QUICK TRANSFERS - COMMERCIAL BANKING
QUICK TRANSFERS - COMMERCIAL BANKING
Introducing quick transfers to handle multiple transactions at once
Introducing quick transfers to handle multiple transactions at once
IMPACT - 33.33%+ reduction in task completion time, leading to a measurable boost in user satisfaction and reduced calls for support.
IMPACT -
50%+ reduction in task completion time, leading to a measurable boost in user satisfaction and reduced calls for support.
IMPACT -
50%+ reduction in task completion time, leading to a measurable boost in user satisfaction and reduced calls for support.
BACKGROUND
BACKGROUND
Quick transfers is a part of commercial digital banking platform. It is a form of shopping cart in which the member can add multiple transfers and execute them at once. This can help them perform multiple transactions at once. This queue also has options for downloading and uploading the transfers list for future use.
"I led 0 to 1 conceptualization and design efforts for quick transfers, along with leading user interviews as part of initial research, stakeholder presentations and visual quality assurance of developed feature."
"I led 0 to 1 conceptualization and design efforts for quick transfers, along with leading user interviews as part of initial research, stakeholder presentations and visual quality assurance of developed feature."
MY ROLE
Product Designer
TEAM MEMBERS
3 Developers & QA
1 Product owner
2 Business Analysts
1 Designer
Mutliple business stakeholders
3 Developers & QA
1 Product owner
2 Business Analysts
1 Designer
Mutliple business
stakeholders
3 Developers & QA
1 Product owner
2 Business Analysts
1 Designer
Mutliple business
stakeholders
TIMELINE
2 months
INITIAL RESEARCH
INITIAL RESEARCH
We conducted 8 user interviews to identify the pain points from a commercial user's perspective and form our problem statement.
We conducted 8 user interviews to identify the pain points from a commercial user's perspective and form our problem statement.
We discovered a few things about transfers in general:
We discovered a few things about transfers in general:
Money transfer is a 3-step process which racks up pretty quickly if an accountant is performing multiple transactions (3 X No. of transactions).
Money transfer is a 3-step process which racks up pretty quickly if an accountant is performing multiple transactions (3 X No. of transactions).
Accountants have to repeatedly refer to payee information every time to fill-in transfer details.
Accountants have to repeatedly refer to payee information every time to fill-in transfer details.
PROBLEM STATEMENT
The user interviews gave us a strong direction to form our problem statement.
The user interviews gave us a strong direction to form our problem statement.
How might we eliminate frustration caused by repetitive processes and give users a faster way to complete familiar transactions?
HYPOTHESIS
HYPOTHESIS
Assuming that commercial members send the same transfers everytime, if they are able to save their transactions in some way, they will be able to reuse the same everytime and save a lot of time in business related transfer transactions.
Assuming that commercial members send the same transfers everytime, if they are able to save their transactions in some way, they will be able to reuse the same everytime and save a lot of time in business related transfer transactions.
I believe we can reuse the existing "Add to favorites" feature to make this process easier and reduce the development effort at the same time.
I believe we can reuse the existing "Add to favorites" feature to make this process easier and reduce the development effort at the same time.
DISCOVERY
DISCOVERY
I created a quick flow chart to understand the friction points.
I created a quick flow chart to understand the friction points.
Discovery
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Current flow for the transfers process
According to available options, the member has to perform all the transactions at least once. Only then they can combine them to one favorite transaction.
According to available options, the member has to perform all the transactions at least once. Only then they can combine them to one favorite transaction.
Discovery
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Proposed flow for the transfers process
FEEDBACK & CHALLENGES
FEEDBACK & CHALLENGES
On proposing the above solution, the development team made us aware of a constraint due to which "Favourites" could not be used for this problem.
On proposing the above solution, the development team made us aware of a constraint due to which "Favourites" could not be used for this problem.
They told us to use an out-of-the-box solution that functioned like a shopping cart, in which you can add multiple transactions and then complete them at once, just like shopping.
They told us to use an out-of-the-box solution that functioned like a shopping cart, in which you can add multiple transactions and then complete them at once, just like shopping.
I started exploring designs using wireframes based on out-of-the-box experience using one entry point.
I started exploring designs using wireframes based on out-of-the-box experience using one entry point.
Wireframes
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Exploration for retrofitting entry point
Wireframes
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Exploring landing page and download/save options
Development team and stakeholders gave the "Download transfer list" option a green light. We also had to introduce an upload option.
Development team and stakeholders gave the "Download transfer list" option a green light. We also had to introduce an upload option.
This will download a list of all transactions currently in queue and members can upload this list next time to recreate the list of transfers and save time.
This will download a list of all transactions currently in queue and members can upload this list next time to recreate the list of transfers and save time.
We initially followed a card structure based on an existing pattern but turns out that the out-of-the-box feature could not accept that kind of customization, so we had to go for a flat horizontal layout.
We initially followed a card structure based on an existing pattern but turns out that the out-of-the-box feature could not accept that kind of customization, so we had to go for a flat horizontal layout.
Challenge
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Modifying table layout based on last minute feedback
There was one last surprise from the design team. The feature name "Quick transfers" was not very meaningful so we changed it to "Transfer queue" and updated all CTAs throughout the platform to make it more contextual.
There was one last surprise from the design team. The feature name "Quick transfers" was not very meaningful so we changed it to "Transfer queue" and updated all CTAs throughout the platform to make it more contextual.
FINAL DESIGNS
FINAL DESIGNS
Designed an experience that allows the commercial members to add multiple transfers into a queue and save the list for recurring use.
Designed an experience that allows the commercial members to add multiple transfers into a queue and save the list for recurring use.
Member impact - Reducing task completion time by ~50%
Business impact - Free up advice center and branch resources. Members feel more comfortable hence bringing more business to Coast Capital.
Member impact - Reducing task completion time by ~50%
Business impact - Free up advice center and branch resources. Members feel more comfortable hence bringing more business to Coast Capital.
RETROSPECTIVE
RETROSPECTIVE
It's not always feasible to develop features that have the best user experience. Sometimes other business justifications like urgency take priority over other things.
It's not always feasible to develop features that have the best user experience. Sometimes other business justifications like urgency take priority over other things.
I still designed for the best user experience by keeping user at the centre of my design. But those designs were not included in this release and were added to a backlog for future enhancement.
I still designed for the best user experience by keeping user at the centre of my design. But those designs were not included in this release and were added to a backlog for future enhancement.
NEXT STEPS
NEXT STEPS
Enable feature to handle other kinds of transactions as well, like Bill Payments, future dated payments etc.
Enable feature to handle other kinds of transactions as well, like Bill Payments, future dated payments etc.
Keep track of usage volume and propose any design changes if required.
Keep track of usage volume and propose any design changes if required.