Simple Finance Account Migration

Work – Simple Finance

Account migration

Simple uses a partner bank to provide banking infrastructure and handle backend banking services. Since Simple was acquired by BBVA Compass in 2014, this meant we would eventully use them as our partner bank. To do so would require migrating all customer accounts from the previous partner bank, Bancorp, to them before Simple's contract with Bancorp expired in 2017. I led design for this initiative

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Challenges of migrating accounts

In theory, migrating accounts might seem like something that only needs to happen in the background. However, as part of this effort, we needed to issue customers new bank account and routing numbers and new debit cards. This meant that their old ones would be deactivated and they would need to update things like bills, subscriptions, and direct deposit with their new info. This also introduced issues around timing as customers would have to wait for their cards to arrive in the mail and for their direct deposit to update. These vary heavily per customer.

To address these issues, and knowing the experience would need to span multiple sessions, we made sure to provide customers with as much clarity as possible. This included being up front with dates, setting clear expectations, and always letting customers know where they were in the overall flow.

The first thing customers were asked to do was order their new card. We needed to get these in the mail as quick as possible. Once ordered, customers were directed away from the flow and back to their account. We kept them up to date on when their card would be arriving, and made it explicit that they needed it to move forward.

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Direct deposit

Once customers received their new card, we allowed them to move forward to update their direct deposit. We phased the experience in such a way because we didnt want to risk customers moving their source of income and/or funds to BBVA Compass before they had their new card to use. This would have left them with no way to use their money.

We also wanted to ensure that customers updated their direct deposit in unison with activating their card. So, once the new deposit hit their new account/routing numbers, they would then be given access to activating their new card. Similar to the previous step, once customers generated their direct deposit form, they were directed back to their account and would wait to move forward until our system recognized the new direct deposit hit their acount.

The biggest challenge with this portion of the experience was that it was all up to the customer to give the new form to their employer. Also, direct deposit wait times varied heavily depending on the system their employer used.

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Almost there

Once our system noticed a customer's direct deposit hit their new account/routing numbers, we notified them immediately. This would give them access to the last portion of the flow, which required accpeting some legal docs and ultimately activating their new card. Our aim was to be as transparent as possible around what would occur upon accepting the legal docs.

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Activating the new card

Once the legal documentation was agreed to, all customers needed to do to finish moving accounts was activate their new card. Once complete, all of their info would appear in their account as normal. The only thing left for them to do was to update any bills with their new card or account numbers.

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