For confidentiality reasons, this case study is provided upon request. However, you can find below a brief project overview, its impact, and my role.
To know more about this project, please reach out at naikh135@gmail.com.
ACAT
Automated Customer Account Transfer
Automated Customer Account Transfer (ACAT) is a standardized process used by Citi to transfer securities holdings and cash balances. It allows customers to seamlessly transfer their assets from one brokerage firm to another. ACAT streamlines the transfer process, ensuring accuracy and efficiency while minimizing disruptions for investors.
Overview
Project Background
Automated Customer Account Transfer (ACAT) at Citi is a streamlined process designed to facilitate the seamless transfer of securities and cash balances between brokerage accounts. The service ensures accuracy and efficiency, allowing customers to move their assets to Citi via an automated process as well as a manual process as a backup when the automated system is not viable.
In this project, the goal was to simplify the user experience by streamlining the process of searching for, selecting, and entering the number of securities users wished to transfer from their external accounts.
I led the effort to enhance this process, focusing on reducing user effort and improving overall usability.
Role
UX & UI Designer
Tasks
Competitive Research
Ideation
Wireframe
User Testing
High Fidelity Design
Team
Creative Director
Copywriter
Producer
Product Owner
Developers
The Challenge
The challenge was to redesign and streamline the manual transfer flow for ACAT. In the existing flow, users had to individually search for and select each security they wanted to transfer, then manually enter the number of shares for each one. This cumbersome process required repeating these steps for every single security, resulting in significant drop-offs, especially when users needed to transfer numerous securities. To address this, we focused on reducing user effort by creating a more efficient and streamlined selection process.
Outcome
We enhanced the manual ACAT flow by first requiring users to upload their external brokerage account statement. This preemptive step ensured that users had their PDF statements ready, making the subsequent search and selection process more efficient. At the search and select security step, we implemented a feature allowing users to select all desired securities at once, with the default transfer amount set to "ALL," meaning their entire holdings of each security would be transferred. This decision was driven by user data indicating that over 95% of users typically transferred all their securities.
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These improvements significantly reduced the time required to select securities and resulted in a 12% increase in the account transfer completion rate.
For confidentiality reasons, this case study is provided upon request.
To know more about this project, please reach out at naikh135@gmail.com.
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