Problem
SellersFi is a company/platform that offers loans to stores selling on marketplaces like Amazon, Shopify, and Walmart. To ensure we have all the necessary information about our users and their partners, the onboarding and KYC process requires a significant amount of detail.
However, we understand that this process can be time-consuming and complex, and users may find it challenging to navigate or make errors while completing it.
Process
After we gained a clear understanding of the company's specific needs and expectations, we proceeded by conducting extensive research to collect relevant data and identify specific areas within the organization that required changes and improvements. Throughout this process, we worked closely with the company's representatives to ensure that our prototypes effectively addressed their concerns and incorporated their feedback.
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Competitive Analysis
To conduct a thorough competitive analysis, we carefully scrutinized the steps and fields used by key competitors of SellersFi in their onboarding process. The objective was to identify any gaps or inconsistencies in their approach and to determine if there were any areas where we could improve upon or differentiate ourselves from the competition.
Overall, this competitive analysis provided us with valuable information that helped us to better understand our competitors and our own offerings. By staying ahead of the game and continuously improving our processes, we can ensure that we remain competitive and meet the needs of our users.
Data Analysis
We also analyzed drop-out rates and page load times to determine where users experienced the most issues or spent the most time. In addition, we conducted an internal survey with the operations team, reviewed feedback and suggestion pages, to identify the most challenging pieces of information for users to provide, those that took the most time, and those that were most likely to be incorrect by the end of the process.
Through our analysis, we were able to identify several distinct points where certain platforms requested data well after the dashboard and loan product selection, which best suited the user's profile. These insights allowed us to refine our own onboarding process and create a more seamless experience for our users. In addition, we were able to assess how our competitors were aligning with our business rules and make adjustments as needed.
Solutions
SellersFi's onboarding consists of several steps, including providing company information, partner details, ownership planning, and connecting with the marketplace (like Amazon, Shopify and Walmart) that the user utilizes for selling and intends to request a loan from. I collaborated with the CTO, Product Manager, and Engineers to develop enhancements for the existing platform onboarding process, with the aim of making it more efficient and streamlined.
SellersFi was in the process of rebranding, and as a result, the new design system components were being finalized. This was the perfect time to implement them and save time for future versions.
The changes included replacing colors, fonts, spacing, and buttons, as well as unifying components like fields, progress bars, tabs, pop-ups, among others.
During the process, it was necessary to remove certain information, while other pieces of information were removed and added in another part of the process. Additionally, certain fields and pieces of information were adjusted and modified in order to improve user comprehension and clarity, taking into account the country of origin and the local laws applicable to each user.
These changes were made with the aim of providing a more tailored and user-friendly experience for each individual user, ensuring that they are able to navigate the process with ease and confidence.
In order to prevent errors that were identified through feedback, we made several changes to the user interface. We added explanatory texts and pop-up windows that provided additional information to help guide the user. Additionally, we made it easier for users to get human support when they needed it. This support was optimized to provide quick responses to user queries, allowing them to move through the process with greater speed and efficiency.
Prototyping
Some Figma work:
Below are some examples of how screen components were replaced:
These are some of the screens that will be presented in the final product:
Project Successes 👏
The final design effectively decreased the amount of incorrect data by 37%, while maintaining a similar speed of processing with a slight 5% improvement. Moreover, the number of users who completed the process increased by 32.4%, resulting in a higher rate of loan applications with accurate data and an 18% increase in conversion rates during the initial months.
Contact
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