Tianyu Qiu
Bank of New York Fix Cash Break
Role:
UX Design
Product:
Bank of New York
Fix Cash Break
Focus Area:
UX Design, User Flow, User Usability Testing, Prototype, Stakeholder Interview, Workshops
Business Context & Problem
BNYLEX is a business financial operation platform that manages all the different types of transactions within Bank of New York. The specific feature I designed for is fixing cash break. Cash break only happens when borrowers' actual wire transaction is different with the projected payment. Administrators needs to navigate between three different platforms to find out the reasons for the break and solve them.
Design Challenges
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How to create a centralized experience with the limitation on data flow between multiple platforms?
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How can we reduce admins workload?
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How to minimize admins' frictions using the platform as a one stop shop?
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How does the admins fix cash break today? What are their flows and how to minimize their steps fix cash breaks?
FINAL DESIGN
Approach
Stakeholder Interviews
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Stakeholder interviews: interviews with product owner and cash management leaders to understand admins work flows and how they fix cash break currently.
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Understand how money and data flows through the system
User Flow
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Based on the stakeholder interviews, map out the entire user flow for administrators and data flow to understand how money is moved through different platforms.
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Understand how many different types of cash breaks are there, and how does the admin solve each of them.
Workshops
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Prototyping: Create rapid prototypes and sketches
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Workshops: Host workshops with the admins using the prototypes and sketches to validate and get feedbacks from them.
Capture Requirement
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After validate the features needed, work with product managers to capture all the requirements needed.
Key Insights:
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Administrators need to see all the transaction details, including actual, projection, transaction types, etc.
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There are global and portfolio level cash breaks, in global level, the cause of the cash breaks would be the same, and in portfolio level there could be different causes for each cash breaks.
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They can use the systems auto match functions to fix cash break if the differences are within a certain range.
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They need to match the actual and projection numbers on the agent bank notices.
Design Solution
Prioritization
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prioritize global cash break first, and make sure all the features and scenarios are documented.
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focus on portfolio cash breaks in the second phase, since it's a lot more complicated for solve for.
Manage all tasks
Filter cash break tasks
Follow the same pattern of the LEX platform, and admins can filter cash break tasks. Admins can check their to-do list everyday when they start working.
Then they can click in each task to solve for cash breaks.
Task Detail Page
Global Cash Breaks
This is a view to show all three different types of cash breaks, but usually admin will only see the same type of cash break.
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They will be able to get a summarization of the cause, they can choose to use the system auto match to solve it, or go to Solvas, where the projection data is stored.
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They can also look for Agent Bank Notices to read transaction details, so they can email the agent bank to let them solve on their end.
Porfolio Cash Breaks
Workshop
Participants completed scenarios including:
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Filter global cash break tasks
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Solve global cash breaks using auto match
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Find agent bank notices and email them using the email generator.
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Feedback shaped refined copy, clarified next steps, and improved error states for better completion rates.
Business Impacts
Save Administrators' time on solving cash break issues
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Reduce cash break solution time by 10%
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The rate of completing all tasks by the end of the day increased significantly.
Reflection & Next Steps
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Involve workshop early in the process
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Invite administrators only without their managers, because the conversations are shifted by their managers multiple times, and they are not as engaged when their managers are in the workshop with them.
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