The Challenge
The Solution
The
Approach
The
Impact
Building on the success of the work done for the MoneyMarket product, Standard Bank recognised that their TreasuryOnline FX value stream could benefit from the same kind of thinking in an effort to simplify and streamline their product. The complexity of the treasury management product tended to impact clients’ business-as-usual procedures and cashflow forecasting.
As one of Africa’s leading corporate banks, Standard Bank wanted a solution that employs automation, business intelligence and financial compliance.
A key requirement was to add an interest rate feature to the MoneyMarket product, which would give clients 1) a view of live rates, and 2) the chance to submit transaction requests.
As lead product designer for MoneyMarket, I designed functionality that allows Standard Bank clients to perform post-trade market operations on a single, secure platform. This means interest rate adjustments, access management reporting on company assets and liabilities, and interest accrual management can be done in a way that saves them time and effort.
For TreasuryOnline, the live rate feature was designed for hedging against FX rate changes. This functionality is supported by a system that caters for many foreign exposures, which can be consolidated in a single currency.
THE TEAM
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1 x Lead Product Designer (Myself)
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1 x Junior Designer
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1 x Product Owner
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1 x Software Engineer (Treasury Management System)
Together with the Standard Bank team, I conducted in-depth competitor analysis and synthesised qualitative data gathering methodologies. I pinpointed which MoneyMarket enhancements would be the most viable and solve treasury-related challenges that clients face.
For TreasuryOnline, I analysed the ‘as-is’ journey and collaborated with FX traders and dealers to fully understand their needs. The outcome of the user testing sessions confirmed that the solution had resolved existing usability issues and offered corporate clients a simpler, more delightful experience!
01
Deconstructed a highly complex management feature to present clients with a simplified, more convenient self-service experience.
02
Built a single, powerful solution that contributes to the hedging of currency risk; the tracking of performance against treasury policies; liquidity management; and overall risk mitigation.
03
Optimised processes for the auditing of activities and reporting for business performance.