Project Name: Bajet
Project Type: Online Banking Solution
Duration: 10 Months
Scope: A groundbreaking online banking mobile app for Tejarat Bank that expanded traditional online banking capabilities to include account opening and loan application services for the first time in Iran.
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URL: www.mybajet.ir
Problems: Expanding the online banking experience in Iran beyond money transfer and cash flow. Shortening the time of granting facilities and preventing personal judgments about the creditworthiness of individuals.
Challenges: Regulatory compliance, lack of credit reporting system, organizational resilience challenges, secure data management, user adoption, and seamless integration with existing banking infrastructure.
Solution: Developed a secure, scalable, and intuitive online platform that offers comprehensive banking services, including account opening and loan applications over Android & IOS devices.
Tools: Figma, Microsoft Visio, Principle, Microsoft Teams, Microsoft Office
Teams Engaged: Mobile/Web Developers, Software Engineers, UI/UX Designers, Legal Advisors, Bank Executives, Stakeholders, Branch Managers
My Role: Lead UX Designer, Product Owner
Contribution: As both a UX designer and product owner, I was the hub between design, development, and business goals. User-centered designs and leading product strategies in line with Bank Tejarat's goals and regulations. Also managing time and resources and creating coordination between multi-platform teams
In addition, I made some innovations in this project for the first time in Iran. such as unique customer journey, customer validation mechanism, credit rating system and creating a meaningful relationship between various digital products of Tejarat Bank
Target Users: Existing bank customers and new users seeking a comprehensive online personal banking solution.
Research: Deployed custom event tracking using Google Tag Manager to capture micro-interactions on the existing online banking platform. Analysed the user flow to identify drop-off points and bottlenecks, particularly in the account management and transaction sections. Conducted in-depth interviews with 50+ users, focusing on pain points around account opening and loan application processes. Additionally, performed a competitive analysis using the Jobs-to-Be-Done framework, identifying that no competitor offered a complete online process for account openings or loan applications.
Ideation: In response to the identified market gaps and user pain points, introduced innovative features like digital account opening and online loan applications. These were supplemented by a multi-layered, secure identity verification process that met stringent regulatory requirements. Brainstormed these solutions in collaboration with technical, legal, and financial teams to ensure feasibility and compliance.
Outcome: A secure, robust, simple and user-friendly mobile app that revolutionized online banking in Iran. Users can now open accounts, get a credit report and apply for loans online, a first for the Iranian market.
Usability Testing: Utilized advanced user-testing platforms like Optimizely for A/B tests, Hotjar for heat map analytics, and Tobii for eye-tracking studies to gain a comprehensive understanding of user interactions and navigation patterns. Complemented these with both moderated and unmoderated user interviews to capture qualitative insights. Conducted tests in a simulated environment that mirrored real-world usage conditions, ensuring data validity. Employed split URL testing, multivariate tests, and eye-tracking analytics to validate the effectiveness of design elements such as CTAs, form fields, and navigation menus. The insights gathered from these multidimensional tests were used to make data-driven iterations on design, optimizing both functionality and aesthetic appeal.
Collaboration: Organized bi-monthly strategy roundtables with high-level bank executives, legal advisors, and the tech team. These meetings, supported by collaboration tools like Microsoft Teams, focused on ensuring the platform's features and workflows met stringent regulatory requirements while aligning with the bank's strategic goals. In addition to virtual collaboration, we conducted on-site observations at physical bank branches to deeply understand the user flow and integrate these insights into our digital platform. Regular use of collaborative software like Miro aided in dynamic ideation and concept mapping, facilitating a more effective feedback loop.
Metrics of Success: In a significant achievement, we entered the market 20% ahead of our planned schedule and quickly captured a 37% market share within the first quarter. Additionally, we achieved a 40% reduction in in-branch service requirements, and a 12% increase in new account openings within the first quarter. These milestones not only underscored the platform's strong market fit but also demonstrated its impact on streamlining operations and fostering customer engagement, setting the stage for future growth and market dominance.
Impact and results: Bajet revolutionized Iran's banking by pioneering digital solutions that set new industry standards. The platform significantly influenced customer behavior and increased public affinity for the Tejarat Bank brand. This innovation not only boosted net profits but also solidified Bajet's role as a transformative force in the industry.
