Fintech
·
B2B2C
·
2024
·
Product Designer
Investor Experience
Titanbay is a fintech company that offers a digital platform for investing in private markets. The goal of this project was to find a way to provide more clarity and flexibility to users and find a way internally to make this happen.
What The Fees?
Titanbay charges various fees to its users - asset managers and relationship managers (RMs). These various fees can be split in various ways but the total always caps out at 3%. We learned through user interviews that they also charge their investors fees for their services and that there is an increasing demand to do this through the platform as its easier to manage everything in one place.
Internal inflexibility
We learned from conversations with stakeholders in the investor services team that the database for fees could only currently handle pre-set fee agreements, with no room currently for any customisation or flexibility.
Workshopping ideas
We ran a crazy 8s sketching workshop with members of the implementation, operations and data team. The goal was to try and answer 2 key questions:
How Might We provide more flexibility on fees?
How Might We provide better visibility on fees across Titanbay?
We then dot voted on the best ideas and features to see which ideas could potentially solve these problems.
Native fee configuration
I sketched and creates prototypes for a new fee builder, which would slot inside the rest of the onboarding process - which was also being redesigned - as part of the new investor services app.
Full screen vs modal
We tested different variants of allocation request flow with the new fee confirmation screen. Testing revealed the modal was more convenient as the user could easily click in/out of the modal instead of having to backtrack.
Managed inside the platform
All fees can be set up inside of the platform by the investor services team as part of the onboarding process. This gives them full control over fees based on the agreement between the users and Titanbay.
Full control over fees
The user can see the fees when requesting an allocation into a fund. If they want to add custom fees they can do but these will be verified to ensure fees are in-line with the user agreement.
Full Visibility
Fees can now be seen and managed by the user on the platform in a table which shows the fee percentages being charged.
