Overview
Collateral +
Lead Designer
Project Goal
Our objective was to develop a cutting-edge platform that addressed the gaps in the collateral management segment. Leveraging the latest technology, we aimed to create a solution that not only offered a comprehensive set of features but also provided an intuitive interface for users. By doing so, we aimed to minimize challenges associated with processes and improve overall efficiency.
Challenge
Our challenge was to incorporate modern technology and automation into the existing framework without the need for a complete overhaul. This required a deep understanding of the entire collateral tri-party product flow and finding a way to optimize the experience for all three user segments within the constraints of the legacy framework. Our goal was to seamlessly integrate the new features and functionalities while ensuring the best possible user experience.
I served as the lead designer for State Street, a renowned custodian bank with a rich history of 250 years. State Street offers a diverse range of 2000+ products and services to its global clientele. One of the notable projects I worked on was the Collateral Plus Management system, which aimed to provide end-to-end solutions to clients.
My role involved designing a scalable platform that offered an intuitive solution for agents, pledges, and pledgors. To achieve this, I utilized tools such as Sketch and InVision, ensuring a seamless design process. Employing a user-centered design approach, I focused on critical metrics to optimize the cost-effectiveness of the application and enhance the overall product and service offerings to generate revenue for our clients.
Solution
Our focus was on developing an intuitive interface using the available resources to meet the project requirements. By incorporating function automation and optimizing manual processes, we aimed to significantly reduce time and effort. Ultimately, our goal was to enhance the overall customer experience, leading to increased revenue generation.
UX Approach
Stakeholder Interview
FX Team
Onboarding Team
Collateral Management
Business
Technology
Product Strategy
Research
Findings
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Incorrect RQV value and delays in the process
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Lack of support for multiple modes such as bulk upload and manual option.
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End to end transaction status for clear communication for allocation and log-box
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Security Concerns of portal access with proper credentials based on roles.
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Notifying the client about corporate actions
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Four-Eye-Check for error-free and avoid unnecessary delays in the process.
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Schedule reports for allocation and other reports
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Report customization for client requirements.
Opportunities
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Real-time system feedback with status, timestamp, and refresh capabilities.
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Along with the manual input option, support such as bulk file upload
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Access to different workflow to manage user privileges for individual users
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Portal should alert the user beforehand via various messages and notifications.
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An admin should customize the approval access and privileges based on individual user requirements.
Solution
User Flow
Wireframe
Dashboard
We developed a highly customizable dashboard designed for businesses. The key considerations during its creation were scalability and entitlement. Users have the flexibility to customize the dashboard according to their specific needs, allowing them to remove unnecessary elements and prioritize the information that matters most to them.
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RQV Status: This feature enables users to focus on priority items, ensuring they stay informed about important tasks or requests.
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Surplus/Deficit: Users can easily track the status of collateral requests, helping them manage their resources effectively and make informed decisions based on available information.
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Reports: Our dashboard provides the capability to generate comprehensive reports for clients automatically. This feature simplifies the reporting process and ensures timely delivery of essential information.
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Quick Links: To streamline workflow, the dashboard offers quick access to frequently used links. Users can reduce effort and save time by accessing commonly needed resources with just a single click.
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Instruction: User finds all collateral information to process
Design
Adding Widget
User can add on click of the plus icon empty card (widget) or can be rearrange the by draging in to the empty card holder.
Widget Library and data configuration
Widget library with customization allows the user to configure the data points and desire one widget that matches the available list's requirement based on entitlements.
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The left panel with a search function allows the user to search the widget from the list and select
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Users can select multiple widgets for configuration
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User required to switch tabs to view functions under each widget tabs and need to save.
Takeaway
All Works
# 1 Understand the challenge
Understanding the business need, analyzing every detail from the user in the interviews, and identifying the business's key point.
# 2 Open to research and ideas
Research is most important, whether it's migration or a new product, or enhancement. We must go through it to find the root cause. Even we know the solution would work 100%. It would be bias decision.
# 3 Journey Maps will validate your solution
Especially when it's more complex, journey mapping is beneficial to aligning dots and uncovering the problematic and promising points
# 4 User validation you must do.
Its always suggested to validate the design and flow with the user to make sure the user understands and can use it even if it is a used component or any design flow..
Instructions View
Instructions full view is designed to access all RQV instruction and activities that are required to perform by users.
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Status: Allow users to monitor all the status activities. Also, allow filtering by status to view relevant information in the table.
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Total value and surplus and deficit value indicate user growth and negative value that must be added to the account.
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Users also view the data with a specific date range.
Instructions View
Power filter / Advanced filter allows the user to filter available data and let the user save for feature use applied criteria.
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Users can view selected criteria from each category
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Users can view the applied criteria above the data table
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Users can modify the applied criteria without accessing advanced filter by closing filter tags.
