Highlights:
- Prioritising most risky parts of implementation led to timely delivery
- Constant seeking for feedback led to fast sign off process by Stakeholders
- Tracking of the implemented process led to improvements in completion rates of 7 percentage points since the launch of the process.
Overview
I led an implementation of Liquid eKYC process for Users of forex.com in Japan. Liquid is a document verification, third party tool, which have been implemented in forex.com in order to improve rate of activated Users as well as comply with newly introduced Japanese law,
Business Challenge
- Regulatory Compliance: Meet new Japanese regulatory requirements for customer verification
- User Experience: Maintain high activation rates despite additional verification steps
- Technical Integration: Seamlessly integrate third-party verification with existing systems
My role & responsibilities
I was responsible for implementation of Liquid in the MyAccount, which included:
- Overseeing the process of designing UX flow.
MyAccount is client facing, so UX flow is crucial to ensure high completion rates of the process. During the discovery phase I examined similar solutions provided by the competitors as well as forex.com User’s feedback. Key discoveries were that Users expect clear path, with step by step instructions, easy language and feedback about the progress of the process. The outcome was semi-automated process with dynamically changed steps of the process depending on User’s choices, nationality etc. Additionally, there were implemented banners to communicate the progress of the process to the User.
- API integration
1) MyAccount is communicating with Liquid directly as well as with internal systems, such as risk assessment system. One of the key challenges was to ensure seamless communication with these systems. Integration with Liquid was challenging because there were sent parameters about documents chosen by the User, so we had to be very precise with requirements of what payload we need to send.
2) Communication with risk assessment tool on the other hand was crucial for the progress notification - a key feature of the process created based on the User’s feedback. Agreeing on the requirements required making sure a lot of Teams are aligned and I took a lead to ensure that.
- Creating and grooming the backlog
I led the process of backlog creation and grooming. I prioritised User Stories and discussed them with the Development Team. One of the key achievements in the process of prioritisation was to focus on mitigating the risk. With the Team, we detected the most risky parts of the implementation, separated them and worked on them first. The gave us a bigger margin for errors.
- Planning delivery dates
As this was a regulatory project, the deadlines were strict. Main techniques used to ensure timely delivery were User Stories estimation, handling most risky parts of implementation first and seeking constant feedback from Stakeholders.
Results
Process is tracked heavily in Content Square for both screen recordings and journey analysis which enables tweaking the conversion rate. So far with discovered and fixed friction points we achieved improvement of 7 percentage points since the launch of the process.