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2500+
External Clients
+95%
Straight Through Processing Rate (STP)

The client is an American investment banking services holding company headquartered in New York City, is the world’s largest custodian bank and securities services company. It serves global communities in capital markets, liquidity, digital assets, investment management, treasury services and wealth management. 

Challenge

The client has a web-based application that supports several channels for payment initiation, approval, exception handling, reporting, and payment template creation. The bank client processes more than $2 trillion in payments per day for mainly institutional clients, but the experience was not uniform across different payment types and channels.  

Users had to use multiple screens and navigating several clicks to complete payments in a user journey the client felt was not effective. They were looking to establish a strategic vision to support a three-year roadmap for a unified platform experience that supports the goals of clients and internal operations.  

Solution

The client turned to Orion where our Experience Design experts began to establish a plan. Our team sought to establish a customer-centric culture by providing a superior and intuitive client experience across all the payments products, channels, and client touchpoints. By adopting a human-centric design framework through core client research and content strategies, our team helped deliver end-state journey maps and a more fluid client experience across personas.  

Our team focused on 6 key elements of the application and user journey:  

  • Onboarding: The steps to getting a new customer started should be clear, easy, and intuitive  
  • Payment Process: Sending money should be a simple, fast, and secure process.  
  • Clarity: The experience needs to clear, comfortable, and transparent so users are happy to use it  
  • Self Service: Provide tools for customers to address issues quickly  
  • Bulk Functions: Empower users to perform related tasks quickly and efficiently  
  • Reporting & Dashboards: Data should be accessible, visual, and useful to derive relevant insights to make smart decisions. 

Impact

The new human-centric payments management experience has improved their processing rates and is allowing the bank to better serve all their clients. The improvements have also helped unify the experience across different channels, products, and business of their treasury services.  

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