Trustyfy - Bankless Secure Global Financial Management

According to Revolut's 2024 Annual Report, business customers now represent 15% of revenue despite constituting a smaller user percentage, indicating higher engagement and transaction values—validating our focus on SMB collaborative crypto management.

Wise's 2024 research revealing that US SMBs lost $800M to hidden international payment fees directly supports our design hypothesis that transparent, user-controlled crypto-banking solutions address a quantified market need.

Despite Revolut Business reaching £463M in revenue with 56% growth, only 15% market penetration in key markets indicates significant opportunity for Trustyfy's multi-user crypto wallet approach to capture underserved SMB segments.

Our research aligns with industry trends showing 59% of SMBs increase prices due to payment complexity, while 940M monthly transactions across digital banking platforms demonstrates user comfort with fintech solutions.

Problem identified for crypto and traditional banking: Existing crypto-backed card solutions lacked the granular control and transparency that business users required. Users needed enterprise-level card management within a crypto-native environment, combined with multi-user permissions that traditional banking couldn't provide.

To address these challenges, extensive market research was conducted:

- Competitive analysis of 8 crypto-friendly banks and 6 traditional institutions 

- Regulatory requirement analysis across EU/UK financial services - Task analysis of current crypto-to-banking user workflows

Competitive analysis discoveries:

- 78% of users needed visual clarity on which balance (crypto/fiat) funded each transaction 

- Traditional banking UX patterns reduced user anxiety when handling crypto 

- Regulatory notifications required careful UX to avoid abandonment

- Revolut/Wise approach: Freemium with usage limits → gradual upselling

- Crypto wallet pattern: Free core functionality, premium features as add-ons

- Traditional banking: Monthly fees for premium accounts with enhanced features

Onboarding & Wallet Setup

• Flow: Users create an account or connect an existing decentralized wallet (e.g., MetaMask, TrustWallet). They are guided through wallet creation, adding funds, and setting up preferences. 
• UX Features: Intuitive step-by-step instructions, clear security explanations, and optional ENS nickname setup for easy wallet identification.

Fund Management

• Flow: Users view their wallet balances, transfer funds, and manage multiple currencies and assets.
• UX Features: A real-time dashboard for balances, interactive charts for cash flow tracking, and options to categorize transactions for better financial management.

Transfers & Payments

• Flow: Users initiate transfers or payments, choosing between cryptocurrencies and traditional currencies (e.g., USD, EUR).
• UX Features: Borderless instant transfers with dynamic fee estimates, QR code scanning for wallet addresses, and multi-signature verification for corporate accounts.

Collaborative Wallets

• Flow: Users create joint or corporate wallets, define roles (e.g., manager, viewer), and set multi-signature rules for transactions.
• UX Features: Role management tools, clear approval workflows for transfers, and a notification system for pending actions.

Debit Card & Bank Details Integration

• Flow: Users apply for a debit card and link it to their wallet for everyday spending in traditional currencies.
• UX Features: A seamless application process, clear country-specific availability details, and real-time transaction tracking for linked cards.

Multi-Device Access

• Flow: Users seamlessly switch between mobile, desktop, and tablet to manage their accounts.
• UX Features: Responsive design, synchronized data, and a consistent user interface across devices.

Accessing Affiliate Tools

• Flow: Affiliates receive a unique referral link, promotional materials, and a dashboard to track performance metrics.
• UX Features: Real-time performance tracking, and efficient payout management.

Key flows to cover:

• Deposit  
• Changing PIN code 
• Spending Limits 
• Statements 
• Add a Card 
• Activate Your Card 
• Change Card Name 
• Freeze Card
• Deactivate Card

Slight overview on how Card activation flow was created:

Design Decision: Card Arrival → Identity Verification → Security Setup → Funding Confirmation → First Transaction Test 

Design rationale:

• Identity verification prevents unauthorized activation 
• Security setup (PIN) happens while user is focused 
• Funding confirmation ensures card is usable immediately 
• Test transaction builds confidence and validates setup  

Free user onboarding experience

Design strategy 

Demonstrate platform value without restrictions 

Onboarding Flow: 

1. Complete crypto wallet setup (full functionality) 
2. Build transaction history and portfoliro value 
3. Encounter "upgrade moments" contextually

Upgrade trigger points: 

• "Connect your bank account to see complete financial picture" 
• "Get a debit card to spend your crypto anywhere"  

Design Approach: 

Lead with user benefit, not payment request 

Paid plan onboarding: 

1. "Let's connect your bank account" (value-focused) 
2. Account connection process (immediate utility) 
3. "Unlock advanced features with Paid plan" (contextual offer) 
4. Payment flow (after value demonstration)

Design decision rationale 

Why this structure works:

1. Preserves Core Value Proposition

• Free crypto features maintain user trust and crypto-native appeal
• Paid traditional features feel like legitimate value-add, not artificial restriction
• No artificial limits on core functionality that users expect to be free

2. Natural Progression Path

• Usage patterns naturally lead to upgrade moments
• Value realization happens before payment request
• Trial periods reduce conversion friction and buyer's remorse

3. Competitive Differentiation

• Crypto-first approach vs. traditional banking with crypto bolt-on
• Transparent pricing vs. hidden fees of traditional banking
• Collaborative features not available in other crypto wallets

With a current transaction volume exceeding €10 million after Beta release, the product has demonstrated strong early traction and a clear market need.

Design outcomes: 

• Multi-user wallet setup time: 25 min → 4 min 
• Support tickets for UI confusion: -35%

Innovation in fintech UX: 

• Crypto-traditional finance bridge - first-of-its-kind interface pattern
• Collaborative card management - extending multi-sig concepts to traditional spending
• Transparent pricing - real-time cost visibility across payment methods

Design system maturity: 

• Component scalability - new features built with existing design components
• Pattern consistency - maintaining user experience continuity during feature expansion
• Documentation quality - comprehensive wireframe library suggests strong design documentation

During credit card release we set these metrics to track: 

Conversion metrics (1-6 months post-launch): 

• Free to Fiat/Paid conversion: x active users upgraded within 90 days
• Churn rate: x monthly (industry benchmark: 15%)

User experience impact: 

• Feature adoption: x of paid users actively used bank connection features
• Session time: x increase for paid users vs. free users
• Support ticket reduction: x decrease due to consolidated financial management

Work on next steps design focus:

• Refine user onboarding to improve activation rates and reduce friction, especially for first-time users dealing with large transactions
• Improve dashboard usability with clearer tracking of milestones, escrow statuses, and communication
• Collaborate with product & engineering on a trust score visualization and notification system to surface key actions