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<!DOCTYPE html> <html lang="en"> <head> <meta charset="UTF-8"> <meta name="viewport" content="width=device-width, initial-scale=1.0"> <link rel="shortcut icon" href="./images/wiz.png" type="image/x-icon"> <link rel="stylesheet" href="license.css"> <!-- FontAwesomw CDN --> <link rel="stylesheet" href="https://cdnjs.cloudflare.com/ajax/libs/font-awesome/6.7.1/css/all.min.css" integrity="sha512-5Hs3dF2AEPkpNAR7UiOHba+lRSJNeM2ECkwxUIxC1Q/FLycGTbNapWXB4tP889k5T5Ju8fs4b1P5z/iB4nMfSQ==" crossorigin="anonymous" referrerpolicy="no-referrer" /> <link href=" https://cdn.jsdelivr.net/npm/phosphor-icons@1.4.2/src/css/icons.min.css " rel="stylesheet"> <title>Wisdom-Portfolio</title> </head> <body> <div class="container"> <!-- Nav Starts here --> <nav class="nav-container"> <div class="nav-items"> <div class="nav-item-left"> <a href="index.html"> <div class="wiz"> <img src="./images/wiz-tr.png" alt=""> </div> <img src="./images/logo-wisdom.svg" alt="" class="logo"> </a> </div> <div class="nav-item-right"> <a href="rbac.html"> <li class="project">Previous project</li> </a> <a href="custom.html"> <li class="resume">Next project</li> </a> <!-- <a href="#"> <li class="about">About</li> </a> --> </div> </div> </nav> <!-- Nav Ends here --> <!-- main Starts here --> <main class="main-container"> <div class="main-items"> <section class="top"> <div class="heading-img-container"> <div class="left"> <!-- <a href="index.html" class="link"> <i class="ph ph-arrow-left arr-left"></i> <p class="back">Back</p> </a> --> <h1 class="head">License Application Management</h1> </div> <div class="right"> <img src="./license-img/ree.svg" alt=""> </div> </div> </section> <section class="bottom"> <div class="content-container"> <div class="left"> <div class="left-top"> <p>OUTLINE</p> </div> <div class="left-bottom"> <a href="#keyDetails"> <li class="keyDets">Key Details</li> </a> <a href="#overview"> <li class="overview">Overview</li> </a> <a href="#keyMetrics"> <li class="key-metrics">Key Metrics and Impact</li> </a> <a href="#whatIsLicense"> <li class="whatIsCustom">What is License Application?</li> </a> <a href="#businessMotivation"> <li class="business-moti">Business Motivation</li> </a> <a href="#businessGoals"> <li class="business-goals">Business Goals</li> </a> <a href="#uxGoals"> <li class="ux-goals">UX Goals</li> </a> <a href="#solvingFor"> <li class="solving-for">What was I solving for?</li> </a> <a href="#designExplorations"> <li class="design-exploration">Design Explorations</li> </a> <a href="#solutionDemo"> <li class="solution">Solution Demo</li> </a> <a href="#summary"> <li class="summary">Summary</li> </a> </div> </div> <div class="right"> <div class="first-box"> <div class="line1"> <h1 id="keyDetails">Key Details</h1> </div> <div class="line line2"> <p>Status</p> <p>Shipped-GA</p> </div> <!-- <div class="line line3"> <p>Timeline</p> <p>May 2024 - Oct 2024 (v0)</p> </div> --> <div class="line line4"> <p>Type</p> <p>Net-new Feature</p> </div> <div class="line line5"> <p>My Role</p> <p>Design Lead + Research Partner</p> </div> <div class="line line6"> <p>Prod-Dev Process</p> <p>Sprint-Based Iteration <em class="italics">(2-week cycles, features refined & shipped over multiple sprints)</em></p> </div> <div class="line line7"> <p>Deliverables</p> <p>Exploratory concepts, High-fidelity prototypes, Interaction guide for hand-off</p> </div> <div class="line line8"> <p>Contributors</p> <div class="contributors"> <!