Fintech with Unisyn
Overview
Your Finance Company(YFC) is a startup that primarily focuses on providing commercial loan services to small and medium-sized businesses. In the context of deals, YFC plays a pivotal role as a broker, responsible for connecting applicants with lenders.
The company aims to create a B2B SaaS AI-powered product ecosystem called Unisyn to speed up the lending process.
Role
UI/UX Designer | May 2023 - Sep 2023
UX Director | Sep 2023 - Nov 2023
Responsibility
Defining & ideating
Prototyping & iterating
Filter materials for the design team
Lead the design
Tools
Figma, Xmind, Wix, Monday CRM, JIRA
Duration
6 months
Empathy
Industry Background
Team & Research
Product Goal
Industry Background
What advantages make SME loan companies a preferable choice over major banks?
Faster Approval
Major banks take a month for approval, but small and medium-sized enterprise loan companies can respond within 2 days or even 2 hours.
Personalized Service
Since SME loan companies play the role of brokers in the deal, the matching process will be relatively accurate.
Startup-Friendly
Due to differences in capital size, it's easier for startup companies to apply for loans with SME loan companies.
Team & Research
The team doesn't need to be large, but it must be capable of conducting a thorough and comprehensive analysis of the situation and effectively addressing issues.
To successfully execute this project, we require the expertise of professionals from various domains. This encompasses lending and banking relations, information engineering, AI training, development, and design.
Our team includes individuals with 20 years of experience in specific fields, as well as recent graduates embarking on their first jobs. We have newcomers to the finance sector, AI enthusiasts, and aspiring entrepreneurs.
Within this diverse mix, we all learn from each other.
Define
User personas
User flow
Problem statement
Persona
3 different parties participating in small or medium-sized enterprise (SME) loans
Sophia Kiera
Applicant
Small or medium-sized enterprise (SME) that seeking financing to support its growth or operational needs
Lauren Wilson
Broker
Match deals between applicants and lenders and facilitate connections between them
Robbie Reed
Lender
Financial institution or individual who provides funds to businesses or individuals
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Take a Closer Look
Problem Statement
How might we design a comprehensive AI-powered B2B SaaS platform that connects loan applicants, brokers, and lenders in the field of SME loans with the aim of expediting the loan underwriting process?
Ideate
Product Features
Challenges
Product Features
What features make up Unisyn accomplish its goals?
CRM Portal
We need a portal where users can select their account type upon registration. Each account type will have a different view.
Security Cloud Drive
When applicants fill out the application, they need to upload files. During the subsequent review process, brokers and lenders may request file uploads from applicants.
Customizable Form
Different companies typically have different terms and conditions. Customizable forms can meet the diverse contract requirements of various companies for different types of loans.
Background Check API
Brokers often require a significant amount of time to review an applicant's background and the conformity of the submitted documents. Algorithms can speed up this process.
AI Deal Rating
In deal processing, lenders have numerous metrics to decide whether to move forward. Algorithms can quickly check the deal quality by using API data, which saves time.
AI Deal Matching
Different lenders have specific requirements for applicants, and some might only accept specific loan types. Algorithms can assist brokers in quickly identifying the most suitable lender.
Challenges
Navigating from 0 to 1 is filled with challenges,
and I'm committed to finding a path that aligns with the organization.
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Prototype
High fidelity prototyping
Design System Iteration
High fidelity prototyping
One of the investors saw a few prototypes I created and immediately decided to invest $400,000 in the company. This signified that the market demand had been proven. Now the goal is to rapidly develop the MVP and deliver value to the customers.
While the goal of the MVP is to release the PC version first, during the design phase, I also make sure to communicate with the development department to ensure that the design can be applied to future mobile versions.
Design System Iteration
Due to commitments to investors, the MVP's timeline was tightly packed. Consequently, my focus shifted primarily to information architecture. Additionally, the designers who joined later were assigned to other tasks. Eventually, we had to utilize an existing open-source UI library to save production time.
We conducted research on various open-source UI libraries such as Material Design, Ant Design, Fluent Design, Carbon Design, etc. After careful consideration, we opted for Material Design.
Reflection
Takeaway
