Kiwi Wealth – Digital withdrawals

Online

UI & UX designer

Challenge
The brief here was to make it easier for our members to make withdrawals from their KiwiSaver accounts at/after the date of retirement. Previously the withdrawal process was paper based. For some it was a very involved process which left members waiting while checks were made and required high levels of involvement from our Customer Services team.

Approach
Once we outlined the existing service blueprint, we began to create a new view and digital journey making sure all areas of the business approved eg. Legal & AML and all interactions on either side of the “line of visibility” still worked seamlessly.

There were two releases:

MVP 1

• User > 65 years old
• Has already made one withdrawal paper based
• A withdrawal icon appears within KS Investment page and is clicked
• Has one or more bank accounts 
on system
• Can also add a new bank account

MVP 2

• User > 65 years old
• A withdrawal icon appears within KS Investment page and is clicked
 – may need to go through CDD
• We may/may not have an email address for them
• Has already made one withdrawal paper based OR never made a withdrawal
• Has 1 or more bank accounts on system
- Can add an additional bank account
• May need to go through CDD – 
 Dynamic landing page
• Has no bank accounts on system and needs to add a bank account for the first time
• Full/Partial withdrawal + GC/tax credit narrative modal/messaging
• Balance and eligible amount surfaced
• Address verification failed
• Security question needs answering

Outcome
The online journey not only made it easier for our members to gain access to their funds when they needed it the most but also reduced the incoming queries to our support teams. This was also at the time of the pandemic and pushing this forward made it much simpler for those who required their funds sooner than expected.