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Improving Onboarding


Making An Impact

Wealthsimple is very well known in the Toronto startup community, most notably for their recent TV ad campaign and billboard ads which was plastered across the city. The faces of the characters in the ads became synonymous with Wealthsimple’s brand and the market they’re targeting.

We’re always on the hunt to find projects where we can make a major impact. We aim to take on projects where our expertise are put to the test, tackling large and complicated design problems. That’s why we were super excited when we were approached by Huda, head of product at Wealthsimple.

Our Research Process

We knew we had a very specific and targeted problem on our hands, one that would lend perfectly to a design sprint. The design sprint framework helped us structure our client onboarding through processes like “Ask the Experts” and “How Might We” notes.

This information enabled us to start sketching, prototyping, and ultimately testing with real Wealthsimple customers and those were interested in investing but didn’t have an account. The feedback led to valuable insights which led to some key iterations, and we were able to hone in on a solution we knew had potential.

Desktop Does Not Transfer to Mobile

On the desktop where you have lots of space to play with, you can sometimes get away with longer forms. People are likely at home, so they can go collect the required information and continue along. But on mobile, you’re dealing with a completely different set of constraints. People could hypothetically sign up anytime, anywhere, and have little or no prior investment knowledge or familiarity with the Wealthsimple brand.

People were signing up and funding their Wealthsimple account on the website at a pretty decent rate, hovering around 30-40% conversion. But when it came to mobile, less than 7% would sign up and fund their accounts. Yikes! So, what’s a startup to do?

Wealthsimple had to rethink how they onboard users on mobile. They would have to conduct an A/B test to isolate variables, and optimize for usability and experience.

The Moment of Truth

The new onboarding flow was personable from beginning to end, with a friendly tone and design. Form fields were now split up so that users only focused on one field per screen. We also made it easier for users to grasp the app’s core value proposition by building a cost and investment growth calculator directly into the onboarding flow.

We exceeded their goal, raising the conversion rate of sign-ups to funded customer accounts to over 39%+. We also increased conversion for other key parts of the onboarding experience, such as increasing the user registration rate from 30% to over 70%.

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