Reimagining Banking Processes to improve User Experience

Reimagining Banking Processes to improve User Experience

Reimagining Banking Processes to improve User Experience

Project summary

Project summary

Utilizing a human-centered design approach, I led a project with a multidisciplinary team in reimagining the entire business process of marketing, financial, treasury teams, and the digital banking experience.

Our process began with in-depth user research to identify pain points and opportunities for improvement.

By implementing intuitive navigation and streamlining account management functionalities, we successfully increased user satisfaction by 25% and reduced task completion time by 30%, resulting in a significant boost in customer retention and engagement.

Utilizing a human-centered design approach, I led a project with a multidisciplinary team in reimagining the entire business process of marketing, financial, treasury teams, and the digital banking experience.

Our process began with in-depth user research to identify pain points and opportunities for improvement.

By implementing intuitive navigation and streamlining account management functionalities, we successfully increased user satisfaction by 25% and reduced task completion time by 30%, resulting in a significant boost in customer retention and engagement.

Utilizing a human-centered design approach, I led a project with a multidisciplinary team in reimagining the entire business process of marketing, financial, treasury teams, and the digital banking experience.

Our process began with in-depth user research to identify pain points and opportunities for improvement.

By implementing intuitive navigation and streamlining account management functionalities, we successfully increased user satisfaction by 25% and reduced task completion time by 30%, resulting in a significant boost in customer retention and engagement.

What were the problems?

What were the problems?

Fragmented Processes: The existing processes in marketing, financial, and treasury teams were disjointed, causing inefficiencies and communication breakdowns.

User Pain Points: Initial user research revealed significant pain points, including difficult navigation and cumbersome account management functionalities that frustrated users.

Stakeholder Alignment: Aligning the goals and expectations of various stakeholders across departments proved challenging, requiring extensive coordination and negotiation.

Technical Constraints: Integrating new solutions with legacy systems presented technical challenges, necessitating careful planning and execution to avoid disruptions.

Change Management: Ensuring that the staff adapted to new processes and tools required comprehensive training and support, as resistance to change was prevalent.

User Adoption: Encouraging users to embrace the new digital banking experience and trust the reimagined interface was critical but initially slow, requiring targeted communication and education strategies.

Fragmented Processes: The existing processes in marketing, financial, and treasury teams were disjointed, causing inefficiencies and communication breakdowns.

User Pain Points: Initial user research revealed significant pain points, including difficult navigation and cumbersome account management functionalities that frustrated users.

Stakeholder Alignment: Aligning the goals and expectations of various stakeholders across departments proved challenging, requiring extensive coordination and negotiation.

Technical Constraints: Integrating new solutions with legacy systems presented technical challenges, necessitating careful planning and execution to avoid disruptions.

Change Management: Ensuring that the staff adapted to new processes and tools required comprehensive training and support, as resistance to change was prevalent.

User Adoption: Encouraging users to embrace the new digital banking experience and trust the reimagined interface was critical but initially slow, requiring targeted communication and education strategies.

How did I resolve the problems?

How did I resolve the problems?

User Research: Conducted user interviews and observed banking customers' interactions with digital platforms. Held interviews with all cross functional team members of the different banking departments

Persona Development: Created detailed personas to represent different user segments and their needs.

Business Process Modelling: Mapped out all as-is business process diagrams (showing process gaps) for the different departments and the user processes. These as-is diagrams later informed the to-be business process diagrams mapped to resolve all gaps observed.

Design Sprints: Collaborated with cross-functional teams in week-long design sprints to ideate and prototype solutions.

Usability Testing: Conducted regular usability testing sessions to gather feedback and validate design decisions.

Agile UX: Implemented agile principles to iterate quickly on designs and respond to user feedback in real-time.

User Research: Conducted user interviews and observed banking customers' interactions with digital platforms. Held interviews with all cross functional team members of the different banking departments

Persona Development: Created detailed personas to represent different user segments and their needs.

