Design for a web service enabling quick applications for business bank accounts
AGENCY
YouPal.se
INTERFACE TYPE
Responsive Web
Product Designer
ROLE
DATE
2020
STATUS
Launched
JOB TYPE
Office and remote
Why: Business Aims
The primary business aim of the project was to fully automate the flow of making an application to open a business account so that the time of bank employees could be freed up for other tasks (for example, direct sales, and improving services).
It was also important to increase the number of business account applications, by increasing the coverage of the target audience as a result of the new internet service.
It was also important to increase the number of business account applications, by increasing the coverage of the target audience as a result of the new internet service.
Why: Product Tasks
We needed to create the fastest and easiest way to submit an application in the UAE using a web service format.
We also needed to simplify the existing flow of filing an application with the participation of bank managers. The existing flow consisted of 13 stages and 284 fields– a long and tedious process for the client, and a labor intensive one for the bank employee.
Who: Target Audience
The key target group of the service was as follows:
— those aged 30-60 years old,
— those in the middle/upper income bracket,
— business owners (90% of the bank's business clients could be classified as small and medium-sized enterprises which have 1-2 owners. Larger clients were assigned personal managers as standard),
— those who have completed higher education
The application could also be submitted by the company's employees: accountants and receptionists, etc.
Another criterion for separation is the initial and repeated filling of the application (if the client has several companies).
— those aged 30-60 years old,
— those in the middle/upper income bracket,
— business owners (90% of the bank's business clients could be classified as small and medium-sized enterprises which have 1-2 owners. Larger clients were assigned personal managers as standard),
— those who have completed higher education
The application could also be submitted by the company's employees: accountants and receptionists, etc.
Another criterion for separation is the initial and repeated filling of the application (if the client has several companies).
Where and When: the Customer Context
A client faced with the task of opening a business bank account would examine the bank's offer on the Internet using a laptop or smartphone, or seek help from a bank manager by phone while in the office or "on the move."
Since filing an application consisted of filling out several dozen fields and attaching documents, the client would be more likely to use their laptop for this task than their smartphone.
Since filing an application consisted of filling out several dozen fields and attaching documents, the client would be more likely to use their laptop for this task than their smartphone.
What: Information Architecture and Design
Based on the context of using the service, we made a decision about web-first development.
We comprehensively reworked the existing flow of filling out an application over 13 stages, leaving only 6.
Taking into account possible entry points, the service architecture appeared as follows:
We rendered 136 screens, guidelines for colors, typography, padding and responsive layout.
One of the more important tasks in the project was to optimize the layout for zoom in / zoom out browsers 25-500%. Together with the front-end development team, we successfully resolved this issue.
Outcomes, Criteria for Success
We solved the main business problem by automating the application process for opening a business account.
We also successfully managed the product task, reducing the number of stages from 13 to 6, and the number of fields from 274 to 75.
Since our collaboration with the bank finished upon the launch of the project, we recommended monitoring the following metrics to assess the effectiveness of the service:
– overall completion time: how much time the client spends filling out the form,
– completion rate for each step: how much time the client spends on completing individual stages,
– success rate: the ratio of the number of customers who began filling out the form and the number who completed it,
– NPS: Consumer loyalty index, or readiness to recommend the service to friends.
– overall completion time: how much time the client spends filling out the form,
– completion rate for each step: how much time the client spends on completing individual stages,
– success rate: the ratio of the number of customers who began filling out the form and the number who completed it,
– NPS: Consumer loyalty index, or readiness to recommend the service to friends.
