Redesigned acquisition funnel for an enterprise trading client; reducing drop-offs and ensuring AML/CTF compliance.
Redesigned acquisition funnel for an enterprise trading client; reducing drop-offs and ensuring AML/CTF compliance.
⚠️
Note
To respect client privacy and confidentiality, the user interface has been modified significantly, and other details have also been omitted from this case study.
⚠️
Note
To respect client privacy and confidentiality, the user interface has been modified significantly, and other details have also been omitted from this case study.
What’s the Problem?
Approached by our client ‘Trader’, we were told about a problem they are facing in an Asian domestic market with the third-party verifications provider they currently have under contract. ‘Trader’ expresses concerns over screening quality and insufficient expertise in ID documents with its current identity verification provider.
What’s the Problem?
Approached by our client ‘Trader’, we were told about a problem they are facing in an Asian domestic market with the third-party verifications provider they currently have under contract. ‘Trader’ expresses concerns over screening quality and insufficient expertise in ID documents with its current identity verification provider.
What’s the Problem?
Approached by our client ‘Trader’, we were told about a problem they are facing in an Asian domestic market with the third-party verifications provider they currently have under contract. ‘Trader’ expresses concerns over screening quality and insufficient expertise in ID documents with its current identity verification provider.
Goal
‘Trader’ requires a legally compliant KYC process to ensure that they and their partners meet onboarding regulations. Partnering with a vendor experienced in KYC standards will help improve compliance and support the onboarding of legitimate, high-quality traders.
Goal
‘Trader’ requires a legally compliant KYC process to ensure that they and their partners meet onboarding regulations. Partnering with a vendor experienced in KYC standards will help improve compliance and support the onboarding of legitimate, high-quality traders.
Goal
‘Trader’ requires a legally compliant KYC process to ensure that they and their partners meet onboarding regulations. Partnering with a vendor experienced in KYC standards will help improve compliance and support the onboarding of legitimate, high-quality traders.
The Current Experience
Current Experience
The previous KYC vendor provided an integrated solution that failed to perform as intended. It was unreliable, allowing users to create duplicate accounts and commit fraud, which left the client exposed to risk. More critically, the solution did not comply with updated AML/CTF regulations.
Current Experience
The previous KYC vendor provided an integrated solution that failed to perform as intended. It was unreliable, allowing users to create duplicate accounts and commit fraud, which left the client exposed to risk. More critically, the solution did not comply with updated AML/CTF regulations.
Current Experience
The previous KYC vendor provided an integrated solution that failed to perform as intended. It was unreliable, allowing users to create duplicate accounts and commit fraud, which left the client exposed to risk. More critically, the solution did not comply with updated AML/CTF regulations.
The only phase
In the first phase of work, the goal was not to redesign the user flow but simply to replace the existing vendor. At that time, "document verification" was the final step in a three-step onboarding process. The average time to complete verification was 3 minutes.
The only phase
In the first phase of work, the goal was not to redesign the user flow but simply to replace the existing vendor. At that time, "document verification" was the final step in a three-step onboarding process. The average time to complete verification was 3 minutes.
The only phase
In the first phase of work, the goal was not to redesign the user flow but simply to replace the existing vendor. At that time, "document verification" was the final step in a three-step onboarding process. The average time to complete verification was 3 minutes.
Existing Step
New Step
Benchmarks
Verification results were delivered instantly, and 36% of approved users made a first-time deposit (FTD) within 24 hours. Within 72 hours, nearly half of new registrations had made an FTD. These figures served as our benchmarks moving forward.
Benchmarks
Verification results were delivered instantly, and 36% of approved users made a first-time deposit (FTD) within 24 hours. Within 72 hours, nearly half of new registrations had made an FTD. These figures served as our benchmarks moving forward.
Benchmarks
Verification results were delivered instantly, and 36% of approved users made a first-time deposit (FTD) within 24 hours. Within 72 hours, nearly half of new registrations had made an FTD. These figures served as our benchmarks moving forward.
