Physical and virtual cards as a growth strategy for Lemfi.
My Role
Lead UX & UI Design
Research and Analysis
Visual Design
Credit
Afeez Ajigbotosho, Product Head
Mirela Oviatt, Card Lead
Dimeji Ezekiel, Illustrations
Year
2022
Challenges
Lemfi' customers inability to enjoy an end-to-end cross-border banking experience between their home and country of residence reflects the failure within our system that needs to be fixed.
Designing card feature as a service to provide our customers with better ways to utilise their money. Allowing the users to access their money from their balance with a debit card.
Approach
Collaborated with key partners and stakeholders to define the issuance strategy, activation, usage, and management criteria for Lemfi’s debit cards. Worked closely with stakeholders to understand business challenges and gathered technical requirements, establishing what is necessary for customers to own a debit card. Conducted industry benchmarking to gain insights into consumer behaviors and market standards.
From strategy, to the implementation, to the optimization
Strategy of the cards
- Definition of the payment strategy
- Definition of the IT infrastructure
- Formalization of the Business Case
- Defining where to start
Operational efficiency
- Organization of flows and usage streams
- Analysis of the risks, the fraud and the cyber resilience
- Management of the feature and the partners
- Support for card issues
Optimization of the service
- Improvement of the user experience
- Economic and profitability assessments
- IT infrastructure and processes audit
- Complying with the regulatory directives
Guiding principle to designing the card feature
It is paramount to prioritize the activation stage. A streamlined and seamless activation process should be designed to encourage immediate action upon learning about the card. Subsequently, a well-structured onboarding plan must be in place to ensure continued engagement and usage.
"Debit cards have become an essential tool for managing finances and everyday purchases. As cashless transactions continue to rise, it’s crucial to provide solutions that simplify daily transactions for our customers."
Afeez Ajigbotosho - Head of Product
Creating a Beautiful and Vibrant Physical Card
First impressions matter, especially with technology. A visually appealing design can instantly elevate the user experience, while a poor design can deter engagement before users explore the product’s features. I collaborated closely with our visual designer to craft the card’s aesthetic, ensuring it reflects the vibrant and engaging experience we aim to deliver.
The Challenge of Personalization
When implemented correctly, personalization can boost satisfaction and motivation to use the card by up to 40%. Unlocking consumers’ selective attention through tailored experiences is crucial. While personalization offers significant business benefits, we opted for a minimal approach in the first sprint to move swiftly, considering the heavy workload already on the development team.
Minimal, blend and simple to use interface
Designed a minimal, blended, and simple-to-use interface for the debit card, recognizing the subtle yet significant impact of design on consumer spending habits. By focusing on empowering customers to manage their finances effectively, I ensured the card design leaves room for personalization, helping users feel more confident when using their cards.
Conclusion
The card feature empowers Lemonade Finance to serve customers with diverse needs, aligning with the company’s mission to support those historically underserved by traditional banking systems abroad, particularly in new regions. This feature helps customers build a healthier financial future, send money home, and access their funds using the card as leverage.
Let’s discuss your next project.
Location
Berlin, Germany
Ismail Ahmad (c) 2024
