MUNDI
As a challenge, I had to propose a new Application Process flow that allows us to scale to manage more clients.
Asigned role
UX Designer
Timeline
Apr. 2022 - 3 days
Tools
Let's star the journey with some information
About the company
Mundi empowers businesses to break into international trade by providing innovative solutions that expand their customer base and boost deal success.
What's factoring?
Factoring, a financing option for small and medium businesses (SMBs), helps bridge cash flow gaps. Here's how it works:
A business sells its outstanding invoices (accounts receivable) to a factoring company (the factor).
The factor pays the business a percentage of the invoice value upfront, minus a fee.
The factor then collects payment from the business's customers.
This provides businesses with immediate access to cash, improving their working capital and reducing the risk of unpaid invoices.
Product Strategy
Prototyping Tools
Storytelling
Team talk (Presentation)
User Flow Design
Visual Design Principles
Wireframing
About the process
To achieve efficient management of a larger number of clients and enable scalability, the following application process flow is proposed:
Automated application
Implement an online application system that allows clients to complete and submit their application electronically. This will streamline the process and facilitate the capture of accurate information.
Verification and documentation
Request approved clients to provide necessary documentation to support their application, such as financial statements, invoices, and contracts. Establish secure mechanisms for the submission and storage of these documents.
Customer follow-up and support
Establish a proactive follow-up process to ensure customer satisfaction and address any additional concerns or inquiries they may have.
Automated preliminary evaluation
Utilize automated evaluation tools to conduct a preliminary assessment of the received applications. This will quickly identify clients who meet the initial requirements and expedite the review process.
Final evaluation and approval
Conduct a comprehensive evaluation of the applications and provided documentation. Make approval decisions based on predefined criteria and promptly communicate the results to the clients.
This new application process flow will enable efficient and scalable management of a larger number of clients while ensuring personalized attention and rigorous evaluation of the applications.
Account manager assignment
Designate specialized account managers for each approved client. These managers will be responsible for providing personalized service and assisting clients throughout the process.
Contract implementation
Upon approval of the application, proceed with the signing of the factoring contract and establish agreed-upon financing limits.
About the delivery
Taking into account the highlights of the process, I focused on distinguishing the two possible paths within the request process. Modifying the platform itself was out of scope, so I did not intervene in it.
This challenge was completed in 3 days and presented immediately to the company's team. During the presentation, I not only discussed the process I envisioned to arrive at a solution but also explained my working process and how I organize files within Figma.