Solution
Key UX touch points I focused on included:
The handoff from the client’s registration flow to the third-party platform
Confirmation of KYC results returned to the client interface
UI updates to display pending KYC status within the trading platform
Email communications to inform users of their KYC results
Solution
Key UX touch points I focused on included:
The handoff from the client’s registration flow to the third-party platform
Confirmation of KYC results returned to the client interface
UI updates to display pending KYC status within the trading platform
Email communications to inform users of their KYC results
Solution
Key UX touch points I focused on included:
The handoff from the client’s registration flow to the third-party platform
Confirmation of KYC results returned to the client interface
UI updates to display pending KYC status within the trading platform
Email communications to inform users of their KYC results
Existing Step
New Step
Speedbump
One key challenge arose due to limitations on the new vendor’s side: the desktop launch experience. Although over 70% of registrations occurred on mobile, the remaining desktop user base was still too large to ignore.
The issue stemmed from poor image capture quality via desktop webcams, which lacked the OCR sophistication of smartphone cameras. The vendor recommended redirecting desktop users to complete verification on mobile devices instead.
Speedbump
One key challenge arose due to limitations on the new vendor’s side: the desktop launch experience. Although over 70% of registrations occurred on mobile, the remaining desktop user base was still too large to ignore.
The issue stemmed from poor image capture quality via desktop webcams, which lacked the OCR sophistication of smartphone cameras. The vendor recommended redirecting desktop users to complete verification on mobile devices instead.
Speedbump
One key challenge arose due to limitations on the new vendor’s side: the desktop launch experience. Although over 70% of registrations occurred on mobile, the remaining desktop user base was still too large to ignore.
The issue stemmed from poor image capture quality via desktop webcams, which lacked the OCR sophistication of smartphone cameras. The vendor recommended redirecting desktop users to complete verification on mobile devices instead.
To support this, we iterated on a new desktop handoff screen that included:
A clear explanation of why smartphone verification was preferred
A unique QR code to access the verification platform on mobile
An option to send the verification link to the user’s email for later access
A fallback option to continue on desktop (not recommended), for users without smartphone access
To support this, we iterated on a new desktop handoff screen that included:
A clear explanation of why smartphone verification was preferred
A unique QR code to access the verification platform on mobile
An option to send the verification link to the user’s email for later access
A fallback option to continue on desktop (not recommended), for users without smartphone access
To support this, we iterated on a new desktop handoff screen that included:
A clear explanation of why smartphone verification was preferred
A unique QR code to access the verification platform on mobile
An option to send the verification link to the user’s email for later access
A fallback option to continue on desktop (not recommended), for users without smartphone access
Launch point for desktop users into Mobile eKYC experience
Implementation Results
Integrating the new KYC provider significantly strengthened the platform’s defences against fraud. The registration-to-KYC flow remained smooth, and the client reported a marked reduction in duplicate accounts, fraudulent behaviour, and chargebacks from bonus abuse.
Implementation Results
Integrating the new KYC provider significantly strengthened the platform’s defences against fraud. The registration-to-KYC flow remained smooth, and the client reported a marked reduction in duplicate accounts, fraudulent behaviour, and chargebacks from bonus abuse.
Implementation Results
Integrating the new KYC provider significantly strengthened the platform’s defences against fraud. The registration-to-KYC flow remained smooth, and the client reported a marked reduction in duplicate accounts, fraudulent behaviour, and chargebacks from bonus abuse.
Implementing the new eKYC provider into the existing flow
Tradeoffs
The number of users depositing within 24 hours dropped to 29%, and the 72-hour deposit rate fell to 42%; a 16% decrease from previous benchmarks. Additionally, the average time to convert on the registration funnel increased to over 7 minutes, representing a 133% increase in completion time.
Tradeoffs
The number of users depositing within 24 hours dropped to 29%, and the 72-hour deposit rate fell to 42%; a 16% decrease from previous benchmarks. Additionally, the average time to convert on the registration funnel increased to over 7 minutes, representing a 133% increase in completion time.
Tradeoffs
The number of users depositing within 24 hours dropped to 29%, and the 72-hour deposit rate fell to 42%; a 16% decrease from previous benchmarks. Additionally, the average time to convert on the registration funnel increased to over 7 minutes, representing a 133% increase in completion time.
New Challenges
New Challenges
New Challenges
Problem Redefined
While the original registration flow had served the client well for some time, the switch to a more rigorous KYC provider introduced friction. The new vendor required users to upload front and back photos of their ID, a side profile shot to show its thickness, and a moving selfie to prove liveness. Compared to the previous provider (which only asked for a single photo) this was a significant jump in effort. As a result, registration times increased, and early user drop-offs became more common.
