Overview
Advancly
Simplifying the onboarding process for business prospects
My Role
Product Designer
Duration
Aug 2020 - July 2021
Fintech
B2B
Web Application
Advancly
Fast-growing fintech company empowering businesses to become digital lenders.
Problem
Providing credit to beneficiaries through businesses required us to conduct extensive KYC on every business we onboarded. However, the Credit Assessment team faced significant obstacles as this process was manual. They spent months communicating with prospects via email and evaluating them using separate Excel spreadsheets. This method led to chaotic data collection, prolonged onboarding processes, and a high churn rate among prospects.
Result
we successfully onboarded 6 major businesses and facilitated the extension of over $1 million in credit to 10,000 beneficiaries in Nigeria.
2 Wks
The average time to onboard and vet a business has significantly decreased to 2 weeks. Previously, the process took 2 months.
40+
New businesses successfully onboarded and vetted in 6 countries.
$60m+
Over 50,000 beneficiaries received accessible loans in the past 18 months.
Design Workshop
The first step involved collaborating with senior product manager to bring together the Sales, Business Operations, Credit Assessment, and Engineering teams. Together, we mapped out our current process to ensure everyone was on the same page.
Key Insights
Business Onboarding Process
Business onboarding was a two-step process. Initially, prospective businesses needed to fill out forms, complete an eligibility test, and upload necessary documents. Following this, engagement documents were extended to them.
Addressing Prospect Churn Due to Platform Access
Business onboarding was a two-step process. Initially, prospective businesses needed to fill out forms, complete an eligibility test, and upload necessary documents. Following this, engagement documents were extended to them.
Grading System's Onboarding Impact
The Credit Assessment team relied on a grading system to evaluate prospective businesses, which significantly influenced their onboarding decisions.
How Might We Statements
The primary questions we brainstormed on while designing the onboarding feature were:
Statements
1.
How might we design an experience that earns and reflects the trust we seek from our prospects?
2.
How might we streamline the evaluation process for our Credit Assessment team?
Design Sprint
Onboarding Flow
After aligning the team on our objectives, I developed a comprehensive end-to-end onboarding flow. Collaborating closely with the engineering and product teams, we iteratively refined the flow to create an implementation-ready experience within three 2-week sprints.
Solution
To achieve the seamless experience we had planned, I designed two complementary modules: the onboarding module for new prospects on the Business Platforms, and the corresponding module for our Credit Assessment team on the Admin platform.
Key Insights
The Business Platform
KYC processes were transitioned to an in-app environment. This required designing an onboarding module capable of handling document uploads, graded questions, and more. Introducing a sandbox environment allowed new prospects to experience the product firsthand, enabling them to save progress, track status, and collaborate with team members during onboarding.
The Sign up and Onboarding Process
The Receiving and Signing SLAs
The Admin Platform
The Admin module was designed to replicate the processes we had established for the business prospects
Onboarding Pipeline
Admins have visibility into all newly registered businesses and their progress through the onboarding process, serving as a valuable tool for the customer support team.
Business View
Admins can access comprehensive business information and documents in a centralized location. The system automatically grades each prospect based on preset eligibility questions that are weighted accordingly.
Customisable Questions
The Credit Assessment team's grading criteria for businesses could evolve over time, necessitating flexibility in question management. Admins have the capability to adjust and weight questions directly from the Onboarding settings to accommodate these changes dynamically.
Customisable Documents
Similarly to the questions, admins can specify the types of documents and document formats they require businesses to upload.
Result
we successfully onboarded 6 major businesses and facilitated the extension of over $1 million in credit to 10,000 beneficiaries in Nigeria.
2 Wks
The average time to onboard and vet a business has significantly decreased to 2 weeks. Previously, the process took 2 months.
40+
New businesses successfully onboarded and vetted in 6 countries.
$60m+
Over 50,000 beneficiaries received accessible loans in the past 18 months.
Takeaways
From concept to creation
As the founding product designer at Advancly, my role centered on developing products from 0 to 1. I became highly skilled at embracing ambiguity, mapping out workflows, and quickly creating concepts for validation.
