Product Owner/UX/UI DESIGN

SettleTech is a collaborative platform to enable non-bank lenders to process loan settlements. Beginning as a UX/UI design I worked with a BA, CTO and development team to bring the vision of simplifying settlements to life.

Cohesive communication and document management is a challenge for many non-bank lenders relying on emails and excel spreadsheets to manage their loans. The challenge the team faced was creating an environment where all parties involved in a financial transaction could collaborate and have full visibility on the state of the loan as it progressed to settlement.

DISCOVERY

Working closely with key stakeholders we detailed the relevant parties' involvement in the settlement process. Using journey maps I helped to uncover key stages in the flow of information in the settlement process. Identifying potential changes along the way and validating the need to support the most user focused experience to get users tags done in the most efficient way.

The focus of this project was get a MVP to market to showcase the benefits of using bespoke solutions that aligned parties on a central missing, settling loan more simply and removing the reliance on phone calls and emails to manage work loads.

INSIGHTS & TAKEAWAYS

• The application process can be started by various parties Brokers, Lenders or Lawyer depending on the stage of the process
• Visibility controls would be crucial to allowing flexible work flow for relevant parties
• Depending on the progression of the application other parties many be omitted or added depending on which stage they enter in the application cycle
• Not all user have the same intentions or desires for using the system

RESEARCH > DEFINE > SYNTHESIZE

After doing continuous reviews with stakeholders of keys flows in the process we were able to identify clear patterns in the process that needed to be support by the system. Qualitative reviews with industry partners allowed for rich insights into their individual practices and processes.

INSIGHTS & TAKEAWAYS

• Expectation of being notified on specific aspect of a application depending on my role in the transaction
• Standardized templates were used in their current processes that involved very individualized data update with no clear automation
• Detail was getting lost in emails and excelsheets increase the risk of missed information and misalignment

IDEATION > PROTOTYPING

After analyzing the reviews of prototypes we prioritize the key features required for our MVP. Comparing strength and weekness, generating simple story boards and walk through the journey with stakeholders.

INSIGHTS & TAKEAWAYS

• The ability to easily copy and paste from existing word/excel/email templates to import data into the system
• Triggering emails only when users are ready to being inviting people into the platform
• Using our team to help with the manual data input could assist in encourage user adoption

WIREFRAMING > PROTOTYPING

Using XD I developed the beginnings of a design library and clustered some user flow together to understand the importance and hierarchy of information. After going through a number of screen variation and refocusing on prioritising features that will have the most potential impact.

KEY FEATURE SETS IDENTIFIED

• Simplified process for inviting parties into application
• Notifications on select actions in the application
• The ability to bulk add conditions
• Report on completed conditions and approved/waived documents
• Ability for only select users to approve and decline documents

KEY RECOMMENDATIONS FOR FUTURE

• Shorter term > continued engagement with subset of users to encourage the network effect of the platform
• Mid term > Implement a pilot program with key industry partners to further develop case studies and gather more quantitative data that identifies potential roadblocks in the process
• Long term > Continued focus on integrations and understanding client needs

REFLECTION

Smaller experimentation that requires less development time would be beneficial in uncovering potential solutions and opportunities. Creating a customer advisory committee to gain great insight about the interaction of users during the settlement process. 

In further development of this product I would seek to develop the mobile application identifying customers needs when reviewing and achieving quick tasks on the go. The directive of the MVP was for a desktop SAAS application but exploring the functionality of a mobile based application could increase opportunities for the market.