Bank of America
Introducing a new feature for the popular banking app: a comprehensive transaction history.
Roles
User Experience Designer (UX)
User Interface Designer (UI)
Deliverables
Competitive analysis
User Interviews
Affinity Map
User Flow
Tools
Figma
Maze
Background
Bank of America is one of the largest and most well-known financial institutions in the United States. Notably, Bank of America provides a convenient transaction tracking and history feature through its online banking platform and mobile app. This feature enables users to conveniently track and view the history of various transactions.
Problem
Bank of America's transaction tracking and history feature needs improvement based on user feedback. Users expressed difficulty with finding the transactions, and a desire for a more visual display, and enhanced functionality for tax-related tasks and other purposes.
Project Objectives
Prioritize adding a robust transaction history feature to enhance user experience on Bank of America's banking app. This will address user concerns about transaction miscategorization, improve visual display, and streamline record-keeping like tax-related and other purposes.
Competitive Analysis
To gain valuable insights into the market and evaluate the strengths and weaknesses of both existing and potential competitors, a comprehensive competitive analysis was conducted. This analysis focused on online banking apps and their transaction history feature, providing a thorough assessment of different platforms in the industry.
Pros:
Comprehensive details for each transaction.
User-friendly design making intuitive for users to navigate and understand.
Customization options allowing users to personalize based on needs.
Cons:
Limitations on the amount of historical transaction data accessible through the app.
Issues with automatic categorization for transactions.
App interface might be complex or overwhelming for some users.
User Flows
Pros:
Detailed transaction information, including merchant details, location, and date/time.
Transactions can be categorized.
Have the ability to download or export transaction history.
Cons:
Cards may not be accepted as widely which could limit the number of captured transactions.
There could be instances where transactions information take time to appear.
Certain cards may have annual fees.
Pros:
Incorporates security feature to ensure the privacy and protection of users’ transaction history.
Offers filter options for transactions.
Allows users to customize their transaction history view.
Cons:
Even with the customization there might be limitations on duration of historical transaction data.
Navigation within the transaction is can be complex leading to difficulties.
Pros:
Strong security measures to ensure confidentiality and safety of users transaction data.
Search and filter capabilities for quick results.
User-friendly mobile banking interface.
Transaction history feature integrated with other banking features.
Cons:
Delayed transaction updates causing discrepancies between real time spending and information reflected on the transactions.
Mobile app issues with performance & responsiveness.
User Interviews
In order to gain a comprehensive understanding of the user experience with banking institutions, I conducted interviews with six individuals who frequently use banking apps.
Key Quotes
“I don’t like how some transactions are miscategorized. For example, if I cover the bill for dinner with friends and they Venmo me the money, her bank doesn’t take that into account.”
“A better display of payment transactions. Instead of having a list to scroll through something more visual.”
“As an independent contractor, I sometimes need to remember to write down a payment that I can write off on my taxes. A transaction history would save a lot of time having to search through the records of each month at the end of the year.”
Affinity Mapping
To organize and streamline the information gathered from user research, I used an affinity map. This included interview notes and observations. By doing this, I was able to identify recurring patterns and user frustrations. This information was then used to help develop the transaction history feature for the app.
I've revamped the Bank of America app's user flows based on the feedback from user interviews. Now, users can now effortlessly find transactions using the search bar, enjoy a visually enhanced exploration, and apply filters for tailored experiences with tax-related transactions.
Tracking payment history/ Monitor Expenses
Low-Fidelity Wireframes
I used Bank of America's UI to draft sketches for a new feature. My sketches aimed to prioritize transaction efficiency and personalize users' experience.
Feature the "Transaction History" section prominently on the Bank of America app home screen, ensuring users easily discover and access their transactions.
Streamline transactions with fewer clicks and clear progress indicators for an enhanced visual experience.
Enable users to monitor and manage transactions efficiently with a user-friendly filter, catering to their tax-related needs.
High-Fidelity Wireframes
I reviewed the low-fidelity sketches and made some changes to the section that displays existing account information. To improve visibility, I added an icon section for the Bank of America life plan, my rewards, and the new transaction history icon to be found clearly on the home screen. This will make it easier for users to locate and browse their transactions with clarity, resulting in an optimized transaction search process. I also streamlined the search function by adding four filters: amount range, category, date, and payment method. This will make the process more efficient for users.
Low-Fidelity Wireframes
High-Fidelity Wireframes
Usability Test and Findings
Usability Testing
Overview:
Tests were conducted unmoderated with a total of six participants, two of whom were from my initial user interview.
Tasks:
Task #1: Navigate through the transaction history within the app and find the details of a specific transaction.
Task #2: Use the search filter to find the Casper sleep transaction in the banking app.
Key Results
The transaction history was easy to locate on the home screen.
5/5 users navigated through the first task because the feature's placement was easily identifiable and labeled clearly.
The second task was 50% successful with most of the users overlooking the filter CTA and instead using the regular search bar to locate the transaction.
3/5 of them found the search function.
2/5 of the users didn’t use the search by the filter option because they didn’t see it.
Key Quotes
“I would put a separate transaction history under each account. So there'd be one for the checking account and one for the savings account. Maybe there is and I didn't notice.”
“I think often some transactions don’t have exact name matches. You’ll buy a product but the actual name of the transaction is different than you expect it to be. For example, Casper might have shown up under a parent company name I’m unfamiliar with. In this case, the search function may not help as much.”
Iterations
Since some of the users didn’t find or engage with the search by the filter option, it became essential to refine and enhance the filter transaction to ensure its clarity and ease of accessibility.
Final Prototype
Takeaways
During the process of adding a new feature to an existing app, it became clear how important it is to let research guide decision-making. The new feature will now allow users to view a detailed record of their past payments and expenses, which will improve their financial tracking abilities and allow them to make more informed decisions.
In addition, having access to financial documents within the app will simplify tasks such as tax preparation and expense reimbursement. Overall, the transaction history feature will enhance user engagement and satisfaction, making the app an essential tool for effective financial management.
Future Steps to Consider:
It may be beneficial to consider adding an account selection for the transactions if the user has multiple accounts within the banking app. Incorporating features like expense analysis, which offers detailed analytics on spending patterns and trends over time. Additionally, the inclusion of customizable alerts would empower users to set custom alerts for account activity, low balances, or specific transactions. This account selection feature would allow users with multiple accounts to easily access relevant transaction records by selecting the account they want to view from the transaction history section.
Theme #1: Improving transaction visibility .
Theme #2: Streamlining tracking through a more visually intuitive display.
Theme #3: Streamlining transaction tracking for enhanced functionality in tax-related tasks and beyond.