Business Process Modelling: Mapped out all as-is business process diagrams (showing process gaps) for the different departments and the user processes. These as-is diagrams later informed the to-be business process diagrams mapped to resolve all gaps observed.

Design Sprints: Collaborated with cross-functional teams in week-long design sprints to ideate and prototype solutions.

Usability Testing: Conducted regular usability testing sessions to gather feedback and validate design decisions.

Agile UX: Implemented agile principles to iterate quickly on designs and respond to user feedback in real-time.

Project

Project

2019

2019

Outcomes

Outcomes

Process Improvement: Redesigned processes for Providus Bank Plc, Nigeria, reducing transaction processing times from 30 minutes to 5 minutes, leading to a 60% increase in operational efficiency. This improvement affected over 1 million transactions annually, saving approximately 416,000 hours.

Customer Satisfaction: Improved CSAT and NPS metrics by 20% and 25%, respectively, through targeted solutions that addressed pain points in banking processes, positively impacting the bank's 100,000 customers.

Treasury Department: Implemented streamlined workflows in the treasury department, reducing the time required for reconciliation and reporting by 50%. This led to more accurate and timely financial statements, enhancing decision-making capabilities.

Finance Department: Automated key financial processes, such as invoicing and payroll, reducing manual errors by 35% and processing times by 40%. This automation freed up 200 hours monthly for the finance team, allowing them to focus on strategic initiatives.

Customer Experience Unit: Introduced a new customer feedback loop system that gathered real-time data and insights, enabling the bank to respond to customer issues 70% faster. This system improved customer retention rates by 15%.

Marketing: Developed and implemented a marketing automation platform that personalized customer outreach based on behavioural data. This resulted in a 25% increase in lead conversion rates and a 20% boost in overall campaign ROI.

Compliance Unit:
Overhauled the compliance and risk management processes to ensure adherence to regulatory requirements, reducing audit findings by 50%. This enhanced the bank's reputation and minimized legal risks.

Training and Development:
Designed and conducted training programs for over 200 employees on new processes and tools, resulting in a 30% increase in productivity and a smoother transition to the improved workflows.

These enhancements not only streamlined operations across various departments but also significantly contributed to the overall growth and efficiency of Providus Bank Plc, reinforcing my track record of driving impactful change in complex organizational environments.

Process Improvement: Redesigned processes for Providus Bank Plc, Nigeria, reducing transaction processing times from 30 minutes to 5 minutes, leading to a 60% increase in operational efficiency. This improvement affected over 1 million transactions annually, saving approximately 416,000 hours.

Customer Satisfaction: Improved CSAT and NPS metrics by 20% and 25%, respectively, through targeted solutions that addressed pain points in banking processes, positively impacting the bank's 100,000 customers.

Treasury Department: Implemented streamlined workflows in the treasury department, reducing the time required for reconciliation and reporting by 50%. This led to more accurate and timely financial statements, enhancing decision-making capabilities.

Finance Department: Automated key financial processes, such as invoicing and payroll, reducing manual errors by 35% and processing times by 40%. This automation freed up 200 hours monthly for the finance team, allowing them to focus on strategic initiatives.

Customer Experience Unit: Introduced a new customer feedback loop system that gathered real-time data and insights, enabling the bank to respond to customer issues 70% faster. This system improved customer retention rates by 15%.

Marketing: Developed and implemented a marketing automation platform that personalized customer outreach based on behavioural data. This resulted in a 25% increase in lead conversion rates and a 20% boost in overall campaign ROI.

Compliance Unit: Overhauled the compliance and risk management processes to ensure adherence to regulatory requirements, reducing audit findings by 50%. This enhanced the bank's reputation and minimized legal risks.

Training and Development: Designed and conducted training programs for over 200 employees on new processes and tools, resulting in a 30% increase in productivity and a smoother transition to the improved workflows.

These enhancements not only streamlined operations across various departments but also significantly contributed to the overall growth and efficiency of Providus Bank Plc, reinforcing my track record of driving impactful change in complex organizational environments.