-- <a href="#"> <p>Ruslana Tarasenko <em class="italics">(Design Partner)</em class="italics"></p> </a> --> <a href="#"> <p>Gbemi Munis <em class="italics">(PM)</em></p> </a> <a href="#"> <p>Yemi Dalley <em class="italics">(Engineering Lead)</em></p> </a> <a href="#"> <p>Sachin Warke <em class="italics">(Frontend Engineer)</em></p> </a> <a href="#"> <p>Nicholas Mamiya <em class="italics">(Frontend Engineer)</em></p> </a> </div> </div> </div> <div class="second-box"> <div class="line1"> <h1 id="overview">Overview</h1> </div> <div> <p>Licensing is such a complex process, and navigating this process can be really daunting for both financial service providers and banks that need various kinds of licenses to either bring new products to the market, or maintain existing products they already have in the market. The complexity is a result of how diverse the regulatory frameworks are, and the specific requirements for each license type. This often leads to delays, inefficiencies, and errors in submissions. <br><br> A dedicated feature within the compliance management platform that simplifies each phase, from identifying the right license, to tracking the application post-submission, could significantly streamline the process, reducing common bottlenecks and improving overall efficiency. <br> </div> </div> <div class="third-box"> <div class="line1"> <h1 id="keyMetrics">Key Metrics and Impact</h1> </div> <div> <p>Months after the License Application went GA, we started seeing impact of the net-new feature via these wins: </p> <br> <ul> <li>- <strong>30% increase</strong> in the number of license applications submitted without rejection.</li> <li>- <strong>60% adoption rate</strong> as users find value in the feature.</li> </ul> <br> <p>The project also achieved several notable internal successes, as it got attention of leadership. </p> <br> <ul> <li>- Demoed at our <strong> 1st public release event </strong>of the year</li> <li>- Designs featured at company all-hands</li> <li>- Top 4 priority for 2024 company goals</li> </ul> <br> </div> </div> <div class="fourth-box"> <div class="line1"> <h1 id="whatIsLicense">What is License Application?</h1> </div> <div> <p><strong>License Application</strong> is the structured process by which organisations, particularly in regulated sectors like finance, seek official authorisation from regulatory bodies to operate specific services or conduct certain activities. This process typically involves selecting the appropriate type of license, gathering and submitting required documentation, and adhering to regulatory guidelines. License applications must often meet stringent standards to ensure compliance with industry regulations, making the process both complex and detail-oriented. <br><br>Effective license application management is crucial for timely approval and operational efficiency, as errors or incomplete submissions can lead to delays, penalties, or even rejections.</p> </div> </div> <div class="fifth-box"> <div class="line1"> <h1 id="businessMotivation">Business Motivation</h1> </div> <div> <p>Several financial institutions face an increasingly complex licensing requirements as regulatory environments evolve, and this makes compliance more challenging and resource-intensive. Building a licensing feature directly within EMTECH compliance management software addresses this need by providing a centralised platform to manage and track licensing applications, simplifying what can often be a fragmented process.</p> <br> <p>This feature would:</p> <br> <ul> <li>- Allow financial institutions to efficiently navigate diverse licensing requirements, reducing operational costs associated with manual tracking and compliance errors.</li> <li>- Furthermore, it enhances the software’s value proposition by integrating licensing management with other compliance workflows, giving clients an end-to-end compliance solution that drives both efficiency and accuracy.</li> </ul><br> <p>By investing in a licensing feature, our software positions itself as a comprehensive compliance tool, boosting client satisfaction, retention, and market competitiveness. Our integrated approach not only meets immediate user needs but also opens avenues for future growth as regulatory demands continue to evolve.</p> </div> </div> <div class="sixth-box"> <div class="line1"> <h1 id="businessGoals">Business Goals</h1> </div> <div class="businessGoalsList-container"> <!-- <ul> <li>- <strong>Reduced compliance risks for FSPs by 30%</strong> with enhanced tracking, audit trails, and modification transparency.