Sleek Business Account
A transparent cross-border payment experience for SMEs
- Role
- UX/UI Designer
- Year
- 2022
- Team
- 1 Designer, 3 Developers
- Platform
- Web
"Sleek Business Account offers entrepreneurs fuss free access to a multi-currency business account and corporate cards for business spending. While it solves a huge pain point for them, the users were confused as to why they were constantly charged extra fees after a SWIFT payment to other countries was completed "
Users thought we were offering flat fee per SWIFT transfers and did not account for intermediary fees that were charged after a payment has been completed
As the intermediary fees charged was treated like a standalone transaction, users can reconcile the fees were for which payment, leading to them thinking we were randomly charging them
Transparent
While it may not be possible to show the intermediary fees, the objective was to make it prominent such that users expect that fee to come in
Linked payments
Every intermediary fee deducted must show clearly that they are linked to another payment
The solution was to show clearly the breakdown of a payment in a equation like manner where all fees, rates are shown clearly. And if they choose SWIFT as the payment method, we will show users a fixed fee we charge and to warn them that an intermediary will be charged later. When we do charge the intermediary fee, in the transaction details we attribute it to the payment the fee was charged for.
Transfer setup
Transaction details
Review
Add recipient
Transaction timeline
Transparency and trust are essential in building fintech products