FINANCIAL ECOSYSTEM FOR THESMALL AND MEDIUM ENTERPRISE SEGMENT
FINANCIAL ECOSYSYTEM FOR SMEs
-
-
overview
NIYOGIN solves real problems that small businesses face for their financial needs every day.
Whether it is collateral free access to credit for working capital, financing small projects, expanding businesses or purchasing inventory.
Working through an efficient ecosystem of people and technology, they deliver timely access to credit with flexible tenures and at reasonable interest rates.
-
brief
As design partners, we were expected to analyse Niyogins business goals, and undertake extensive user research to devise an efficient and streamlined design strategy for their product offerings.
Developing user journeys that integrate physical components with the digital ecosystem to create an true omnichannel system was our prime goal.
-
challenge
An ecosystem development comes with its own challenges of looking at different user segments and then creating a unified experience guideline.
Some of the digital artefacts we created were their Corporate Website, User Portals (Partner, Customer and Employee), Loan Origination Journey, Partner Microsite, Videos for communication
As the model was unique it pushed us to imagine the workflows from scratch without any reference points.
-
strategy
Our aim, throughout, has been to declutter an otherwise tedious journey, with cutting edge digital tools, highly customized products, and personalized intervention - all culminating into a delightful customer experience.
Also research, continuous learning and agility were two pillars on which we based our design journey.
With robust and modular framework provided by Liferay we were able to quickly go to market and test our hypothesis and do course corrections.
-
innovation
Since the platform and the concept itself was very new to India, it got the best out of us. With so much happening in the financial space it was hard to stay away from the typical mindset of online financial journeys.
Innovation lied in creating a living and breathing digital ecosystem which in turn powered the business model. This creation of digital ecosystem was built inside out which allowed the business to quickly adapt to the changing market conditions.
DONT BEAT AROUND THE BUSH. GET STRAIGHT TO THE POINT
A friend in need is a friend indeed. Niyogin wanted to come across as a sensible and a quick solution to other wise complicated world of SME loaning mechanism in India. It starts the journey with immediate call to action.
TAILORED EXPERIENCES TO DELIVER FASTER AND EFFICIENT JOURNEYS
Intuitiveness and alignment to mental models are basis of Experience design. With varied user bases and challenges to align to different literacy levels across India it allowed us to create specialised user journeys.
BUILDING TRUST THROUGH DESIGN
Reliability, dependability, honesty, with unimpeachable integrity is what Niyogin wanted to deliver its partners, customers or employees. The design language was made such that it instils an immidiate sense of trust.
EASY PREMPTIVE AND MOBILE FIRST INTERFACES
The screens are designed to pre-empt users behaviour and builds actions based on data. Mobile first approach to design for Niyogin was the first choice due to the demographic that it serves.
USING RICH VISUALISATION TECHNIQUES TO DRIVE ENGAGEMENT
Visualisation is one of the age old but yet effective techniques of delivering crisp information. Niyogin uses a variety of data visualisation models to make it easy for its audience to consume information.
BEAUTY LIES IN SMALLER DETAILS
Interaction design is tricky. It rewards you most when it is unseen and users goes through the journeys seamlessly. Smaller nuances of interface design were thought of so that Niyogins users get feedback from the interface in the most convenient and non intrusive manner.
MAKE IT CONVENINENT AND VISIBLE
Long journeys were made visible. This allowed users to transparently see through the system thereby sub-consciously building trust in users mind. Also long forms was unavoidable due to the nature of business and breaking it down helped users go through it with ease.
BUILDING INFORMATION AFFINITY MODELS TO REDUCE CLICKS
Crisp communication with contextual information right upfront reduces the number of clicks in a user journey. The most likely query is clubbed with most likely information user is seeking.
LEVERAGING UI PATTERNS TO DELIVER BETTER USABILITY
Using a known pattern which users have encountered in the past amplifies the usability. We borrowed the card based system from googles material design and built upon it.
WITH THOUGHT AND CARE
-
PARTNER ONBOARDING
Niyogins business model revolves around partner ecosystem. Their network of Chartered Accountants needed to be onboarded on to the platform through the sales channel. We developed both the foot on sales as well as self onboarding modules for this part of the business.
-
PARTNER PORTAL
Each partner onboarded gets an access to their exclusive portal from where they can manage the SMEs onboarding, their loan underwriting and management. This allows the partners to run this as their parallel business and profit centre.
-
LOAN MANAGEMENT PLATFORM
Once the loan is disbursed into the clients account it has to be managed for payments. Niyogins client portal allows SMEs to manage their whole lifecycle and relationship with Niyogin. It allows you to track, repay and also originate additional loans.
-
LEAD GENERATION PORTAL
Fractal developed the whole portal which allowed users and potential partners to know about the model and also drop a lead.
The website allowed its customers to completely originate a loan request completely online.
-
MARKETING VIDEOS AND TUTORIALS
Fractal helped Niyogin create a variety of marketing material which can be used by the sales and marketing team.
We also developed a series of tutorial videos and printed material design which helped partners and Clients to understand the platform and get upto speed.
-
0
cups of coffee
-
0
blinks per hour
-
0
laptop charges
-
0
social gatherings ignored
-
0
hours of travel
