eKYC

eKYC

Financial companies and banks have to comply with the KYC norms prescribed by the Government Regulators for onboarding their customers. Tonnes of data has to be taken from the customers to open an account. The project was to enable & assist the customer in opening an account online. We designed a journey that is crisp & highly integrated with their sales and back-office teams.

Fintech

Domain

Swastika

Client

4 months

Duration

eKYC

Domain

Fintech

Client

Swastika

Duration

4 months

Financial companies and banks have to comply with the KYC norms prescribed by the Government Regulators for onboarding their customers. Tonnes of data has to be taken from the customers to open an account. The project was to enable & assist the customer to open an account online. We designed a journey which is crisp & highly integrated with their sales and back office teams.

The challenge.

Offline KYC included a process of users filling up a 30-page form. The biggest challenge was to make this form online with a minimal form filling effort. Also, to make the entire process coherent for the sales and back-office teams who were used to working with the offline flow. It turned out that multiple interfaces for multiple categories of users had to be designed in such a way, so that time to onboard a customer reduces from 48 hours to 2 hours.

Research

The research process began by segmentation of users. After the segmentation, the 30 pager form was analyzed and divided into important and non-important fields. A field study was conducted where our team sat with the sales team and the back office teams to observe how they work and what their challenges are. We also interviewed the different types of customers to understand how we can make the form filling process easier for them by decreasing the cognitive load in their minds.

Analyse

Post research, we began scenario analysis. All the positive/negative and online/offline scenarios were identified, and a process for each outcome was designed. A service blueprint document was created to visualize relationships between different service components - people, props, and processes that are directly tied to touchpoints in a specific customer journey. Creating such a document discovers weaknesses and provides strategic benefits for the business.

Service design

Ideate

To start ideating, we analyzed the top tasks of all the users and process owners. We broke these down further into sub-tasks noting the users' pain points and time taken to complete these tasks. We discovered the best possible methods to finish the tasks in the least number of steps and the shortest time frame possible through ideation workshops. We also found the areas where there was a high user drop probability, and we ideated ways to incentivize the user to finish those tasks.

Top tasks

Conceptualize

We created wireframes for all the user categories - the customers, relationship managers, back-office team, sales heads, software user admin. These were made for both mobile and web. For the relationship managers, a complete mobile app was designed to start the KYC journey right from their customers’ location. Miller’s Law of UX states that an average person can only keep 7 (+-2) items in their working memory. We used chunking to organize content in groups of 5-9 items on every step, thus incorporating Miller’s Law everywhere in the apps.

Design

Aesthetically pleasing design incepts a positive outlook in a user’s brain and leads him/her to believe that the process is actually easier. We kept minimal distractions on each step so that the customer is focused on filling the form, the salespeople are focused on onboarding customers, and the back office team concentrated on verifying user details. We also created eye-pleasing dashboards and incorporated offers and learning videos for the customers so that they feel good after completing the form filling process.

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