Investors’ personal account and tax form submission service
Project initiative that i took in Gazprombank. Gazprombank is one of the largest banks in Russia and one of the bank's key divisions is its investment brokerage, which enables clients to trade on the stock market.
my role:
Product Manager
About the project
Problem
Broker clients don't make many transactions with American company stocks because submitting the W-8BEN tax form is hard. It has to be done in person at the bank, and the process can take several months to complete. The broker service portal doesn't meet essential UX design principles and has become outdated, making it very difficult and confusing to use.
Solution
Find a technological solution that enables submitting the tax form online and automates the process by integrating with government tax systems and developing a unified service for this purpose.
Product
Development
Steps
1
We conducted customer analytics to determine the percentage of those not trading American stocks to understand the scale of the problem. Then, we created and conducted a survey, which revealed that many clients indeed avoid trading these stocks due to the absence of the tax form.
2
Did numerous in-depth interviews with three different respondent categories: our clients without the tax form, our clients with the tax form, and non-clients with the tax form. This helped us identify the challenges clients face when completing the form with us and explore ideal solutions offered by other brokers.
3
After thoroughly refining the client-side of the application, we began searching for a way to implement our solution from a legal standpoint. The tax form submission process involves multiple parties, including government agencies, in addition to our brokerage. After extensive research into all existing procedures, we were able to find an optimal solution.
4
Having gathered all the necessary information and fully understanding how to implement the solution and which external parties to involve, we compiled all essential artifacts: PRD, project roadmap, budget plan, risk map, etc. We completely redesigned the interface, as the previous one didn't support our solution, and built an MVP for usability testing.
Some material from my work
Project Roadmap
The broker's personal account before the redesign
Some Hypothesis prioritization
First MVP of the updated broker's personal account
the result
The MVP showed excellent results in testing, and we received the project development budget from the board of directors. Our initiative became the catalyst for a global product redesign, and the tracking and document signing system began to be used in other products as well.
