Business Problem

myBank aimed to test the feasibility of a digital banking platform focusing on rapid development, regulatory compliance, and a user-centric onboarding experience. The POC had to prove these goals were achievable within an MVP framework.

User Problem

Users often struggled with overly complex digital banking solutions, especially during onboarding, which required multiple steps to meet KYC regulations. The objective was to simplify this process, making it faster and more accessible.

Project Management

Agile Management: Managed using agile principles, focusing on iterative design and validation through user testing. Close collaboration with stakeholders ensured alignment with business goals and compliance needs.

Product Management: Applied the MoSCoW method to prioritize MVP features, ensuring critical components like KYC compliance and user onboarding were developed first.

Stakeholder Alignment: Regular stakeholder meetings ensured project goals aligned with business objectives and regulatory requirements.

Workflow Optimization

Automating KYC Checks: Proposed automated KYC checks to reduce manual verification and speed up onboarding. Simulations suggested a 50% reduction in onboarding time, improving workflow efficiency.

Stakeholder Engagement: Facilitated collaboration between design, compliance, and development teams to ensure workflows met user needs and regulatory standards.

Competitive Analysis

Analyzed competing digital banks to identify best practices. Key insights included the need for simplified onboarding and transparent compliance communications.

User Research

Conducted research to pinpoint common digital banking pain points. Findings informed the MVP design, focusing on clarity, simplicity, and compliance.

• Users prefer straightforward onboarding screens without excessive instructions.
• Interviewees suggested they felt intimidated when there were many steps in the sign-up process.
• Users need assurance of document security during KYC.
• Users expect instant visibility of account balance and transactions.
• Users demand control over cards, including freezing, setting limits, and issuing new cards.

Meeting KYC Requirements

Designed a flow that incorporated automated KYC checks, using machine learning algorithms to verify user documents and identity. The flow aimed to leverage AI to mitigate human bias and ensure fair treatment.

Information Architecture

Created detailed information architecture diagrams, mapping out the platform's main menus and submenus to ensure a clear and logical user journey.

Wireframing

Developed wireframes to visualize the platform's layout and user flows. Used for rapid user testing using lo-fi prototypes.

Simplified Registration

Introductory screens on launch were designed with clear, trust-building copy. We avoided instructional screens, reducing steps from 10 to 6.

Account Setup

The sign-up process starts with phone number entry for 2FA. Returning users are prompted to log in, while new users create a passcode and submit KYC documents.

Initial Access & Validation

Upon initial approval, users receive restricted access and are prompted to submit proof of address to complete KYC.

Home & Navigation

The home screen provides a clear overview of account balance, recent transactions, and financial analytics.

Transfers & Payments

Users can transfer funds to contacts or IBANs. The swipe-to-pay feature ensures secure transactions, mimicking a physical card swipe.

Analytics & Budgeting

Users can track spending habits and set budgets directly from the account overview, supported by notifications.

Card Management

Users can manage cards by freezing, editing, or deleting them, changing PINs, or setting transaction limits.