Leveraging stakeholder contribution
Getting churned businesses to participate in research calls was nearly impossible. Collaborating with internal teams such as Sales, Credit Assessment, Business Operations, and Engineering to map out the current new prospect journey proved to be highly insightful and immensely valuable.
Overview
Advancly
Simplifying the onboarding process for business prospects
My Role
Product Designer
Duration
Aug 2020 - July 2021
Fintech
B2B
Web Application
Advancly
Fast-growing fintech company empowering businesses to become digital lenders.
Problem
Providing credit to beneficiaries through businesses required us to conduct extensive KYC on every business we onboarded. However, the Credit Assessment team faced significant obstacles as this process was manual. They spent months communicating with prospects via email and evaluating them using separate Excel spreadsheets. This method led to chaotic data collection, prolonged onboarding processes, and a high churn rate among prospects.
Result
we successfully onboarded 6 major businesses and facilitated the extension of over $1 million in credit to 10,000 beneficiaries in Nigeria.
2 Wks
The average time to onboard and vet a business has significantly decreased to 2 weeks. Previously, the process took 2 months.
40+
New businesses successfully onboarded and vetted in 6 countries.
$60m+
Over 50,000 beneficiaries received accessible loans in the past 18 months.
Design Workshop
The first step involved collaborating with senior product manager to bring together the Sales, Business Operations, Credit Assessment, and Engineering teams. Together, we mapped out our current process to ensure everyone was on the same page.
Key Insights
Business Onboarding Process
Business onboarding was a two-step process. Initially, prospective businesses needed to fill out forms, complete an eligibility test, and upload necessary documents. Following this, engagement documents were extended to them.
Addressing Prospect Churn Due to Platform Access
Business onboarding was a two-step process. Initially, prospective businesses needed to fill out forms, complete an eligibility test, and upload necessary documents. Following this, engagement documents were extended to them.
Grading System's Onboarding Impact
The Credit Assessment team relied on a grading system to evaluate prospective businesses, which significantly influenced their onboarding decisions.
Solution
To achieve the seamless experience we had planned, I designed two complementary modules: the onboarding module for new prospects on the Business Platforms, and the corresponding module for our Credit Assessment team on the Admin platform.
Key Insights
The Business Platform
KYC processes were transitioned to an in-app environment. This required designing an onboarding module capable of handling document uploads, graded questions, and more. Introducing a sandbox environment allowed new prospects to experience the product firsthand, enabling them to save progress, track status, and collaborate with team members during onboarding.
The Sign up and Onboarding Process
The Receiving and Signing SLAs
The Admin Platform
The Admin module was designed to replicate the processes we had established for the business prospects
Onboarding Pipeline
Admins have visibility into all newly registered businesses and their progress through the onboarding process, serving as a valuable tool for the customer support team.
Business View
Admins can access comprehensive business information and documents in a centralized location. The system automatically grades each prospect based on preset eligibility questions that are weighted accordingly.
Customisable Questions
The Credit Assessment team's grading criteria for businesses could evolve over time, necessitating flexibility in question management. Admins have the capability to adjust and weight questions directly from the Onboarding settings to accommodate these changes dynamically.
Customisable Documents
Similarly to the questions, admins can specify the types of documents and document formats they require businesses to upload.
Result
we successfully onboarded 6 major businesses and facilitated the extension of over $1 million in credit to 10,000 beneficiaries in Nigeria.
2 Wks
The average time to onboard and vet a business has significantly decreased to 2 weeks. Previously, the process took 2 months.
40+
New businesses successfully onboarded and vetted in 6 countries.
$60m+
Over 50,000 beneficiaries received accessible loans in the past 18 months.
Takeaways
From concept to creation
As the founding product designer at Advancly, my role centered on developing products from 0 to 1. I became highly skilled at embracing ambiguity, mapping out workflows, and quickly creating concepts for validation.
Leveraging stakeholder contribution
Getting churned businesses to participate in research calls was nearly impossible. Collaborating with internal teams such as Sales, Credit Assessment, Business Operations, and Engineering to map out the current new prospect journey proved to be highly insightful and immensely valuable.