</li> <li>- <strong>Achieved 30% adoption rate</strong> among existing FSP customers in the first 12 months post-release. </li> <li>- <strong>Reduced compliance management time by 25%</strong> through streamlined customisation and automation. </li> <li>- <strong>Improved customer retention by 10%</strong> over two years with a customisable, reliable compliance management solution.</li> </ul> --> <div class="businessGoal-top"> <div class="goal"> <div> <img src="./license-img/license.svg" alt=""> </div> <div class="content"> <p>Faster License Processing</p> <p>Cut license processing time by 40% with workflows and automated documentation. </p> </div> </div> <div class="goal"> <div> <img src="./license-img/operational.svg" alt=""> </div> <div class="content"> <p>Increase Operational Efficiency</p> <p>Boost efficiency by 25% with a unified compliance platform, cutting manual work. </p> </div> </div> </div> <div class="businessGoal-bottom"> <div class="goal"> <div> <img src="./license-img/revenue.svg" alt=""> </div> <div class="content"> <p>Revenue Growth</p> <p>Achieve 15% revenue boost through feature adoption and application fees.</p> </div> </div> <!-- <div class="goal"> <div> <img src="./custom-img/customer.svg" alt=""> </div> <div class="content"> <p>Customer Retention</p> <p>Boost customer retention by 10% in two years with a reliable, customizable compliance solution. </p> </div> </div> --> </div> </div> </div> <div class="seventh-box"> <div class="line1"> <h1 id="uxGoals">UX Goals</h1> </div> <div> <p>The UX goals for the licensing feature are as follows: </p><br> <ul> <li>1. Increase transparency with real-time license status, deadlines, and action tracking.</li> <li>2. Simplify tasks, guiding users through forms easily.</li> <li>3. Reduce cognitive load in complex workflows.</li> <li>4. Centralize disparate information.</li> </ul> </div> </div> <div class="eighth-box"> <div class="line1"> <h1 id="solvingFor">What was I solving for?</h1> </div> <div> <h3>Research</h3><br> <img src="./license-img/research_license.png" alt=""><br> <p>Being part of the initial research and user interviews with my product partners for the feature, I drafted some customer pain points for the proposed feature. </p> <br> <p>Some pain points includes:</p> <br> <ul> <li>1. Users often struggle with understanding varying licensing requirements across regions or license types.</li> <li>2. Without centralised tracking, users may be left in the dark about their application’s status and next steps.</li> <li>3. Many users manage licensing tasks across various tools and platforms, leading to inefficiencies and potential for oversight.</li> <li>4. Mistakes in application forms or missing documentation often result in costly delays or rejections.</li> </ul><br> <p>From speaking to customers, we were able to gather their use cases (Names of customers modified/hidden for confidentiality):</em> <br> </p> </div> <div class="neuton-container"> <div class="neuton-text"> <div class="container-neuton"> <img src="./images/nattt.png" alt="user-img" class="user-img"><br> <p class="neuton"> “Starting from scratch with every new license application is time-consuming. I’d love a checklist or guided path so I know exactly what documents to gather and can be sure I’m not missing anything.” </p> </div> <div> <p class="text"> ~ Nathan Stephens, Compliance Manager </p> </div> </div> <div class="neuton-text"> <div class="container-neuton"> <img src="./images/mukt.png" alt="user-img" class="user-img"><br> <p class="neuton"> “Audits require proof that every license is up-to-date and compliant, which is a hassle when documents are scattered. If all licensing documents were organized and accessible in one place, I could pull them instantly for any audit.” </p> </div> <div> <p class="text"> ~ Mukthar Abubakar, Risk Analyst </p> </div> </div> <div class="neuton-text"> <div class="container-neuton"> <img src="./images/reb.png" alt="user-img"><br> <p class="neuton"> “Renewal deadlines are critical, and missing one could be costly. Automatic notifications for each license’s renewal and expiration dates would prevent last-minute scrambles and keep us compliant.” </p> </div> <div> <p class="text"> ~ Rebekah Onu, Compliance Lead </p> </div> </div> </div> <div class="beneath-neuton-container"> <!