Background: Equitable Bank, founded in 1970 and known as Canada’s seventh largest bank, specializes in residential and commercial real estate lending, as well as personal banking through its digital arm, EQ Bank. With over $31 billion in deposits and $111 billion in assets, Equitable Bank offers a range of financial solutions from its headquarters in Toronto and regional offices across Canada.
Projects:
Online Renewals Portal;
Broker's Onboarding Experience;
Reverse Mortgage Calculator;
Reverse Mortgage Landing Page;
While interest rates and fees can't be controlled, improving the user experience in the renewal process was identified as an area that affects overall satisfaction.
Although 47% of customers signed documents digitally, only 24% completed the process through the portal.
This discrepancy suggests a potential user experience challenge.
The aim of this user research is to investigate and understand the factors contributing to the underutilization of MyEquitable for online renewals among qualified customers.
1. Understanding the problem
I collaborated with team members from product departments, underwriters, and mortgage specialists, to understand the current experience. I also collected data from surveys on renewal satisfaction (renewed vs. non-renewed). This helped me outline a research strategy and identify key assumptions.
2. Evaluating the current state
From there, I pulled the drop off rates and times on pages for the funnel, conducted a competitive analysis to understand the space, and conducted a heuristic evaluation. These helped form a baseline of assumptions to base the design of the test plan.
3. Test & Test
I conducted usability tests on the current state to identify key areas of improvement. This was shared with stakeholders where I conducted a discovery & empathy workshop with the goal of getting buy-in and understanding feasibility before redesigning. Once aligned, I redesigned the application and conducted a final usability test to compare the experience.
View current state prototype ↗
View improved state prototype ↗
1. Recruitment Sample Challenges
Changing the research approach because of limited sample size during user testing taught me the importance of being adaptable. Although we aimed to involve both Existing Qualified Buyers (EQB) and non-EQB customers initially, the small sample size made us rethink our strategy.
2. Recruitment Knowledge Discrepancies
Discovering that some participants misrepresented information or lacked knowledge due to financial motivations in user testing emphasized the need for stronger screening processes and more empathetic engagement. It also showed how helpful internal research panels can be, especially for very specific or niche topics.
3. Advocating for CX & UX
As the only customer and user experience professional in the department, I worked on a vital skill—articulating information that champions outstanding customer experiences. Juggling between ensuring top-notch CX (Customer Experience) and accounting for the business side became a central priority.