Streamlining Liquidity Management with Cutting-Edge Technology
Industry
Banking & Finance
Platform
Web
System
Liquidity Management System (LMS)
Introduction
A global banking software product company was facing significant challenges with their Liquidity Management System (LMS), which was used by banks to service corporate customers with a global presence. The system was facing issues with the usability and efficiency of creating and monitoring complex sweep structures across multiple geographies, currencies, and cultures.
Business Problem​
The users of the LMS were facing several challenges that impacted the overall user experience. The system lacked relevant dashboards and monitoring capabilities, which made it difficult for users to create and monitor complex sweep structures. As a result, the company was receiving a high number of support tickets from users, and the customers were losing trust in the system. The company was incurring additional costs on training users, which further added to the problem. The need of the hour was a solution that would improve the user experience and increase efficiency.
The Ask
In order to address these challenges, the company’s goal was to redesign and modernize the LMS to enable users to create and monitor sweep structures efficiently and with ease of use.
Our Approach
Research & Analysis
- To understand the users and their pain points, the team studied their goals, motivations, and challenges.
- The team also gathered information about the customer’s business goals and engaged in discussions with various stakeholders to determine product strategy and priorities.
- In addition, the team conducted a study of the competition landscape.
System Study
- The team then conducted a system study to identify the current information architecture and navigation issues.
- An expert review was also conducted to identify obvious usability issues.
Conceptualization
- The proposed UX solution was conceptualized through the creation of low-fidelity wireframes.
- The team then developed a detailed execution plan that engaged various stakeholders at different stages.
Execution
- The visual design was established based on brand guidelines, style guide, and design system.
- High-fidelity mockups were created to capture and validate business requirements.
- An interaction model and click-through prototype were developed to propose user journeys and user flows.
- The task efficiency rate was measured and compared to assess the impact of the redesign.
Outcome
The team was able to design a monitoring dashboard that helped users rapidly perceive data and insights, giving them a 360-degree view of their universe and enabling them to make prompt business decisions.
Vrunik’s UX Team Used The Insights Gathered From The Research And Analysis To Design A Workspace Console That Helped Users Easily Create And Manage Complex Sweep Structures.
Value Delivered
- Shorter learning curve and higher employee satisfaction.
- Increase efficiency by increasing the task efficiency and the task success rate that resulted in higher ROI.
- Reduce training and support costs.
- Increased customer satisfaction – Provide better services and solutions to their customers and hence increase in revenue
- Generate more opportunities resulting in new business and revenue growth
Conclusion
This case study showcases the success of Vrunik’s approach in creating an integrated educational platform that caters to the needs of software users, community members, engineering students and educators. The project resulted in a unified platform that increased new user sign-ups, boosted community engagement and led to a significant increase in revisit rates by existing users. The project successfully leveraged existing material and provided value to Bentley Systems by promoting their product and increasing its adoption.