Problem Redefined
While the original registration flow had served the client well for some time, the switch to a more rigorous KYC provider introduced friction. The new vendor required users to upload front and back photos of their ID, a side profile shot to show its thickness, and a moving selfie to prove liveness. Compared to the previous provider (which only asked for a single photo) this was a significant jump in effort. As a result, registration times increased, and early user drop-offs became more common.
Problem Redefined
While the original registration flow had served the client well for some time, the switch to a more rigorous KYC provider introduced friction. The new vendor required users to upload front and back photos of their ID, a side profile shot to show its thickness, and a moving selfie to prove liveness. Compared to the previous provider (which only asked for a single photo) this was a significant jump in effort. As a result, registration times increased, and early user drop-offs became more common.
New Goal
The challenge was now clear: we needed to streamline the registration experience without compromising compliance. Our goal was to shorten time-to-register and improve early deposit rates (particularly within the first 24 hours after sign-up) while bringing these metrics back in line with pre-switch benchmarks, all without rolling back on security or KYC integrity.
New Goal
The challenge was now clear: we needed to streamline the registration experience without compromising compliance. Our goal was to shorten time-to-register and improve early deposit rates (particularly within the first 24 hours after sign-up) while bringing these metrics back in line with pre-switch benchmarks, all without rolling back on security or KYC integrity.
New Goal
The challenge was now clear: we needed to streamline the registration experience without compromising compliance. Our goal was to shorten time-to-register and improve early deposit rates (particularly within the first 24 hours after sign-up) while bringing these metrics back in line with pre-switch benchmarks, all without rolling back on security or KYC integrity.
Solution
While the primary focus was on streamlining the process, we also uncovered a few pain points in the existing flow that were worth addressing:
Too many input fields shown all at once, overwhelming new users
No email verification step, which affected account security and communication
Accounts were being created too late in the flow, making re-engagement harder
Outdated UI didn’t match the look and feel of the main trading platform
Solution
While the primary focus was on streamlining the process, we also uncovered a few pain points in the existing flow that were worth addressing:
Too many input fields shown all at once, overwhelming new users
No email verification step, which affected account security and communication
Accounts were being created too late in the flow, making re-engagement harder
Outdated UI didn’t match the look and feel of the main trading platform
Solution
While the primary focus was on streamlining the process, we also uncovered a few pain points in the existing flow that were worth addressing:
Too many input fields shown all at once, overwhelming new users
No email verification step, which affected account security and communication
Accounts were being created too late in the flow, making re-engagement harder
Outdated UI didn’t match the look and feel of the main trading platform
The original registration system was built as a single application made up of multiple “modules.” My hypothesis was that by restructuring or condensing these modules, we could reduce cognitive load and guide them through only the most essential actions at each step.
I proposed a phased rollout, with small, targeted changes backed by A/B testing to validate each improvement.
The original registration system was built as a single application made up of multiple “modules.” My hypothesis was that by restructuring or condensing these modules, we could reduce cognitive load and guide them through only the most essential actions at each step.
I proposed a phased rollout, with small, targeted changes backed by A/B testing to validate each improvement.
The original registration system was built as a single application made up of multiple “modules.” My hypothesis was that by restructuring or condensing these modules, we could reduce cognitive load and guide them through only the most essential actions at each step.
I proposed a phased rollout, with small, targeted changes backed by A/B testing to validate each improvement.
Email Verification
Email Verification
Email Verification
Phase 1
We started by adding a lightweight email verification step early in the flow. This offered several benefits:
It verified users' contact details before they got too far into the process
It gave the client a reliable communication channel for follow-ups
It allowed for targeted re-engagement if users dropped off
It let us gate account creation until after verification, reducing fake signups
While it added an extra step, it also laid the groundwork for a cleaner, more secure flow.
Phase 1
We started by adding a lightweight email verification step early in the flow. This offered several benefits:
It verified users' contact details before they got too far into the process
It gave the client a reliable communication channel for follow-ups
It allowed for targeted re-engagement if users dropped off
It let us gate account creation until after verification, reducing fake signups
While it added an extra step, it also laid the groundwork for a cleaner, more secure flow.
Phase 1
We started by adding a lightweight email verification step early in the flow. This offered several benefits:
It verified users' contact details before they got too far into the process
It gave the client a reliable communication channel for follow-ups
It allowed for targeted re-engagement if users dropped off
It let us gate account creation until after verification, reducing fake signups
While it added an extra step, it also laid the groundwork for a cleaner, more secure flow.