-- <div> <h4>Initial Platform Pain Points</h4> <p>In the existing system, we provisioned FSPs with a plethora of frameworks with the assumption what we had would suffice; it was painful because it exempted some FSPs with bespoke frameworks as they could neither create nor insert these bespoke frameworks which they needed to bring onto our platform.</p> </div> --> <div> <h4>Problem Statement</h4> <p>Based on the understanding of the customer pain points and potential use cases, we came up with the following statements that needed to be addressed through design of the License Application feature.</p> </div> <div class="neuton-text"> <div class="container-neuton"> <p class="neuton"> “How might we create a seamless and intuitive license application process within the compliance platform so that users can easily navigate regulatory requirements, efficiently prepare and submit accurate applications, and seamlessly track progress to ensure timely approvals?” </p> </div> </div> <div> <h3>Ideating a Solution</h3><br> <p>Focusing on the interviews we had conducted, we drafted five major phases the entire journey for this particular feature would go through: <br> <br> 1. License type selection <br> 2. License requirements overview <br> 3. Preparation of requirements <br> 4. Submit Application <br> 5. Track Progress <br><br> </p><br><br> <h4>User Journey</h4> <br> <img src="./license-img/license_journey-map.png" alt="license_journey-map"> <br><br> <h4>Flowchart</h4> <br> <img src="./license-img/flowchart.png" alt="flowchart"> </div> </div> </div> <div class="ninth-box"> <div class="line1"> <h1 id="designExplorations">Design Explorations</h1> </div> <div class="images"> <div class="img"> <img src="./license-img/1.svg" alt=""> </div> <div class="img"> <img src="./license-img/2.svg" alt=""> </div> <div class="img"> <img src="./license-img/3.svg" alt=""> </div> <div class="img"> <img src="./license-img/4.svg" alt=""> </div> <div class="img"> <img src="./license-img/5.svg" alt=""> </div> <div class="img"> <img src="./license-img/6.svg" alt=""> </div> <div class="img"> <img src="./license-img/7.svg" alt=""> </div> <div class="img"> <img src="./license-img/8.svg" alt=""> </div> <div class="img"> <img src="./license-img/9.svg" alt=""> </div> <!-- <div class="img"> <img src="./license-img/10.svg" alt=""> </div> <div class="img"> <img src="./custom-img/10.svg" alt=""> </div> <div class="img"> <img src="./custom-img/11.svg" alt=""> </div> <div class="img"> <img src="./custom-img/12.svg" alt=""> </div> --> </div> </div> <div class="tenth-box"> <div class="line1"> <h1 id="solutionDemo">Solution Demo</h1> </div> <div class="demo"> <video src="./vids/Licensee.webm" controls controlslist="nodownload"></video> </div> </div> <div class="eleventh-box"> <div class="line1"> <h1 id="summary">Summary</h1> </div> <div class="beneath-neuton-container"> <div> <h4>Collaboration</h4> <p>Collaborating closely with both Product and Engineering ensured design feasibility and consistency during implementation. Our daily stand-ups and feedback loops addressed challenges such as maintaining data accuracy, and integrating the application tracker into the existing system.</p> </div> <div> <h4>Result & Impact</h4> <div> <p>At the time of writing this case study, this feature led to:</p><br> <ul> <li> - a <strong>30% increase</strong> in the number of license applications submitted by FSPs, to regulators, without rejection. </li> <li> - a <strong>40% improvement</strong> in user satisfaction, as indicated by our post-launch surveys </li> </ul> </div> </div> <div> <h4>Lessons Learned</h4> <div> <p>Two major things learned:</p><br> <ul> <li> 1. Early and consistent feedback was crucial to aligning design iterations with user expectations. </li> <li> 2. Frequent updates with developers minimised misalignments and sped up the development process. </li> </ul> </div> </div> </div> </div> </div> </div> </section> </div> </main> <!-- Main Ends here --> </div> </body> </html>