– Workflow Improvements

Nest Wealth

A potential banking client is grappling with a cumbersome and asynchronous book transfer workflow. Within a tight timeframe, we were tasked with presenting an alternative solution that would streamline and reimagine the way they work.

Role
Design Lead

Platform
Web App

Year
2024

Duration
1 Week

So…let's talk about your workflow 😧

So…let's talk about your current workflow

At a high level, when an investment advisor moves from one bank to another, they bring their entire book of clients with them. The bank assigns a dedicated team to manage and oversee this client and investment transfer process.

Through discussions with this team, we mapped out their workflow and identified the pain points experienced by various stakeholders:

When an investment advisor moves from one bank to another, they bring their entire book of clients with them. The bank assigns a dedicated team to manage and oversee this client and investment transfer process.

Through discussions with this team, we mapped out their workflow and identified the pain points experienced by various stakeholders:

Disconnected workflow across teams

Currently, client and investment information is managed using an Excel file that teams email back and forth to update. This fragmented approach results in a lack of real-time data visibility and prevents integration with the bank's wider tech stack.

One-size-fits all approach

Investment advisors, branch managers and members of the transfers team all view this data. However, each group has different data needs based on their roles. For example, branch managers are primarily interested in data specific to their branch. The lack of role-driven customization in data views hinders efficiency and relevance for each stakeholder.

Challenges with static data

The data file circulating via email makes it difficult to difficult to track edits or identify the most recent changes. Moreover, there's a risk of unnoticed data corruption due to this manual handling.

A complex workflow map with several pain points illustrated

Mapping out a plan to deliver value 🗺️

With an understanding of the pain points that exist in the current flow, we mapped out what an ideal workflow and process would contain. More than simply recreating an Excel file in a new piece of software, we wanted to connect teams and use automation to accelerate the transfer process.

The design we looked to present would be:

Unified and integrated solution across teams

Our proposed solution would aim to enable easy access to data for all stakeholders while seamlessly integrating into their existing day to day tech stack.

Role based and configurable

Instead of a one-size-fits-all approach, our solution would provide role-based views by default and empower users to further configure their views according to their needs, ensuring flexibility for any use case.

Update to date, actionable and automated

We would ensure that users always access the latest data with a clear audit trail of any changes. We would also automate updates, notifications and outreach emails to delivery institutions to supercharge workflows.

A complex workflow mapped out with improvements to a workflow shown.

Final designs

A simple and clean looking login screen.

A dashboard with a comprehensive data table and several widgets above it measuring various KPIs.

Zooming in on the details 🔎

Zooming in on the details

Role based views and KPI tracking

Different teams can track their progress against annual AUM and client growth targets. Delivery times for transferring institutions are displayed and updated regularly based on ongoing performance metrics.

A zoomed image of three widgets tracking KPIs.

Comprehensive and actionable data

The data table tracks transfers, displaying book value, elapsed time, and portfolio type. If a transfer exceeds the delivering institution's average delivery time, the system automatically flags it for follow-up.

Creating and saving custom list views

Users can create and save custom list views, offering flexibility and control over the main data table. These views can be kept private or shared across teams.

Two modals showing the ability to create a list view.

Full audit trails and contextual notes

A comprehensive automated audit trail of all client transfer activities is supplemented with the capability to add contextual notes.

Two modals showing an audit trail of transaction progress.

Notifications and follow up

Whenever a transfer is flagged for follow-up—whether automatically or manually—users receive notifications. These notifications provide easily accessible information about the account and delivering institution, enabling prompt action.

Two modals showing notifications and delivery institution information.