Adding Email Verification to the existing registration flow
What we learned
We released the update to a small group of users during a quiet 4-hour window on a Monday morning:
63 users saw the new email verification step
50 users (79%) verified successfully and moved on with registration
13 users had issues, but 11 of them eventually completed the process correctly
Only 2 users dropped off entirely
We also saw conversion rates climb to 60%, compared to 51% the day before and 41% the week before during the same time window. For a small test, these were strong signals.
What we learned
We released the update to a small group of users during a quiet 4-hour window on a Monday morning:
63 users saw the new email verification step
50 users (79%) verified successfully and moved on with registration
13 users had issues, but 11 of them eventually completed the process correctly
Only 2 users dropped off entirely
We also saw conversion rates climb to 60%, compared to 51% the day before and 41% the week before during the same time window. For a small test, these were strong signals.
What we learned
We released the update to a small group of users during a quiet 4-hour window on a Monday morning:
63 users saw the new email verification step
50 users (79%) verified successfully and moved on with registration
13 users had issues, but 11 of them eventually completed the process correctly
Only 2 users dropped off entirely
We also saw conversion rates climb to 60%, compared to 51% the day before and 41% the week before during the same time window. For a small test, these were strong signals.
Single-Field Signup
Single-Field Signup
Single-Field Signup
Phase 2
Next, we simplified the very first step. Previously, users were asked to enter six fields; multiple name formats (Symbolic and Phonetic), email, and password, just to get started. It was clunky, outdated, and a barrier to entry for users who were ready to trade fast.
We redesigned the landing experience to focus on just one thing: capturing and verifying an email address. Once verified, users would be taken to a cleaner registration UI that matched the trading platform’s evolving design system.
Phase 2
Next, we simplified the very first step. Previously, users were asked to enter six fields; multiple name formats (Symbolic and Phonetic), email, and password, just to get started. It was clunky, outdated, and a barrier to entry for users who were ready to trade fast.
We redesigned the landing experience to focus on just one thing: capturing and verifying an email address. Once verified, users would be taken to a cleaner registration UI that matched the trading platform’s evolving design system.
Phase 2
Next, we simplified the very first step. Previously, users were asked to enter six fields; multiple name formats (Symbolic and Phonetic), email, and password, just to get started. It was clunky, outdated, and a barrier to entry for users who were ready to trade fast.
We redesigned the landing experience to focus on just one thing: capturing and verifying an email address. Once verified, users would be taken to a cleaner registration UI that matched the trading platform’s evolving design system.
Brand New Step
Lightly Modified Step
Existing Step
Single field sign-up landing page and updating the UI
What we learned
We A/B tested this new experience against the existing flow:
82 users saw the new single-field signup
79 verified successfully
3 dropped off (no clear reason)
In the control group of 100 users:
89 verified successfully
11 encountered issues similar to those we saw earlier
The single-field signup had a 7% higher success rate; a modest but meaningful improvement, especially considering how early in the funnel this step occurred.
We also saw a small uptick past baseline for our FTD numbers as well. 24 hour FTD figures move up slightly to 37% but the significant increase was the 72 hour mark, which saw nearly 56% of users make a first time deposit.
What we learned
We A/B tested this new experience against the existing flow:
82 users saw the new single-field signup
79 verified successfully
3 dropped off (no clear reason)
In the control group of 100 users:
89 verified successfully
11 encountered issues similar to those we saw earlier
The single-field signup had a 7% higher success rate; a modest but meaningful improvement, especially considering how early in the funnel this step occurred.
We also saw a small uptick past baseline for our FTD numbers as well. 24 hour FTD figures move up slightly to 37% but the significant increase was the 72 hour mark, which saw nearly 56% of users make a first time deposit.
What we learned
We A/B tested this new experience against the existing flow:
82 users saw the new single-field signup
79 verified successfully
3 dropped off (no clear reason)
In the control group of 100 users:
89 verified successfully
11 encountered issues similar to those we saw earlier
The single-field signup had a 7% higher success rate; a modest but meaningful improvement, especially considering how early in the funnel this step occurred.
We also saw a small uptick past baseline for our FTD numbers as well. 24 hour FTD figures move up slightly to 37% but the significant increase was the 72 hour mark, which saw nearly 56% of users make a first time deposit.
