Inclusive Banking: Empowering customers with customizable name on card and ID verification
Introduction
This case study explores solutions of offering customizable names on credit cards during account opening and also the steps to mitigate risks, such as identity verification to revolutionize the banking industry. The objective is to create a more inclusive environment by addressing the challenges associated with traditional credit card naming practices.
Problem Statement
The problem with traditional credit card naming practices is that they often do not reflect the diverse identities of customers, leading to frustration, discomfort, and even harassment. Many LGBTQ+ and Transgenders, individuals with non-traditional names, and immigrants face challenges with legal name usage on credit cards. It is essential to recognize that this issue not only affects customers but also has the potential to lead to lost business opportunities and a decline in overall customer experience.
Risks
One potential risk is the possibility of increased fraudulent activity if users are allowed to customize their entire name on the credit card. Another risk could be potential legal issues if the credit card issuer cannot verify the user's identity due to a discrepancy between the name on the credit card and legal identification documents.
My Role
As the Principal Experience Designer, I led the design strategy and direction for implementing customizable names on credit cards and ID verification experience. I collaborated closely with a senior experience designer and cross-functional teams in technology and risk management to ensure a seamless and inclusive customer experience while addressing potential risks. My responsibilities included ideation, design development, and overseeing the integration of a third-party identity verification solution to enhance the post-MVP phase.
Building empathy through understanding
Gathered data from 500+ credit card holders who identify as LGBTQ+, Dual-Citizen or Non-Resident Alien.
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LGBTQ+ community
As an LGBTQ+ individual, I would feel empowered if credit card issuers allowed me to customize my credit card name to my preferred name. This simple change would greatly improve my credit card usage experience and reduce the risk of harassment or discrimination due to legal name usage.
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Individuals with Non-Traditional names
I understand the challenges of legal name usage on credit cards. Many others like me face the same difficulties and may feel frustrated and uncomfortable with the lack of customization options available. Offering customizable credit card names would greatly improve our credit card usage experience and make us feel more valued as customers.
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Immigrants
As an immigrant, I understand the challenges of using a preferred name or nickname on credit cards due to legal name usage requirements. Many immigrants like myself face similar difficulties, as our preferred names or nicknames may differ from our legal names.
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Newly married couples
As someone who recently got married and changed my last name, I understand the challenges of updating my credit card name. Many newly married couples face similar difficulties and may be frustrated with the long and tedious process of changing their legal name on all their accounts, including their credit card.
Key insights
I feel embarrassed and uncomfortable using my legal name on my credit card, which doesn't match my true identity.
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62%
of trans individuals have experienced harassment or discrimination when using a credit card due to their gender identity or expression.
CreditCards.com -
5%
of the US population identifies as LGBTQ+ (16 million people)
Survey by CreditCards.com -
50M
The immigrant population in the US. One-third of Asian and Hispanic adults in the U.S. have non-traditional names.
Migration Policy Institute -
44%
of individuals with non-traditional names have had difficulty obtaining credit due to name discrepancies.
National Foundation for Credit Counseling
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Discovery
In the discovery phase, I collaborated with research partners to execute a comprehensive survey involving our existing clients and tapped into third-party resources to gather valuable insights. Additionally, I took the initiative to organize and lead design-product workshops, providing a structured forum for discussions about short-term and long-term solutions to address the challenges we had identified.
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Collaboration
I worked with various teams, including Fraud, Legal, Marketing, Inclusive Design, and Content, to ensure that the solution not only communicated effectively to our customers. but also complied with regulations and best practices.
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Custom Name on Card
The solution is to allow credit card holders to customize the name on their card to their preferred name, without allowing them to change their last name for security purposes. Allowing only the first name or a shortened version of the full name to be customized can help mitigate this risk. This approach demonstrates the bank's commitment to diversity and inclusion and can improve customer loyalty and retention.
2% on Voice of Clients
Increased satisfaction rate during account opening in 3 months.
3% on Voice of Teammates
Increased contact center's satisfaction rate in 3 months.
Quick credit card approval, and the personalized card name adds a personal touch.
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ID Verification: Delivering better identity experience
In our version 2.0 phase, we recognized the need for a robust digital identity verification solution to ensure the security and authenticity of our customers. However, building an in-house application for this purpose could be costly and time-consuming. As a design lead, collaborating with a senior experience designer, and in close partnership with our product, tech, and risk teams, we launched on a journey to onboard a third-party application into our platform.
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Integration phase
We customized the identity verification flow based on our specific requirements while mitigating in-house development's high costs and complexities. This partnership was essential to ensure the security and authenticity of our customers' information.
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ADA Compliance
We identified several opportunities to significantly improve the accessibility, particularly for individuals with disabilities and those seeking better visibility of their account statuses.
- We optimized the app for screen reader users, ensuring that all visual elements and steps have descriptive text and that users can easily navigate the verification process.
- We implemented more visible and intuitive status updates throughout the ID verification journey. Users can now quickly understand where they are in the process and whether additional steps are required.
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User Testing
In collaboration with our research partners, we conducted 9 in-person usability sessions, ensuring a diverse mix of gender and generational representation. Here are the key findings:
- 7 out of 9 users expressed their appreciation of the ID verification process, with clear instructions that made it easy to follow.
- The last ID verification step typically took 10-15 seconds due to the final response and API call, so users suggested having a more visible progress indicator. We added a text notification cautioning users, 'Please don't refresh.' This was because some users were refreshing the browser while waiting for updates, which led to system errors.
Outcome
In conclusion, We extended the ID verification enhancement across all our products and lines of business, making this feature a core and strategic element of our banking system. By prioritizing user-centric design and innovation, we've improved our services and business KPIs and reinforced our commitment to exceptional banking experiences.
The app journey was smooth. Opening an account and going through the verification process was quick.
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5%
Increase in Retail App Booked rates in 3 months.
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8%
Reduced the volume of fraud flags during account opening.
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10%
Improved funnel conversion rates across the Retail banking applications.
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3%
Increased contact center's satisfaction rate in 3 months.