Term Deposit Online Application

Company: Judo Bank
Year: 2023
Role: Experience Design Lead

All information in this case study is my own and does not reflect the views of Judo Bank.
Judo Term Deposit Hero Image

Boosting Conversion Through Better Design: A Case Study for Judo Bank’s Term Deposit Experience

  • Role: Experience Design Lead
  • Company: Judo Bank
  • Product: Digital SME banking platform
  • Timeframe: 2022 – 2024

Setting the scene

Judo Bank is Australia's newest bank that specialises in small to medium (SME) business lending and Online Term Deposits.

My role

In this role, I used a wide range of Product Design skills—from user testing and discovery, to UX/UI design and delivery support.

Key activities:

  • Design leadership and hands-on product design
  • Stakeholder engagement
  • Customer research and validation
  • Copywriting
  • Creative concepting
  • UI/UX design
  • Wireframing and rapid prototyping
  • Supporting delivery

The challenge

Improve the volume of Online Term Deposit applications by strategically focusing on the awareness and consideration stages of the customer journey.

Our approach

  • Run discovery to understand customer needs, pain points, thoughts, and feelings
  • Synthesise insights into a concise design brief
  • Explore design opportunities through iterative testing
  • Execute the highest performing concept
Research Focus

Customer research

Research questions:

  • What are the needs of term deposit customers in the awareness and consideration stages?
  • What activities are customers undertaking during these stages?
  • What influences their choice of bank and decision to apply?
  • Which marketing channels are effective, and how can Judo improve communication?

We also tested Judo’s current Term Deposit product page to understand user perception.

Customer needs

  • Fast and easy to apply
  • High interest rate
  • Safe and secure
  • Unique features like monthly interest payments and loyalty bonus

Design brief

We synthesised insights into a clear design brief to guide ideation and align with stakeholders.

Design Brief

Design Brief.

Early concepts

We tested early variations on how to present key content addressing user needs.

Hero Rate Testing

Hero rates tested best with users. Price was a key factor in their decisions.

Design Goals

We evolved the concept while continuously aligning with our design goals.

Concept testing: before and after

We ran A/B surveys to compare the original and redesigned experiences. Each user viewed both versions and answered five questions.

Survey questions:

  • How do you perceive Judo Bank's interest rates?
  • How do you perceive the safety and security?
  • What features and benefits stand out?
  • How much effort does the application process seem to take?
  • What’s your overall impression of the product page?
Concept Testing Result

The new concept rated 14% higher overall compared to the original.

Refined Concept

We continued refining based on small tests, especially around copy and the layout of the rates table.

The outcome

A month-long multivariate test showed that the redesigned experience converted 10% more visits into applications.