Streamlining Trade Finance
The trade finance industry had long been facing several challenges that impacted the efficiency, security, and accessibility of the process for all stakeholders involved, including trade finance managers, borrowers, and investors.The main challenges identified were inefficient manual processes, lack of transparency, fragmented systems, inadequate data management, and limited investment opportunities.
Client
Fishtail
Year
2022
Industry
Finance
Revenue
$8 million (2022)
Challenge
The trade finance industry had long been facing several challenges that impacted the efficiency, security, and accessibility of the process for all stakeholders involved, including trade finance managers, borrowers, and investors.The main challenges identified were inefficient manual processes, lack of transparency, fragmented systems, inadequate data management, and limited investment opportunities.
Results
Simplified the process by automating tasks, enhancing speed and organization, thereby improving the overall efficiency for managers and borrowers.
Eliminated manual tasks and paper documents, ensuring document security and reducing errors through digital storage, enhancing efficiency in trade finance.
My Design Process
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Process
Research & Analysis: In order for me to design the platform effectively, a thorough understanding of the manual workflows of trade finance managers and borrowers was essential. This involved conducting qualitative and quantitative research methods to gather a comprehensive understanding of their needs and requirements.
Information Architecture: Based on the research findings, I structured the platform's navigation and content to be straightforward and intuitive, focusing on providing easy access to the most important information and functionality.
Wireframing: Following research and collaborative workshops with various stakeholders, I created wireframes that improved the user journey for both the Trade Finance Manager (TFM) and the borrower. These wireframes focused on essential data points, emphasized important sections, and integrated necessary features, resulting in a user-friendly design that catered to the requirements of both parties.
Visual Design & Style Guide: I established design principles to guide the overall look and feel of the platform, including elements such as typography and color palette. After this, I created a library of UI elements, along with design patterns and templates for common pages.
Usability Testing: The user testing conducted with trade finance managers and borrowers provided insights into the usability and functionality of the prototyped platform that can be checked in the section Results. Participants provided feedback on areas for improvement and suggestions for enhancing the platform to better meet their needs.
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