The Collections User Group relies on this dashboard to strategically plan their day based on the payment status of the borrower. This dashboard seamlessly tracks the real-time payment statuses and also provides the portfolio performance metrics and so the collection specialist understands the actionable insights to strategically plan their day.
Tools: Figma, Lucid chart , Jira, Hey Marvin - a qualitative user research platform, Slack
Methods : User interviews, user shadowing
Insights : Based on the research the user pain points are:
Business goal : Reduce attrition and make the tool SaaS ready.
Collections agents struggle with inefficient workflows due to scattered data across multiple tools, lack of real-time payment status visibility, and redundant tasks, making it difficult to manage portfolios effectively. This leads to decreased efficiency, high stress, and increased attrition rates within the team.
How might we streamline the collections process by centralizing data, providing real-time payment status visibility, and delivering actionable insights to help agents strategically plan their day and reduce stress?
Curated a list of metrics to be displayed on the dashboard such as:
Conducted a cross functional team brainstorming session involving front -end devs, back-end devs, PMs to determine the feasibility of changes and means to collect the listed metrics for display on the dashboard and also to determine the product roadmap as it involved changes to the already existing collections table.
The redesigned Collections Dashboard streamlined workflows, improved data visibility, and enhanced efficiency for the collections team. By integrating real-time payment status updates, a consolidated portfolio summary, and actionable insights into a single interface, agents were able to reduce time spent on redundant tasks by 65%, leading to a significant increase in daily account resolutions.
Key improvements included: