FeeX is a service launched in 2014 in Israel and the US to inform people about their high financial fees and give them tools to lower them.
I joined the company a month before launch. I moved fast to make small tweaks to the entire website so it would be more user friendly.
After the launch the serious work began, working in the agile methodology I worked on making incremental UX improvements as well as develop the product vision.
Although some ideas could and did come up even before launch, I wanted to re-affirm and gather new information from the users. Feedback emails and in person interviews were valuable means of accomplishing this goal
We needed to educate the market
The connection between high fees and future savings & pension plans is a hard one to make and the site was doing a poor job explaining it. The users needed to see numbers they could relate to, therefore we changed the messaging to reflect the monthly difference in the retirement sum with and without the lower fees.
Clarify the fees analysis & negotiation process
Many users were confused once signing up for the service. We weren't clear enough on what needed to be done to proceed, and the analysis they received was disorganized and missing a lot of important data. More guidance on what to do next and how to negotiate was also missing.
about 10% of users had privacy and security concerns. some did not want to give out personal details fearing they would be misused. Others just didn’t believe that this kind of service can be free and wanted to know what the “angle” was etc.
Change the messaging
Starting with the top header messaging and image. The first message the user sees is one that shows the difference between his monthly retirement sum when fees are high and one when fees are low.
Re-Think the Analysis page
The analysis page had to contain so much content that I decided to divide it into 4 tabs. The main tab would display the bottom line - "How much will I lose at retirement" with a big call to action button.
Friction free and actionable
In order for the first step to be as frictionless as possible, I suggested creating a simple template pre-populated with the user's personal fund details - now all they needed to do was press the "Send" button.
I created a schedule for email reminders that will be sent to users and guide them in the completion of this long negotiation process, as well as continuing to engage with the website by sending them tips and FeeX blog articles.
Using info we got from support requests and emails from customers detailing the questions and avoidance methods they encountered when talking with their insurers, I and the PM built a call scenario users could use while on the call.