Shareholders Registration
Registration of investor clients
Automation of the process and registration management.
A painful process
The financial institution in question had some issues related to the process of registering a shareholder investor: an extensive form with over 90 fields, a process involving many actors for validation and manual adjustments of recurring errors, delays in client feedback and different internal platforms to complete a single registration.
Analysis of the current scenario
Despite of already having some clear issues to resolve, it was necessary for us to understand the complete flow, mapping all the actors and areas involved and pinpointing the specific pains of both users: external and internal.
So we started collecting the main pain points throughout the journey.
Pain and Pills canvas made with the financial team
The as/is flow with the critical points
After identifying the main and most detracting pains, we documented the backend as/is flow and prioritized which solutions hypothesis we would implement for the MVP, most of which were essential for transitioning from the manual process to the digital one.
Examples of documents delivery we've made
Findings
With the defined concept of some solutions, we drew a quick to/be macro flow to have an overview and to be able to focus on the two projects in separate scopes:
shareholder registration and registration management.
New To Be Macro Flow
1st Scope:
Shareholder registration platform
Benchmarking
Due to the confidential nature of the process, obtaining direct references was more dificult and time-consuming than possible. Therefore, we focused our benchmarking on analogous products such as banking and investment platforms.
Some bank and investment services references
As/Is flows and journeys
With the references and usability analysis in hand, we developed over 12 journeys and 4 flows for all types of investor profiles and devices.
Example of one of the To Be Journeys and Taskflows
Prototype
We utilized Sketch with navigation via InVision, always mindful of and incorporating the client's design system. For this user profile, we created more than 180 screens, including mobile and all the exception and error scenarios.
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2nd Scope:
Registration management platform
Benchmarking
As we had to conceive it from scratch, we analyzed external references and other products from the financial institution itself.
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Some references
Sitemap
We mapped the main needs of these users, considering a structure that was cross-functional between profiles and the institution areas.
Consequently, there were validations and permissions based on the specific needs of each user and the output gave greater visibility for the developers of what they would need to prepare, check or improve to build this new platform.
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The workshop with tech and financial areas and the final document
Wireframe
Unlike the1st scope, we had all stakeholders within our reach. To validate our sitemap proposal and check if it addressed the mapped pains, we decided to do wireframes and validated them through iterative deliveries to maintain consistency and provide a comprehensive view of the platform structure for the development team and our internal stakeholders.
Wireframe screens according to the sitemap
Prototype
Just like the registration platform, we used Sketch and InVision, creating more than 170 screens and a navigable prototype, adhering to the brand's design system.
Usability test
Unlike the registration platform, where the end users were distributors of the quota, the registration management platform (cockpit, as it was called) could be tested by internal bank users. There were 6 end users and over 5 hours of remote usability testing conducted via Microsoft Teams
These were some of the users reactions:
Project Impact
The project timeframe allowed only our analysis during the project itself.
However, we identified the following impacts:
Fluxo geral
Campos
Before:
•Emails and phone calls to follow up on the process;
• 5 diferente systems to submit a single registration;
• Manual data transfer into the platform due to paper forms.
After:
• Management platform providing visibility of registration statuses;
• Visibility and sequentiality of the process steps to follow on a single data input process;
• Online process, with integrations, APIs and data bases to speed up data entry.
Before
• Extensive registration form, with 93 fields;
• Form fields were not segmented by type of investor, resulting in unnecessary filling;
• Errors in the internal system's input data process were only identified after filling out all the fields on the screen.
After:
• Digital platform with a 47-field form for a certain profile - reduction of 31%;
• Fields segmented by investor type;
• Errors alerted instantly upon completing a field;
• Online submission of the registration by the future shareholder.
Of the 28 solutions hypothesis identified during inception and throughout the project, 23 were able to be implemented in the MVP, solving 82% of the painpoints and critical problems, delivering a great experience for several types of users, with a 5 months project :)