Chase Autosave
Help customers start and maintain a savings habit
I contributed to the redesign of the Autosave experience, simplifying the existing user flow and saving the business $3.6M in modernization costs.
My role
UX Designer, Design Strategy
Timeline
May 2023 - ongoing
Team
1 UX Designer, 1 Content Writer, 1 Researcher, 3 PMs
Platform
Native app (iOS, Android), web
Context
What is Autosave?
Launched in January 2019, Autosave helps Chase customers develop a savings habit by automating transfers from their internal Chase checking to internal Chase savings accounts.
In version 1, Autosave customers can setup goals and track against their progress and there are three rules live today: recurring, deposit-based, and daily.
Goals usage stats (Dec 2021)
11%
Safety net
11%
Custom goal
78%
General savings
Autosave rules stats (Dec 2021)
50%
On a schedule
45%
Deposit based
5%
On a daily basis
Over the past few years, Autosave has experienced a variety of issues…
Autosave and Pay & transfer have overlapping functionalities, which is the ability to enable recurring account transfers. Not only it is costly for the business, it also confuses the customer.
Autosave currently requires $3.6M to modernize, then $1M annual upkeep.
As a result, in Q1-Q2 2023. We start to leverage the Transfers backend and decommission the Autosave backend that exists today.
Pay & Transfer
Autosave v1 (2022)
Unsolicited feedback through Qualtrics and user research revealed usability and functionality issues with the tool:
Usability
“Doesn’t transfer when I expect”, “It doesn’t auto-pause based on my balance”, “Doesn’t work (general)”, “I didn’t set this up”
Control
“I can’t cancel”, “I want to view autosave amount separately”, “I want to turn off autosave on completed goals”, “I want to edit amounts and dates”
Understanding
“Teach me how to transfer”, “Help me understand service fees (transfers and low balance)"
Additionally…
Customers misunderstood that Pay & Transfer = Autosave, and that they expected their existing automatic money movement from checking to savings through Pay & Transfer to appear in Autosave.
Project Goal
What are we hoping to accomplish?
Our goal is to optimize the experience. We are going to do this by removing goals with low engagement and just keeping the general savings flow where we see higher engagement. We intend to further optimize the product by leveraging the Pay & Transfer team's recurring rules back end services to address our infrastructure. We believe that by removing low performing goals creation and focus our effort to making the recommended updates to make the general savings flow function properly we can drive higher engagement, build trust in the experience, and increase satisfaction.
How will this help users?
Our users will be able to regain trust in our experience
Our user will be able to set up their transfers and it will function as expected
Our users will get more control over their rule creation and get improved management experience
Our users will get an experience that is easier to understand and clarity on the value of savings via transfers
Timeline
Phase I (Sep - Dec 2023)
Remove custom goals and safety net (outcome: simplify general experience); Use Pay & Transfer technology and API (outcome: stabilize backend, save money for the business: $3.6M modernization and $1M yearly upkeep)
Phase II (Jan 2024)
Communication strategy (outcome: inform users about the new Autosave rollout and help customers avoid fees and interruptions)
Phase III (Mar 2024)
New Autosave rollout (outcome: easier experience, simplify the creation flow)
Phase IV (2024 and beyond)
Understand how people save within the context of spend; Understand the different mental models of how people want to save
What have I done so far?
Phase I (Sep 2023)
Remove Custom Goals and Safety Net
How might we give customers capability to simply set up and manage Autosave rules through Pay & Transfers and build trust?
The ability to create new Safety Net, Custom Goals and Daily transfers will be removed to minimize customer conversion impact and reduce the number of bankers with incentives impacts.
What customers will lose:
Existing rules and goals that have been created
Daily savings rule
Ability to create custom goals
Progress against goals
Immediate outcomes:
Simplify general experience and stabilize backend
Save $3.6M modernization, $1M yearly upkeep
General savings as the only transfer rule
Phase II (Jan 2024)
Communication Strategy
How might we communicate the upcoming Autosave changes to existing customers to avoid fees and interruptions?
We are providing notifications through different channels (in-app notifications; statement message; marketing emails) to communicate the upcoming changes to Autosave to the customers that are impacted.
Marketing emails
In-app notifications
Phase III (Mar 2024)
New Autosave Rollout
How might we help our customers meet their savings objectives with clear, user-friendly tools, and convenient money movement using recurring and deposit-based transfers?
Autosave has been causing several usability issues for our customers in addition to being costly for JPMC to maintain. It has also been identified that the Pay & Transfers product has a very similar experience to automate money movement, and we believe it would be beneficial to the business and customers to leverage this technology. The plan is to utilize the payments services and create a modified Autosave UI experience to support recurring and deposit rules.
Key customer problems to solve:
As a customer I want an experience that is easy and automated and allows me to build a savings cushion over time.
As a customer who created a savings goal by using a recurring money movement to build up savings, I want to have an easy way to stop, pause or manage those money movements to allow it to flex with my current finances.