Lenco - Business Banking
Visit - Lenco.co
My Role
Lead Product Designer
Collaborators
Olamide Idowu
Oladimeji Olaiwola
Olarenwaju Reno
Company
Lenco
Industry
Finance
Background
Lenco launched in 2021 as a digital-only business bank supporting businesses of all sizes and enabling business owners to create and manage a business current account without visiting a physical outlet and overcoming the hassles of opening an account with the vision of becoming the go-to business bank for all black-owned businesses
I joined the team after the MVP was released and the initial framework used to build the banking system had to be changed so we decided to redesign the onboarding flow and the banking dashboard
Goal
The goal of this particular project was to identify any usability issues with the beta release and redesign the Lenco banking platform to improve the user experience of new and existing Lenco users, deliver customer satisfaction, and faster onboarding for new users, and determine the critical features to prioritize for the next iteration of the product.
My Role & Approach
As the lead designer, I was responsible for optimizing the onboarding flow, redesigning the banking dashboard, and developing UX for new features. First, I had to understand the user goals and needs, take note of the user journey, uncover pain points with the existing MVP, and areas that could be improved to have the greatest impact on helping business owners open an account seamlessly and manage their finances better.
I looked at
Support issues: After working closely with the business support unit and listening to their insights so far and feedback from customers I had a better understanding of the business and operations of Lenco
In-product feedback to learn about the experience of current users and what's top of their mind
Phone calls with existing users to learn more about their specific use cases and to validate open questions we had from business support and feedback
Based on the challenges identified, I worked towards addressing these pains by coming up with potential solutions:
Optimized the onboarding process for new users by Reducing the number of steps to minimize time to completion, surfacing mandatory fields and enabling the Next button to show error validation, establishing a clearer visual form hierarchy by grouping related fields
Created a new design system to guide the team in the design of future products and help new team members catch on faster
Design system
To maintain consistency and ensure efficient design to dev handover, I developed a design system based on reusable components and their states, such as cards, list items, and controls. This has helped to maintain consistency in the look and feel across different parts of the platform and also helped the Engineering and Product teams to understand how and why we choose to implement certain components over others.
Visual solution
Conclusion
This was my first Fintech project, I am thrilled to have worked on providing a better banking experience for businesses. I learned a lot more about payment processes, KYC, and AML. Lenco got into Techstars'21 and Y combinator'22.