The Digital Execution Manager is a multi-phased, ongoing project that will allow for a single trader to manage auctions and negotiations with multiple banks over the web, and includes automating the post-execution process. Today the process of trading is managed over the phone, along with a shared excel spreadsheet, and requires one trader for every bank involved in the auction or negotiation. Once the trade is complete the post-execution process where the trader adds the new trade into our system takes a minimum of 10min due to manual inputs.
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Phase One: Create an application for traders to manage the auction or negotiation, which will include a single auction manager managing the flow of the process, as well as helpful status updates and a chat for communication. Along with this we will have a queue to manage the trades and will automate the post execution process.
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Phase Two: Create a queue for Banks to manage the trades we are doing with them. This queue will talk with our traders' queue, letting them know when there are incoming trades, as well as tracking the status of onboarding clients to each bank. Onboarding primarily consists of the exchange of necessary documents.
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Phase Three: Create a queue for clients to see where they stand with onboarding as well as the status of their trades. This queue will also talk with our queue in order to notify us as documents are loaded as well as keeping our clients up to date on the status of their trades.
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Phase Four: The final phase will happen over time. In order to get to our end goal of having a single trader manage multiple banks during an auction we will need to get each bank logging in and using our system.
Below is a overly simplified map of the auction/negotiation process.
We began the design process by first shadowing our traders for a day. Once that was competed we worked with subject matter experts and our product manager to map out the Current, Future (5yr), and Vision (10yr) States.
Current State
Future State
Vision State
Once we mapped out the processes we created some wireframes. Then in order to share our vision with the rest of the company we put our wireframes into a storyboard which was shared at multiple company, and product level meetings.
We used a combination of Figjam and Miro to ideate and create wireframes.
With the help of Photoshop's AI, we created storyboards to share our vision.
Showing how a client would start their experience by loading their loans.
Once in the auction, the trader and bank can confirm trade terms.
We also wanted to show how a client could follow along while the trade was happening.
Once a loan is selected we would help determine their hedge strategy.
Once through through the process the trader would get done with final bid.
As an alternative, in a future state, if the design was intuitive enough, the client could manage their own trades.
Prototype Iteration 1
As we moved into the prototyping phases, we worked closely with our traders and other subject matter exports in order to validate and iterate on our Figma designs.
Prototype Iteration 2
In this iteration we implemented feedback from the traders, as to being able to access economics, terms and other important pieces of information during the process as well as wanting the winning bid to stand out more.
Prototype Iteration 3
As we were honing in on the design, we were no focusing more on the styling and interactions.
Throughout these iterations we did usability testing with our traders. Along with this the CEO scheduled a meeting with the head of one of our primary banks we work with to pitch this concept to them. For this meeting we decided to make a highly interactive prototype using Axure. To do this we used the Axure/Figma plugin to port in our designs into Axure in order to make an interactive prototype for the meeting.
We are now working through each tab as well as other pages. Any new development will now be using Material UI, due to our company going through a rebrand. These designs are using un-styled MUI components since we're still waiting on the direction of the rebrand.
Below is the Documents tab, where clients can upload and or sign documents, docs managers can generate documents and banks can review and or sign documents.
Next Steps
Our next steps on this project, is to start focusing on Phase 2, which is building out the views that banks will see.