UX Discovery: Streamlining Enterprise KYC
The goal is to streamline the time-consuming manual Enterprise KYC process to improve retention and efficiency. Simplifying the process can enhance merchant experience and internal efficiency, though further investigation is needed, with a focus on compliance and minimising friction
problem
Inefficient manual risk assessment during Enterprise onboarding. This causes issues; on KYC progress, blockers amongst team members, and slow onboarding.
User story
I want a trusted payment gateway, that feels seamless and trustworthy.
The goal
Solve merchant/internal pain with time-consuming, manual Enterprise KYC.
Scope
Macro
working groups
We spoke across the risk, onboarding and sales team, that all contributed to this.
Key findings
Throughout working groups, speaking to stakeholders we found that:
01
Merchants lack clarity on KYC progress.
02
The KYC process is manual/time-consuming
03
No effective communication channel for merchants
03
Merchants drop off high, onboarding low - Tickets pile up
Who is our user?
After countless discussions in our working groups, one question kept coming up: Who exactly are we designing for? We were eager to put our users at the heart of our solution, but there was one major hurdle—we weren’t getting any interviews. No direct voices. No clear feedback.
James Philip
48, Cape Town
Business owner
I’m eager to streamline the onboarding process for my new business and employees. My focus is on efficiency, so I’m looking for a quick and straightforward approval process that minimizes any potential struggles.
Current state
KYC proccess is long, manual and frustrating internally. Not sure what the merchants want. Teammates are unsure where merchants are in phases, no centralisation and one source of truth.
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Seamless and Effortless KYC Process: "I recently used a payment gateway that had a tedious and confusing onboarding process. I want a clear process showing exactly what step i’m on and not have to guess.”
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Instilling Trust: “I want to feel that I can trust a gateway with my money along with my decisions I feel is best for my business.
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Supportive Experience: I would love to have one or two trusted people to walk me through this process.”
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"I hate long processes, I want a quick and seamless process onboarding to a payment gateway
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"I need to know who to reach out to, it gets frustrating speaking to multiple people
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"I need to know the WHY to the decline documents, nothing frustrates me more than feeling helpless and abandoned in the proccess.
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"I hate having to many blockers along the way, I want to feel assured that if I fail to upload the wrong documents that there would be constant communication.”
Progress
We need to create one source of truth, for the merchant to see - speak about team responsibilities. Feel merchants pain first
Outcome
Faster, automated process. Less merchant frustration
Job-to-be done
How can we address this gap passively?
Not causing too much shift between pods, I had to brainstorm ways to figure out what we can do as a quick solution to solve merchants pains as well as internal team members.
the gap.
We needed to figure out that gap - Where James, our merchant, isn't aware of where he is in his onboarding journey. Steven is busy, so he needs to obtain all the information he can in order to make his journey more clear.
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He hardly checks emails, but he frequently uses the dashboard
* Implement a dashboard progress tracker.
* Explore automating parts of enterprise KYC (like SME).
* Streamline UBO data collection early.
* Educate merchants on KYC.
* Consider limited initial dashboard access with clear KYC reminders.
proposed solution.
We found this process addresses our gap, on the merchants side.
* Banner to remind merchant about missing documents
* Progress indicator
* Quick access to uploading documents portal
mock up.
What did we learn from this?