SoFi Rewards
Existing credit card rewards programs lack innovative redemption options, often limiting customers to cash back or travel perks. In connection with the launch of a credit card, SoFi Rewards is a new kind of loyalty program that allows users to redeem points for cryptocurrency.
SoFi Rewards
Existing credit card rewards programs lack innovative redemption options, often limiting customers to cash back or travel perks. In connection with the launch of a credit card, SoFi Rewards is a new kind of loyalty program that allows users to redeem points for cryptocurrency.
SoFi Rewards
Existing credit card rewards programs lack innovative redemption options, often limiting customers to cash back or travel perks. In connection with the launch of a credit card, SoFi Rewards is a new kind of loyalty program that allows users to redeem points for cryptocurrency.
Company
SoFi
Platforms
Mobile
Year
2020
Overview
SoFi has a large ecosystem of financial products, including cash management, investing, and lending accounts. As plans for a credit card product were being formalized, I led the design for the rewards system that became a first-to-market crypto rewards program.
Overview
SoFi has a large ecosystem of financial products, including cash management, investing, and lending accounts. As plans for a credit card product were being formalized, I led the design for the rewards system that became a first-to-market crypto rewards program.
Overview
SoFi has a large ecosystem of financial products, including cash management, investing, and lending accounts. As plans for a credit card product were being formalized, I led the design for the rewards system that became a first-to-market crypto rewards program.
Goal
Offer users innovative credit card perks, and help connect SoFi products by allowing redemption into cash, payment towards a credit card balance, and investment into fractional shares or cryptocurrency.
Goal
Offer users innovative credit card perks, and help connect SoFi products by allowing redemption into cash, payment towards a credit card balance, and investment into fractional shares or cryptocurrency.
Goal
Offer users innovative credit card perks, and help connect SoFi products by allowing redemption into cash, payment towards a credit card balance, and investment into fractional shares or cryptocurrency.
Launch plan
Under a tight timeline, the plan was to launch rewards as an MVP and use as many existing patterns and code as possible. The first roll-out was intentionally bare bones, with priority given to the backend connecting to each product so redemptions functioned as expected.
Launch plan
Under a tight timeline, the plan was to launch rewards as an MVP and use as many existing patterns and code as possible. The first roll-out was intentionally bare bones, with priority given to the backend connecting to each product so redemptions functioned as expected.
Launch plan
Under a tight timeline, the plan was to launch rewards as an MVP and use as many existing patterns and code as possible. The first roll-out was intentionally bare bones, with priority given to the backend connecting to each product so redemptions functioned as expected.
Discover
Showcase the unique ways to earn points when using the app, products, or completing tasks.
Market
Highlight redemption options into any product, including redeeming into fractional shares and crypto.
Track
Surface a dynamic transaction history that tracks all points, both earned and redeemed.
Redeeming points
Redeeming points
With the backend successfully connected, we launched with the ability to redeem points into any account a user has open.
With the backend successfully connected, we launched with the ability to redeem points into any account a user has open.
Crypto redemption
Crypto redemption
I collaborated with engineers on two teams to help bridge where Rewards flows would need to deep-link to and from existing Invest team pages in order to select and redeem points to crypto.
I collaborated with engineers on two teams to help bridge where Rewards flows would need to deep-link to and from existing Invest team pages in order to select and redeem points to crypto.
Dashboard details
Since leaving SoFi, I have continued to use this program as a consumer. Here are some north star designs and updates I would consider if I was still working on this project.
Dashboard details
Since leaving SoFi, I have continued to use this program as a consumer. Here are some north star designs and updates I would consider if I was still working on this project.
Dashboard details
Since leaving SoFi, I have continued to use this program as a consumer. Here are some north star designs and updates I would consider if I was still working on this project.
Current
In general, the original dashboard is crowded with too many CTAs, and no clear hierarchy of their importance. The hierarchy of the typography is also unbalanced, especially the lifetime values.
The original dashboard was crowded with too many CTAs, without a clear hierarchy of their importance. The hierarchy of the typography is also unbalanced, especially the lifetime values.