Re-modularising the Registration Flow
Re-modularising the Registration Flow
Re-modularising the Registration Flow
Phase 3
In the final phase of the project, our goal was to break the registration journey into manageable parts, asking users only for the information they needed to provide at each step, when they needed to provide it. Instead of one long, linear process, we aimed to introduce natural pauses in the flow that better aligned with user intent and business priorities.
Phase 3
In the final phase of the project, our goal was to break the registration journey into manageable parts, asking users only for the information they needed to provide at each step, when they needed to provide it. Instead of one long, linear process, we aimed to introduce natural pauses in the flow that better aligned with user intent and business priorities.
Phase 3
In the final phase of the project, our goal was to break the registration journey into manageable parts, asking users only for the information they needed to provide at each step, when they needed to provide it. Instead of one long, linear process, we aimed to introduce natural pauses in the flow that better aligned with user intent and business priorities.
Client-first thinking
To determine the right structure, we worked backwards from the client's most important outcome: increasing trading volume. We reverse-mapped the steps needed to reach that goal:
Users must place trades to drive volume.
To trade, accounts must be funded.
To fund accounts, users must be verified.
Verification requires completing KYC with a trusted third-party provider.
KYC validation needs accurate, matching user info; government name, DOB, address.
Before all of this, users need a verified email and password to create an account.
From there, we distilled the process into three standalone modules:
Client-first thinking
To determine the right structure, we worked backwards from the client's most important outcome: increasing trading volume. We reverse-mapped the steps needed to reach that goal:
Users must place trades to drive volume.
To trade, accounts must be funded.
To fund accounts, users must be verified.
Verification requires completing KYC with a trusted third-party provider.
KYC validation needs accurate, matching user info; government name, DOB, address.
Before all of this, users need a verified email and password to create an account.
From there, we distilled the process into three standalone modules:
Client-first thinking
To determine the right structure, we worked backwards from the client's most important outcome: increasing trading volume. We reverse-mapped the steps needed to reach that goal:
Users must place trades to drive volume.
To trade, accounts must be funded.
To fund accounts, users must be verified.
Verification requires completing KYC with a trusted third-party provider.
KYC validation needs accurate, matching user info; government name, DOB, address.
Before all of this, users need a verified email and password to create an account.
From there, we distilled the process into three standalone modules:
Account Creation
A lightweight sign-up using just email and password, giving users early access to browse the platform.
KYC Verification
Personal and address details followed by ID upload and a liveness check via video selfie.
Deposit & Trade
Once verified, users are free to fund their accounts and begin trading (No change from previous experience, and out of scope)
Remodularising the flow to prevent drop-off
Benefits
Each module is now self-contained, offering clear entry and exit points. This means users can pause without losing progress and return when they’re ready; ultimately reducing drop-offs and making the experience feel less overwhelming.
Benefits
Each module is now self-contained, offering clear entry and exit points. This means users can pause without losing progress and return when they’re ready; ultimately reducing drop-offs and making the experience feel less overwhelming.
Benefits
Each module is now self-contained, offering clear entry and exit points. This means users can pause without losing progress and return when they’re ready; ultimately reducing drop-offs and making the experience feel less overwhelming.
Data
This phase has not yet been implemented, so there are no results to report at this time. However, the framework is in place and ready for future testing.
Data
This phase has not yet been implemented, so there are no results to report at this time. However, the framework is in place and ready for future testing.
Data
This phase has not yet been implemented, so there are no results to report at this time. However, the framework is in place and ready for future testing.
Final Thoughts
I've been working on this project for nearly two years, balancing it with phased releases and other client priorities. The experience has taught me a lot, especially about user behaviour, and it continues to offer valuable insights. It's also sharpened my business and marketing acumen, as I've seen firsthand the client's efforts to attract and retain customers. Phase 3 is still in development.
Final Thoughts
I've been working on this project for nearly two years, balancing it with phased releases and other client priorities. The experience has taught me a lot, especially about user behaviour, and it continues to offer valuable insights. It's also sharpened my business and marketing acumen, as I've seen firsthand the client's efforts to attract and retain customers. Phase 3 is still in development.
Final Thoughts
I've been working on this project for nearly two years, balancing it with phased releases and other client priorities. The experience has taught me a lot, especially about user behaviour, and it continues to offer valuable insights. It's also sharpened my business and marketing acumen, as I've seen firsthand the client's efforts to attract and retain customers. Phase 3 is still in development.
Hey I'm Pasindu.
🏃🏾♂️
🌶️
🏀
