SME Banking

Online banking platform design for SMEs

from setting up the vision to build the first MVP

Design Process

Phase 1. Understand the context 

Phase 2. Product vision and validation 

Phase 3. Build MVP and marketing page for testing 

Phase 4. Implementation

1. Understand the context 

• Set up: 1 Business developer and 1 Product manager.

• User Interview: 18 busienss owners with different industries from our next work

• Duration: For 2 weeks

• Objective:

  • Understand their banking / finance behavior

  • Validate our busienss hypotheis

  • Get a direction of our concept  

Findings:

1) Opening bank account is difficult

Take average 8weeks to open the bank account, Adding a partner in the bank account is hassle. It’s difficult to talk to the agent or financial expert to get some advice.

2) Put lots of effort to navigation their finance

Finance is annoying, difficult to understand, spend a lot of their time (8 hours per week or more), learning curve is very high, but some enterprise get helped by CFO or external accountant

Some company even’t don’t know what the revenue next month would be, or if they will have a financial problem tomorrow. They are playing extremely dangerous way, unfortunately, they are too busy to handle their finance. 

3) As a early business owner, it’s still hard to get any lending solutions

Loan is another topic. business owner all having hard time to get a loan and mostly starts from 50,000euro. Some needs just to manage their liquidity, over draft is not easy as business owner in Germany.  

2. First prototype / vision

Manage your finance in one - First mockup, test and validation

• Set up: 1 Business developer and 1 Product manager.

• User test: Back to the 8 customers we interviewed last time

• Duration: For 3 weeks of building the concept / 2 weeks of test and improving the validation

• Objective:

  • 1. Quick to validate our value proposition and Concept: by showing mock up from Marketing page, Onboarding flow and Dashboard

  • 2. Do users willing to connect their bank accounts? Do users willing to create another accounts who has their own business account already?

  • 3. Is the onboarding fast and straight forward? Forcasting idea is relevant to the different industry?

  • Findings: User has a clear engagement of our concept, willing to purchase it. Key issue is the level of the personalization. Data share and Trust on the company and product.

file:///Users/hyeonayang/Desktop/02_HitFox/160817_M-flow/prototype/index.html#/screens/179254179

3. Build MVP product

Started from user journey, build the feature and test

• Set up: Team of CTO & CPO, 3 product managers, 2 designers, 4 back-end & 4 front-end developers

• Design sprint: Sprint 1: Create an account, Sprint 2: Multi-account connection 3: Settings 3. Roles & Permissions 4. Categorisations …

• Duration: For 2 -4 weeks of sprint

• Process:

  • 1. Design sprint (First user journey and flow)

  • 2. Quick test and iterate (Flow usability check)

  • 3. Create wireframe for Dev. and validate the feasibility & Improvement

  • 4. Building the design key screen and create a style guide - export to Zeplin

1) Design sprint: Define user journey and detailed flow together within the team

2) Quick UX test, iterate and validate

Test the basic flow, if the user understands the flow, is there any confusin during the onboarding, the multi banking connection is easy to use? Opening bank account is simpler as they expected?

3) Wireframe - Create user flows, key screens definitions, define details flow and edge cases

Show the flow to get feasibility check, Improve the feature details together with developers. Have a review together with dev. team and product mangers link the wireframe page and styleguide to the Jira ticket

4. Design and stylguide

Brand design direction

Brand is an important criteria for startup to bring their trust. especially insurance aspect, trust is the one of the most important part. My goal was to bring consistent message through design and look and feel. 

Made with the amazing team at Finleap