XYZ Financial

A complex tax validation tool for financial enterprises

XYZ first screens transparent w fake shadow

This project is under NDA (non-disclosure agreement). To comply with my confidentiality agreement I have omitted and appropriated confidential information.

Overview

XYZ Financial are a new player in the Fintech game, they provide a tax automation and validation solution for Financial Institutions. I helped them shape their product, brand and user experience.

XYZ Financial are a new player in the Fintech game, they provide a tax automation and validation solution for Financial Institutions.
I helped them shape their product, brand and user experience.

XYZ Financial are a new player in the Fintech game, they provide a tax automation and validation solution for Financial Institutions. I helped them shape their product, brand and user experience.

Role

Product Designer

User research, prototyping,
UI design and strategy.

Results

Attracted investment from a big tech company.

Decreased design to development handoff time.

Created a design system.

Context

Context

Context

Even for those who work in finance, anything tax-related isn't particularly exciting, especially tax forms.

Even for those who work in finance, anything tax-related isn't particularly exciting, especially tax forms.

Even for those who work in finance, anything tax-related isn't particularly exciting, especially tax forms.

Even for those who work in finance, anything tax-related isn't particularly exciting, especially tax forms.

Manually filling out sheet after sheet of tax forms to avoid hefty fines is a costly process that doesn't just affect budgets, but also time spent.

Manually filling out sheet after sheet of tax forms to avoid hefty fines is a costly process that doesn't just affect budgets, but also time spent.

65%

65%

65%

of all tax forms submitted in
a financial year are invalid.

of all tax forms submitted in
a financial year are invalid.

of all tax forms
submitted in a
financial year
are invalid.

of all tax forms submitted in a
financial year are invalid.

$2bn

$2bn

$2bn

is spent on avoidable
regulatory fines each year.

is spent on avoidable
regulatory fines each year.

is spent on avoidable regulatory fines each year.

30%

30%

30%

30%

of daily time spent by highly skilled staff is dedicated to manually validating tax forms.

of daily time spent by highly skilled staff is dedicated to manually validating tax forms.

of daily time spent by highly skilled staff is dedicated to manually validating tax forms.

of daily time spent by highly skilled staff is dedicated
to manually validating tax forms.

My role

Product thinking

Working closely with the founder, head of engineering and lead product owner, I had weekly planning meetings and daily follow-ups to understand business/user requirements, define the priorities and set product goals.

User experience & Design System

User experience & Design System

User experience & Design System

Using design methods to distill complexity and effectively answer problems into an easy to use solution, I created a design system to collaborate with the engineering team, scaling the product with a consistent experience.

Methods and practices

Business requirement gathering, user journey mapping, information architecture, user decision flows, interactive design, rapid prototyping, visual design and usability testing.

Business requirement gathering, user journey mapping, information architecture, user decision flows, interactive design, rapid prototyping,
visual design and usability testing.

Understanding

Tax forms are mostly filled out and validated by hand, even in 2019.
A time-consuming and error-prone activity in an important part of financial organisations.

Tax forms are mostly filled out and validated by hand, even in 2019. A time-consuming and error-prone activity in an important part of financial organisations.

Also, it is a nightmare to keep a trail of what had been filled out, when it had been filled out and what the status of it is.

Key pain points

-   Lack of efficiency
-   Lack of accuracy
-   Absence of paper trail

The users

The users

There are a wide range of people who are involved in the process of tax validation and management. Each group have their own pain points and goals. To better understand the various different characteristics, I mapped out four personas:

There are a wide range of people who are involved in the process of tax validation and management. Each group have their own pain points and goals. To better understand the various different characteristics, I mapped out four personas:

There are a wide range of people who are involved in the process of tax validation and management. Each group have their own pain points and goals. To better understand the various different characteristics,
I mapped out four personas:

01  Rich - Manager
02  Maria - Tax Executive
03  Haydon - Analyst
04  Daniel - System Admin

The target users that we concentrated on for the MVP were Maria and Rich.

Maria S persona
Rich K persona

Existing experience

The product had previously been designed by engineers and while it was functional and logical, using it wasn't a particularly enjoyable experience and it lacked clarity.

The product had previously been designed by engineers and while it was functional and logical, using it wasn't a particularly enjoyable experience
and it lacked clarity.

Validator home redacted

Validator home

Validator results redacted

Validation results

A new experience

A new experience

Taking elements of what previously existed, I created a series of wireframes and prototypes to present to the stakeholders. After a few rounds of feedback we landed on a simple and clean design that detailed each step without overwhelming people.

Taking elements of what previously existed,
I created a series of wireframes and prototypes to present to the stakeholders. After a few rounds of feedback we landed on a simple and clean design that detailed each step without overwhelming people.

This design allowed for scalability as the service would evolve and new features would be introduced.

XYZ Financial – overview highlights v1

Two key aspects when using the product that had come up in testing were that users were unsure of where they were in the process and if they were completing the correct form.

By breaking out sections clearly and showing a persistent progress indicator, I wanted to give the users a sense of control and clarity that they had been lacking previously.

By breaking out sections clearly and showing a persistent progress indicator, I wanted to give the users a sense of control and clarity that they had been
lacking previously.

When users are in the process of selecting a form, they are able to see what the form looks like, what it is used for and how long it would take (on average) to complete.

This functionality aimed to directly tackle issue of time being wasted on completing the incorrect (and subsequently invalid) form.

This functionality aimed to directly tackle issue of time being wasted on completing the incorrect (and subsequently invalid) form.

When actually filling out the forms, consistency and clarity are important factors for our users, it gives them a sense of control; they know what they need to complete,
what they have done and if it is valid or not.

When actually filling out the forms, consistency and clarity are important factors for our users, it gives them a sense of control; they know what they need to complete, what they have done and if it is valid or not.

When actually filling out the forms, consistency and clarity are important
factors for our users, it gives them a
sense of control; they know what they need to complete, what they have done
and if it is valid or not.

I designed a simple yet powerful UI to effectively deliver on these points.

W-8BEN in action

Design system

Design system

Bringing the design process closer to the engineering team really helped to
maintain consistency and ensure efficient handover.

Bringing the design process closer to the engineering team really helped to maintain consistency and ensure efficient handover.

I took principles from the Atomic Design system and Sass conventions
such as - make it modular and think generic.

The below is a select collection of aspects that make up the design system.

I took principles from the Atomic Design system and Sass conventions such as -
make it modular and think generic.

The below is a select collection of aspects that make up the design system.

Design system

Learnings
and insights

Learnings and insights

Learnings
and insights

Optimised processes

Working with short feedback loops and intense collaboration with stakeholders made the progress very much apparent at the end of each iteration. It ensured that assumptions could be validated quickly and allowed for flexibility if we needed to shift direction.

Speaking the same language

Speaking the same language

The benefits that the design system brought about were endless. We had a common product language that encouraged collaboration and avoided misunderstandings.

Flexibility is essential

Flexibility is essential

This project was just the start of a bright and ambitious future for a startup that was attracting a lot of attention. Ensuring that the designs were flexible to adapt to whatever change was on the horizon was key.

My inbox is open πŸ“₯

My inbox is open πŸ“₯

My inbox is open πŸ“₯

My inbox is open πŸ“₯ - valenzuelalouis@gmail.comο»Ώ

Skip the small talk πŸ’ͺ🏽

Skip the small talk πŸ’ͺ🏽

Skip the small talk πŸ’ͺ🏽

Skip the small talk πŸ’ͺ🏽 - Let's talk business

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