What is Trade Deals and the project about?
Trade Deals is a solution which sits between RMs & Trade specialist where RMs can raise attractive rates for clients performing large amounts outside UAE.
The problem and business goals
- Different pain points in the process:
- Communication between RMs and Trade specialists is via email
- Thus, it’s a slow process
- Missing tracking feature
Currently, trade specialists obtain pricing details via email, and there is no tracking mechanism to monitor the number of deals utilized, as the entire process is manual
Digitization of Trade Deals is important to avoid dependency/manual intervention with the internal stake holders if the proposed deal is under approved limits and achieve better TAT
Objectives
A digital portal for business trade specialists is to fetch the pricing and “limit availability” for trade products from RISQ (the available system) instantly to serve the customers better.
This solution is intended to fix the connection between Relationship Managers and Trade Specialists within the bank
Benchmarking
- Simultaneously, we benchmarked direct and indirect competitors, to get a grasp of:
- How do they do it?
- What are the common practices in the UAE and world wide?
- What common visual and interaction patterns the UAE and world wide?
Testing & Analysis
We planned quick and long-focused testing sessions, with the help of the Research team to make informed decision whenever we’re in doubt
Brainstorming / Wireframes
- End to end Design journey with all the steps laid out quickly
- Right information to see how the user experience will be
- where is the rejection
- drop offs
- approval stage
- what information are you asking
Interface Design & Design System
- Design decisions made
- Inline with design principles
- Implications on the design system
Key Metrics
Number of requests
How many requests on average per year (or per quarter)
142 per year
Grand total
The old grand total of these requests:
10b AED
Days to get response
on average, how long it used to take to make a final decision on a particular request?
28 days
Number of emails
On average, an RM used to send 12 to 20 follow up emails in order to communicate (negotiation for better rates, accept or decline a rate, general talk).