Monzo is a UK app backed by a bank and they want to change the way the world does banking. Their goal is to make finance fun and accessible to help users manage their money better.
The app vastly improves the UI of typical banking statements with color coding and auto-categorization. Users can set up savings targets easily and keep track of them as the month goes on. And lost bank cards can be frozen in an instant for immediate peace of mind and security. The benefits go on.
But in order to let someone manage your money, you need to trust them. And people tend to approach the faceless digital world of apps with extreme caution. So this makes user acquisition tougher than normal. Yet Monzo responds to this user vigilance intelligently with a professional, fast, and friendly onboarding flow.
Why this is really good UX:
- Existing customers can give their friends a “golden ticket,” which acts as a queue jump for immediate access. The process of "refer a friend" helps Monzo gain immediate credibility and integrity through word of mouth. And because golden tickets are scarce—each user only has one to give—it prompts and persuades the invitee to make the most of the offer.
- The copy is vital in Monzo's sign-up flow. Each step anticipates the user's frame of mind and the copy responds with clear, concise, and reassuring words. This provides a friendly, helping hand throughout the flow.
- Icons are effectively used to set the tone of the experience and communicate meaning. The icons are visually pleasing, help traverse languages barriers, and can be understood in an instant.
- At the potential problem steps of the “Photo ID” and “Take a selfie,” Monzo provides extra support with visual demonstrations to explain what is being asked of the user. This ensures the user does not feel abandoned at the trickier points of the flow.