Problem
When the war in Ukraine started in 2022, banks officially stopped selling foreign currency, dollars and euros. Half a year later, a law was passed, according to which it was allowed to officially buy foreign currency from a bank, online, through a 3-month deposit. As soon as this law was passed, our team quickly developed a new flow for making a deposit with currency exchange based on existing deposits.
Hypothesis
In order not to lose users who are used to buying currency in the Currency Exchange section, redirect them through the dialog box to the Deposits section, informing them that now the purchase of currency is available only through a 3-month deposit. In the deposits section, make a deposit with currency exchange on the 1st place so that the user immediately notices it and does not lose it in the general list.
Decision
Redirect users from the process of buying currency to the process of opening a deposit
for 3 months with currency exchange.
Simplify the deposit opening flow, remove a separate screen for selecting an account
for withdrawal. Just make a pre-filled block where the main account with money is already automatically placed on the main account. The user does not need to choose the account himself, because we have already done it for him. Of course, if necessary, he can change the account to any available one.
Results
• the amount of open deals since the start, from 09/15/2023 to 03/31/2024, $242,200,000;
• total percentage of % retention of deals for the entire period is 16%, i.e. $242.2 million was executed, now the portfolio is $38.8 million;
• 78% of users who previously bought currency online started buying currency
through a deposit for 3 months;
• 93% of users bought currency through a deposit for 3 months and immediately
withdrew it after the end of the year;
• 3% of users bought currency through a deposit for 6 months or more.
