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Bridging the Gap between Banks and Merchants: A case study of designing a POS approval solution
Bridging the Gap between Banks and Merchants: A case study of designing a POS approval solution
Bridging the Gap between Banks and Merchants: A case study of designing a POS approval solution
Bridging the Gap between Banks and Merchants: A case study of designing a POS approval solution
Bridging the Gap between Banks and Merchants: A case study of designing a POS approval solution
Bridging the Gap between Banks and Merchants: A case study of designing a POS approval solution
Video showing solution preview
Video showing solution preview
4 Months
Timeline
Product Designer
Role
4 Months
Timeline
Product Designer
Role
Introduction
Introduction
Virtual accounts and POS devices have become an essential tool for businesses today. However, the existing process of approving POS requests and generating virtual accounts for business is time-consuming and inefficient. In this article, I’d document my thought process for providing a solution for a bank that needs a solution that aids the approval or rejection of terminal requests and generates virtual accounts for approved merchants.
Virtual accounts and POS devices have become an essential tool for businesses today. However, the existing process of approving POS requests and generating virtual accounts for business is time-consuming and inefficient. In this article, I’d document my thought process for providing a solution for a bank that needs a solution that aids the approval or rejection of terminal requests and generates virtual accounts for approved merchants.
Keywords
Keywords
Here are a couple of keywords used in this case study and their meaning:
Here are a couple of keywords used in this case study and their meaning:
1
POS Device
A POS device is an elecronic machine through which a customer pays a merchant. They are also called Terminals.
1
POS Device
A POS device is an elecronic machine through which a customer pays a merchant. They are also called Terminals.
1
POS Device
A POS device is an elecronic machine through which a customer pays a merchant. They are also called Terminals.
1
POS Device
A POS device is an elecronic machine through which a customer pays a merchant. They are also called Terminals.
1
POS Device
A POS device is an elecronic machine through which a customer pays a merchant. They are also called Terminals.
2
POS ID
It is a unique identifier attached to these POS devices.
2
POS ID
It is a unique identifier attached to these POS devices.
2
POS ID
It is a unique identifier attached to these POS devices.
2
POS ID
It is a unique identifier attached to these POS devices.
2
POS ID
It is a unique identifier attached to these POS devices.
3
Merchants
They are the people who sell goods/services, who in this case is a customer of the bank.
3
Merchants
They are the people who sell goods/services, who in this case is a customer of the bank.
3
Merchants
They are the people who sell goods/services, who in this case is a customer of the bank.
3
Merchants
They are the people who sell goods/services, who in this case is a customer of the bank.
3
Merchants
They are the people who sell goods/services, who in this case is a customer of the bank.
4
Virtual Accounts
They are online bank accounts that can only recieve money and collect sender information but can not hold a balance.
4
Virtual Accounts
They are online bank accounts that can only recieve money and collect sender information but can not hold a balance.
4
Virtual Accounts
They are online bank accounts that can only recieve money and collect sender information but can not hold a balance.
4
Virtual Accounts
They are online bank accounts that can only recieve money and collect sender information but can not hold a balance.
4
Virtual Accounts
They are online bank accounts that can only recieve money and collect sender information but can not hold a balance.
Goal
Goal
1
Streamline POS Device Approvals and Rejections
Create a streamlined process for the bank that ensures the quick approval and rejection of the POS device request
1
Streamline POS Device Approvals and Rejections
Create a streamlined process for the bank that ensures the quick approval and rejection of the POS device request
1
Streamline POS Device Approvals and Rejections
Create a streamlined process for the bank that ensures the quick approval and rejection of the POS device request
1
Streamline POS Device Approvals and Rejections
Create a streamlined process for the bank that ensures the quick approval and rejection of the POS device request
1
Streamline POS Device Approvals and Rejections
Create a streamlined process for the bank that ensures the quick approval and rejection of the POS device request
Getting Insights
Getting Insights
I conducted one-on-one interviews with bank administrators to design a product addressing specific pain points. Here are my key findings:
I conducted one-on-one interviews with bank administrators to design a product addressing specific pain points. Here are my key findings:
1
Manual Work Overload
The manual Process of handling POS requests were time-consuming
1
Manual Work Overload
The manual Process of handling POS requests were time-consuming
1
Manual Work Overload
The manual Process of handling POS requests were time-consuming
1
Manual Work Overload
The manual Process of handling POS requests were time-consuming
1
Manual Work Overload
The manual Process of handling POS requests were time-consuming
2
Poor Communication
Poor communication due to the manual work overload caused delays and misunderstanding, harming the trust between the merchant and the bank
2
Poor Communication
Poor communication due to the manual work overload caused delays and misunderstanding, harming the trust between the merchant and the bank
2
Poor Communication
Poor communication due to the manual work overload caused delays and misunderstanding, harming the trust between the merchant and the bank
2
Poor Communication
Poor communication due to the manual work overload caused delays and misunderstanding, harming the trust between the merchant and the bank
2
Poor Communication
Poor communication due to the manual work overload caused delays and misunderstanding, harming the trust between the merchant and the bank
Task Flow
Task Flow
The bank module's primary goal is to create a streamlined process for the bank to handle terminal requests. So, the first step was to create a flow that addressed this:
Solutions
Solutions
1
Dashboard
The thought process behind this screen was to allow the users to do the following:
- Have a concise breakdown of merchants, pending requests, and total revenue from all merchant's accounts.
