New Product for Loan Trading & Distribution Management

Case Study

New Trading & Distribution Management Product

How do you fill a gap in the solution ecosystem by streamlining high risk financial processes from front to back office roles?

Challenges

Understanding current state to determine priority and focus

01

Early assumptions & focus only
on business logic mis-guided the product direction causing excessive rework

02

A similar initiative had failed
with customers several years prior

03

Feature only mindset caused gaps in
the orchestration of the experience

04

No clear understanding of
persona(s), tasks, behaviors, current challenges

05

Lost time and team resources
allocation building the wrong things

06

Legacy architecture hurdles and required use of an outdated Enterprise Design System that missed critical customer insights

Testimonial

5.00

"They [product users] spend days/years dealing with a mess. It should be easier.”

Jelena Djordjevic

Product Owner

As this was a new product to address an industry gap, many assumptions by the product team were made until the design team had access to customers and their current ecosystems. Over several months, the team identified each persona, their daily tasks, and where they enter and exit the lifecycle. This was a critical starting point to understand motivators, challenges, needs and successes that would later inform product strategy.

PROTOTYPING

Demonstrating progression for ongoing customer validation

5

Key Personas

Throughout the lifecycle, 5 general personas carried the majority of the tasks

28

Jobs-To-Be-Done

The team identified key tasks and built clickable prototypes to address and test the scenarios

120+

Prototyped Scenarios

The team created various explorations addressing the scenarios for user testing and iteration

Results

Outcomes moving the business forward

Reducing risk, identifying customer value proposition, gaining buy-in…

3

Average estimated cost reduction in UX & Tech debt

Went from zero customers interested after failed attempts to demonstrate value to 3 that became active in sales negotiations

93%

Average cost reduction in UX & Tech debt

Introducing customer programs contributed to lowering UX & Tech debt by 93% saving development hours & additional rework

60%

Average increase in velocity over 9 mo

Aligning team on personas, insights, common design system and clear MVP created more efficiencies for the international team allowing easier scoping and less rework

8.5

Out of 10 for Persona Impact

Customers validated prototypes and provided a confidence score based on the impact to their persona in the organization

8.1

Out of 10 for Business Impact

Customers validated prototypes and provided a confidence score for impact with their current business

Communication is good

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