Sending money is simple and safe with BMO Global Money Transfer

The Bank of Montreal (BMO) Global Money Transfer service offers a seamless and secure way to send funds internationally. Designed for both personal and business use, this service allows users to transfer money across borders quickly and efficiently. With competitive exchange rates and minimal fees, BMO ensures that your funds arrive safely and on time, providing a reliable solution for managing global transactions.

What was the challenge?

The challenge of building a global money transfer platform from scratch that is both responsive for the web and functional as a mobile app on iOS and Android involves several key considerations. For the website, achieving responsiveness requires designing an interface that adapts smoothly across different screen sizes, ensuring a seamless user experience from desktops to smartphones. This includes optimizing performance with fast loading times, intuitive navigation, and secure transaction processes. On the mobile app side, the goal is to deliver a consistent and user-friendly experience across both iOS and Android, while following platform-specific design guidelines. Both platforms must also support multiple languages and currencies to cater to a global user base, adding complexity to the development and design process.
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Comparing TD, RBC, CIBC, and Remitly: A Deep Dive into Global Money Transfers

When evaluating global money transfer services, Scotiabank, TD, CIBC, RBC, and Remitly each offer distinct advantages. Scotiabank’s Global Money Transfer provides no-fee transfers to certain countries and competitive exchange rates, leveraging its strong Latin American presence. TD’s service focuses on cross-border transfers between TD accounts in Canada and the U.S., with additional options through partnerships, but lacks direct international transfer capabilities outside this network. CIBC’s Global Money Transfer stands out for its no-fee online transfers to over 50 countries and user-friendly platform. RBC offers a wide-reaching Global Transfer service to over 120 countries with no fees for RBC clients, making it ideal for those already banking with RBC. Remitly, a specialized remittance service, excels with its fast, flexible options including same-day or next-day transfers, and diverse delivery methods such as cash pickup and mobile money, though its fees can vary significantly based on speed and method. Each service caters to different needs, from broad banking integrations to specialized, rapid remittances.

Comparative Summary

• Global Reach: RBC offers the widest international coverage, followed by Remitly, which also has extensive global reach but is more focused on remittances.
• Fee Structure: CIBC and RBC provide fee-free transfers for online services or account holders, while Scotiabank and TD have fee structures that vary based on destination and account type. Remitly’s fees are variable based on the transfer method and speed.
• Speed: Remitly excels in speed, offering options for same-day or next-day transfers, whereas the banks generally process transfers within a few business days.
• User Experience: Remitly is known for its user-friendly app and flexibility, while banks like RBC and CIBC offer integrated services with their existing banking platforms.

User Flow Design

I used user flows to visually represent the steps users take to achieve specific goals within the product. These flows outline key interactions and decisions, helping to identify potential pain points and areas for improvement.

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Global Money Transfer Dashboard

The dashboard is designed with a clean, user-friendly layout, featuring tabs for easy navigation, including Overview, Global Transfer History, Manage Contacts, and Currency Watchlist. The Global Transfer History tab allows users to check past transfers, providing detailed insights into their transaction history. The Manage Contacts tab enables users to add, edit, and remove contacts, streamlining the process of managing recipients. Meanwhile, the Currency Watchlist tab lets users select and track currencies, giving them quick access to real-time exchange rate updates and helping them stay informed for future transfers. This organized structure enhances usability and makes managing global transfers seamless and efficient.

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Selecting a Country and Currency for Global Money Transfers

When planning a global money transfer, selecting the right country and understanding its currency are crucial steps. For instance, if you choose to send money to India, you’ll need to work with the Indian Rupee (INR). It's essential to check the current exchange rates to ensure you’re getting a fair value for your transfer, as rates can fluctuate. Additionally, be aware of any fees or charges associated with the transfer, as these can impact the final amount received. By carefully selecting the country and currency, you can optimize the efficiency and cost-effectiveness of your global money transfer.

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Three-Step Global Money Transfer Process: Form, Review, and Confirmation

In designing a global money transfer system, it’s crucial to ensure a seamless experience across both the website and mobile platforms. The Form page is where users input the necessary details for their transfer, including the recipient's information, transfer amount, and currency. This page should be straightforward and easy to navigate, with clear instructions and validation to ensure accurate data entry. Next, the Review page allows users to double-check all entered information before finalizing the transfer. This step is crucial for minimizing errors and ensuring that all details, such as the recipient’s name, transfer amount, and currency conversion rates, are correct. Finally, the Confirmation page provides users with a summary of their transfer, including a reference number and estimated delivery time. This page should offer reassurance by confirming that the transaction has been successfully processed and provide options for tracking or managing the transfer if needed. By designing these three pages with clarity and usability in mind, you can enhance the overall user experience and ensure a smooth transfer process.
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Flag Selection Components for Website and Mobile App

In designing a global money transfer system, I developed components for selecting flags to enhance user experience on both the website and mobile app. For the website, I created a dynamic flag selection component that allows users to easily choose their country from a visually engaging list of flags, ensuring quick and intuitive navigation. This component is designed to be responsive, adapting to various screen sizes and maintaining a consistent user interface across different devices.

For the mobile app, I implemented a streamlined list of flags that fits seamlessly into the app's interface. This list is optimized for touch interactions, making it easy for users to scroll through and select their country. The flag components are designed to be compact and easily accessible, ensuring a smooth and user-friendly experience on both iOS and Android devices. These components enhance the efficiency of the global money transfer process by providing clear and quick country selection options.

Highlight: I played a key role in migrating all design components from Sketch to Figma. This transition involved meticulously transferring and adapting each element to ensure consistency and functionality in the new platform. By leveraging Figma's advanced features and collaborative tools, I facilitated a smoother workflow and enhanced team collaboration, ensuring that all components were accurately represented and easily accessible in our design system.

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Prototype

The prototype for the Global Money Transfer project was developed successfully, showcasing all key features and components. It effectively demonstrated the overall user experience, transaction flow, and design consistency, providing a clear vision of the final product. The prototype allowed stakeholders to review and approve the core functionality, ensuring alignment with project goals.

Delivery

The delivery of the Global Money Transfer project involved close collaboration among various team members, including developers, the Product Owner (PO), the Director, and the Business Analyst (BA). While some components adhered to the standard design system for consistency, the project required custom solutions to meet its unique needs. Developers implemented these tailored components, ensuring seamless integration with existing systems. The Product Owner provided essential insights and prioritized features to align with user needs and business goals. The Director oversaw the project's progress, ensuring it met strategic objectives, while the Business Analyst gathered requirements and facilitated communication between stakeholders. This coordinated effort ensured that the final delivery not only adhered to the design system but also delivered a secure, intuitive, and efficient Global Money Transfer experience.

Concluding Thoughts on the Financial Application

The project was a success overall, with a smooth process and timely delivery. However, the only issue I encountered was the inability to implement the country search feature. Due to time constraints, this functionality was not added as planned, but everything else progressed well and met the project's goals.

Global money transfer is available by clicking here

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