- And view recent transactions in an easy-to-understand table without having information appear too bulky.
2
Terminal Requests
When a merchant requests a terminal through their account, the bank reviews and approves it, creating a unique terminal ID. At the same time, a virtual account number is automatically generated and linked to the terminal. This simplifies the process for bank staff and makes managing terminal accounts more efficient.
2
Terminal Requests
When a merchant requests a terminal through their account, the bank reviews and approves it, creating a unique terminal ID. At the same time, a virtual account number is automatically generated and linked to the terminal. This simplifies the process for bank staff and makes managing terminal accounts more efficient.
2
Terminal Requests
When a merchant requests a terminal through their account, the bank reviews and approves it, creating a unique terminal ID. At the same time, a virtual account number is automatically generated and linked to the terminal. This simplifies the process for bank staff and makes managing terminal accounts more efficient.
2
Terminal Requests
When a merchant requests a terminal through their account, the bank reviews and approves it, creating a unique terminal ID. At the same time, a virtual account number is automatically generated and linked to the terminal. This simplifies the process for bank staff and makes managing terminal accounts more efficient.
2
Terminal Requests
When a merchant requests a terminal through their account, the bank reviews and approves it, creating a unique terminal ID. At the same time, a virtual account number is automatically generated and linked to the terminal. This simplifies the process for bank staff and makes managing terminal accounts more efficient.
Did Our Solution Work
Did Our Solution Work
Yes it did.The bank has been able to achieve the following benefits as a result of our solution:
Yes it did.The bank has been able to achieve the following benefits as a result of our solution:
1
Enhanced staff productivity by 35% through reduced processing time for approving POS requests and virtual accounts assigning.
1
Enhanced staff productivity by 35% through reduced processing time for approving POS requests and virtual accounts assigning.
1
Enhanced staff productivity by 35% through reduced processing time for approving POS requests and virtual accounts assigning.
1
Enhanced staff productivity by 35% through reduced processing time for approving POS requests and virtual accounts assigning.
1
Enhanced staff productivity by 35% through reduced processing time for approving POS requests and virtual accounts assigning.
2
Improved merchant experience, which led to better business partner relationships and enhanced business growth.
2
Improved merchant experience, which led to better business partner relationships and enhanced business growth.
2
Improved merchant experience, which led to better business partner relationships and enhanced business growth.
2
Improved merchant experience, which led to better business partner relationships and enhanced business growth.
2
Improved merchant experience, which led to better business partner relationships and enhanced business growth.
3
A 15% increase in terminal requests
This increase was a direct result of our solution's ability to streamline the process of requesting and assigning terminals, which made it easier and faster for merchants to apply for and receive them.
3
A 15% increase in terminal requests
This increase was a direct result of our solution's ability to streamline the process of requesting and assigning terminals, which made it easier and faster for merchants to apply for and receive them.
3
A 15% increase in terminal requests
This increase was a direct result of our solution's ability to streamline the process of requesting and assigning terminals, which made it easier and faster for merchants to apply for and receive them.
3
A 15% increase in terminal requests
This increase was a direct result of our solution's ability to streamline the process of requesting and assigning terminals, which made it easier and faster for merchants to apply for and receive them.
3
A 15% increase in terminal requests
This increase was a direct result of our solution's ability to streamline the process of requesting and assigning terminals, which made it easier and faster for merchants to apply for and receive them.
