Designing & Integrating Digital Wealth Servicing
BOK Financial
Project Overview
At BOK Financial, I led the UX design effort to integrate digital wealth servicing (investment accounts) into the company’s existing consumer banking platform. This initiative aimed to create a seamless user experience for customers to manage their banking and investment accounts in one cohesive platform. The project required balancing user needs, technical constraints, and strategic business goals to deliver a solution that simplified complex financial tasks for customers.
Initial Challenges
When the project began, we faced several challenges:
• Disjointed Experiences: Customers had to navigate separate systems for banking and investment services, leading to confusion and friction. This was further complicated by disparate design elements that were addressed with the development and implementation of a new design language library across the bank’s digital landscape.
• Complex Financial Tasks: Investment servicing, such as portfolio management and account monitoring, involved processes that many users found intimidating or unclear.
• Technical Constraints: Integrating wealth servicing required working within the limitations of the existing banking platform’s architecture while ensuring scalability and compliance with financial regulations.
Methodology
To achieve these objectives, I employed a user-centered design approach:
- User Research
- Conducted interviews and usability tests with current customers to understand pain points and expectations.
- Analyzed behavioral data from the existing platform to identify patterns in user behavior.
- Journey Mapping
- Mapped the end-to-end customer journey, highlighting areas of friction in the current process and opportunities for improvement.
- Mapped the future state ideal user journey for user personas based on research.
- Wireframing & Prototyping
- Created low-fidelity wireframes to conceptualize workflows for investment servicing.
- Developed interactive prototypes to test functionality and gather feedback early in the design process.
- Design System Integration
- Collaborated with the UX team to expand the developing design system, incorporating new components specific to investment servicing.
- Cross-Functional Collaboration
- Worked closely with product managers, developers, and compliance teams to ensure the design met technical, business, and regulatory requirements.
- Managed feature development, release, and iterative improvements in Agile sprints with development team.
Results & Impact
The integration of digital wealth servicing into the banking platform resulted in:
• Increased User Engagement: Adoption of the new investment features exceeded initial projections, with a 30% increase in users engaging with wealth servicing tools within the first six months.
• Improved User Experience: Usability testing post-launch showed a 40% reduction in task completion time for investment-related actions.
• Enhanced Customer Satisfaction: Customer feedback highlighted the convenience of managing banking and investment accounts in one place, improving Net Promoter Score (NPS) by 15 points.
• Scalable Design Solutions: The expanded design system enabled faster iterations for future enhancements, ensuring long-term sustainability of the platform.
Conclusion
This project demonstrated the power of user-centered design to solve complex challenges and deliver impactful, scalable solutions. By unifying banking and investment services, we not only met user needs but also positioned BOK Financial as a leader in digital wealth servicing innovation.