer behaviours and needs and shaped the final proposition for implementation of a streamlined purchase process.
Our recommendations and proposals for a revised booking process meant that the same proposition could be implemented across all digital platforms. This is having a radical impact on the method and speed that users are able to transact leading to significant improvements in conversion and ROI.