Overview
Advancly
Simplifying the onboarding process for business prospects
My Role
Product Designer
Duration
Aug 2020 - July 2021
Advancly
Simplifying the onboarding process for business prospects
My Role
Product Designer
Duration
Aug 2020 - July 2021
Fintech
B2B
Web Application
Advancly
Fast-growing fintech company empowering businesses to become digital lenders.
Problem
Providing credit to beneficiaries through businesses required us to conduct extensive KYC on every business we onboarded. However, the Credit Assessment team faced significant obstacles as this process was manual. They spent months communicating with prospects via email and evaluating them using separate Excel spreadsheets. This method led to chaotic data collection, prolonged onboarding processes, and a high churn rate among prospects.
Result
we successfully onboarded 6 major businesses and facilitated the extension of over $1 million in credit to 10,000 beneficiaries in Nigeria.
2 Wks
The average time to onboard and vet a business has significantly decreased to 2 weeks. Previously, the process took 2 months.
40+
New businesses successfully onboarded and vetted in 6 countries.
$60m+
Over 50,000 beneficiaries received accessible loans in the past 18 months.
Design Workshop
The first step involved collaborating with senior product manager to bring together the Sales, Business Operations, Credit Assessment, and Engineering teams. Together, we mapped out our current process to ensure everyone was on the same page.
Key Insights
Business Onboarding Process
Business onboarding was a two-step process. Initially, prospective businesses needed to fill out forms, complete an eligibility test, and upload necessary documents. Following this, engagement documents were extended to them.
Addressing Prospect Churn Due to Platform Access
Business onboarding was a two-step process. Initially, prospective businesses needed to fill out forms, complete an eligibility test, and upload necessary documents. Following this, engagement documents were extended to them.
Grading System's Onboarding Impact
The Credit Assessment team relied on a grading system to evaluate prospective businesses, which significantly influenced their onboarding decisions.
Solution
To achieve the seamless experience we had planned, I designed two complementary modules: the onboarding module for new prospects on the Business Platforms, and the corresponding module for our Credit Assessment team on the Admin platform.
Key Insights
The Business Platform
KYC processes were transitioned to an in-app environment. This required designing an onboarding module capable of handling document uploads, graded questions, and more. Introducing a sandbox environment allowed new prospects to experience the product firsthand, enabling them to save progress, track status, and collaborate with team members during onboarding.
The Sign up and Onboarding Process
The Receiving and Signing SLAs
The Admin Platform
The Admin module was designed to replicate the processes we had established for the business prospects
Onboarding Pipeline
Admins have visibility into all newly registered businesses and their progress through the onboarding process, serving as a valuable tool for the customer support team.
Business View
Admins can access comprehensive business information and documents in a centralized location. The system automatically grades each prospect based on preset eligibility questions that are weighted accordingly.
Customisable Questions
The Credit Assessment team's grading criteria for businesses could evolve over time, necessitating flexibility in question management. Admins have the capability to adjust and weight questions directly from the Onboarding settings to accommodate these changes dynamically.
Customisable Documents
Similarly to the questions, admins can specify the types of documents and document formats they require businesses to upload.
Result
we successfully onboarded 6 major businesses and facilitated the extension of over $1 million in credit to 10,000 beneficiaries in Nigeria.
2 Wks
The average time to onboard and vet a business has significantly decreased to 2 weeks. Previously, the process took 2 months.
40+
New businesses successfully onboarded and vetted in 6 countries.
$60m+
Over 50,000 beneficiaries received accessible loans in the past 18 months.
Takeaways
From concept to creation
As the founding product designer at Advancly, my role centered on developing products from 0 to 1. I became highly skilled at embracing ambiguity, mapping out workflows, and quickly creating concepts for validation.
Leveraging stakeholder contribution
Getting churned businesses to participate in research calls was nearly impossible. Collaborating with internal teams such as Sales, Credit Assessment, Business Operations, and Engineering to map out the current new prospect journey proved to be highly insightful and immensely valuable.