Recommendation
By moving the terms, settings, and help functions to an overflow menu, this simplifies the page to what matters most – the number of points available, redeem points CTA, and activity history.
Earning details
The 'How to earn' page was simple, and did the job at the time it was needed to go live. To iterate on this, I would focus on making this page more interactive, informative, and overall, more engaging.
Earning details
The 'How to earn' page was simple, and did the job at the time it was needed to go live. To iterate on this, I would focus on making this page more interactive, informative, and overall, more engaging.
Earning details
The 'How to earn' page was simple, and did the job at the time it was needed to go live. To iterate on this, I would focus on making this page more interactive, informative, and overall, more engaging.
Before
While this page covers requirements, it is mostly a static page, apart from the icon changing to a checkmark for a completed task. Because there isn't a way to go directly to the start of any of the tasks, there is a lot of cognitive load for the user to determine where to start the tasks in order to earn points.
While this page is informational, it is mostly a static page apart from the task icon changing to a checkmark for a completed task. Because there isn't a way to go directly to the start of any of the tasks, there is a lot of cognitive load for the user to determine where to start some of the tasks in order to earn points.
While this page is informational, it is mostly a static page apart from the task icon changing to a checkmark for a completed task. Because there isn't a way to go directly to the start of any of the tasks, there is a lot of cognitive load for the user to determine where to start some of the tasks in order to earn points.
After
To solve the original issues, I opted for cards that open as a sheet to a) provide more information about each task and b) as an entry point to either trigger the task, or go directly to the starting point. Affordances for an earned task are more clear, and indicate which tasks are on a recurring earn schedule.
To update, I opted for cards that open as a sheet to a) provide more information about each tasks and b) as an entry point to either trigger the task, or go directly to the tasks page. Affordances for an earned task are more clear, and indicate which tasks are on a recurring earning schedule.
To update, I opted for cards that open as a sheet to a) provide more information about each tasks and b) as an entry point to either trigger the task, or go directly to the tasks page. Affordances for an earned task are more clear, and indicate which tasks are on a recurring earning schedule.
Redemption details
Design decisions for redeeming points were originally based on existing system level pages for depositing, buying shares, and transferring money throughout the app. It does the job, and is simple and clear from a UX perspective. As always, small tweaks can have a big impact.
Redemption details
Design decisions for redeeming points were originally based on existing system level pages for depositing, buying shares, and transferring money throughout the app. It does the job, and is simple and clear from a UX perspective. As always, small tweaks can have a big impact.
Redemption details
Design decisions for redeeming points were originally based on existing system level pages for depositing, buying shares, and transferring money throughout the app. It does the job, and is simple and clear from a UX perspective. As always, small tweaks can have a big impact.
Before
The main issue with this page is the language isn't clear for which account points are being redeemed into.
After
By using clear language for redemption type and account, users can better focus on how many points they would like to redeem.
By the numbers
After launching in Q1 of 2021, we saw engagement grow week over week, with feedback from users asking for more ways to earn points. The numbers below reflect the growth of the program by Q3 of 2021.
By the numbers
After launching in Q1 of 2021, we saw engagement grow week over week, with feedback from users asking for more ways to earn points. The numbers below reflect the growth of the program by Q3 of 2021.
By the numbers
After launching in Q1 of 2021, we saw engagement grow week over week, with feedback from users asking for more ways to earn points. The numbers below reflect the growth of the program by Q3 of 2021.
50,000
50,000
New accounts opened by existing users wanting to take advantage of earning points from products. For example, a credit card users opens an investing account to claim shares.
445,000
445,000
Active SoFi users enrolled in the Rewards program during the first quarter it was launched. Of those, ~280,000 were logging in to earn and redeem points at least once a week.
27%
27%
The amount referrals to SoFi increased when the Rewards program offered points as incentive for bringing new users to the platform.
50,000
New accounts opened by existing users wanting to take advantage of earning points from products. For example, a credit card users opens an investing account to claim shares.
445,000
Active SoFi users enrolled in the Rewards program during the first quarter it was launched. Of those, ~280,000 were logging in to earn and redeem points at least once a week.
27%
The amount referrals to SoFi increased when the Rewards program offered points as incentive for bringing new users to the platform.
