Defining a new product from the ground up

Background
BNY Mellon is introducing a new investment product called Alternatives. While BNY Mellon has an established clientele list, this new product line will be introduced to a broader range of clients. The existing rules for their products will also have to shift for Alternatives. This introduces a new set of challenges that this long-standing firm have to navigate through.

Services

Discovery

Product Definition

Brainstorm & Concept Development

UX Design

Visual Design

Client Relationship

Team Management (incl. offshore)

Concept and Design
My team and I entered this project having to learn everything from the beginning. As a financial institution, we had to identify the possibilities while navigating the intricacies of rules and laws. There are two sides that we need to solve for: client-facing tool (Wove) and back-end tool (Bridge). Working alongside the client as financial experts, we spent a vast amount of time to understand the details of the product. Using an agile methodology, we developed designs in an iterative fashion that uncovered more details that continued to further product development. In the end, the tools we designed elevated the original ideas into a real set of tools that everyone can be proud of.

Results and Impact
With the design in place, fund setup time is reduced by 80% utilizing AI-driven features to reduce manual labor. This effort also increased average initial order execution time by 91% by reducing redundancies and utilizing existing systems. Our design ensures a usable and branded experience for 500+ Alternative asset managers.