This case study is still a WIP

Background

How Capitalize Works (at the time)

Capitalize offers free rollovers and earns a commission from financial instituions. Capitalize only receives comission from partnered financial instituions. Capitalize will move money to any institution, but prefers if user select their partners.

Current State

• Previous tests did not improve selection rate and had a negative impact on conversion
• Stakeholders wanted a page with all institutions grouped in categories.

Goals & Requirements

• Increase monetized rollovers
• Reduce Drop-off
• Don’t negatively impact overall conversion

Process

1. Question Assumptions
2. Reduce Choices
   1. Jam Study (The Paradox of Choice) - If we reduce the number of choices a user has to make on this page, we will see higher conversion
   2. Grouping for slight comparison of types - Behavior design class
3. UserTesting
   1. “See Fidelity, pick Fidelity”
   2. Quick choices
4. A/B Testing

Outcomes

• 350%+ increase in preferred partner selection (!!!)
• No decrease in user experience or product satisfaction (no increase in customer complaints, survey and NPS responses did not change)

Next Steps

This was a great solution when we had only a few partners. As we partnered with more IRA companies, we needed a way to scale this concept (this case study is on the way next!)

• Timeline: Q2 2022
• Role: Lead Designer
• Team Composition: Product Manager, Engineer, CEO
• Company: Capitalize Money