How we at IBM iX reimagined an ecosystem & kick-started the journey to the future using research & Enterprise Design Thinking. The story of transformation of the leading heavy equipment finance provider in India. It’s the story of how research was used to create a platform that binds multiple providers together in orchestrated workflows, enabling them to work together seamlessly and transform from within to a new way of competing. It is also the story of how deeply design-led the transformation was. It’s a story that continues on a path paved with data to shine some light into hitherto unexplored spaces, empowering the grassroots end user with the tools to create his own success. Watch this space to see it unfold.

1. Finance
a platform for asset finance
The start of a
Cognitive Enterprise Journey

2. Fragmented Industry
2017 Future2020
Inconsistent Experience
Unaware Customers
Distributed User & Asset Data
Unification of Ecosystem
Seamless Experience
Informed Customers
Data Consolidation
Powerfully Connected Ecosystem
Personalized Experience
Data Empowered Customers
Data Driven Decisions
Path to the Cognitive Enterprise

3. The Diversifying Farmer
Agricultural Background
Industry Novice
No Future Foresight
Struggling with decisions
The Upcoming Operator
Industry Background
Technical Expert
Experiential Expertise
Stretching the Budget
First Time Buyer
Small Subcontractor
Mid Level Experience
Street Smart – Over smart
Crude Negotiation Tactics
Long winded decisions
Second Generation Contractor
Legacy of Experience
Legacy & Personal Network Boost
Swift Negotiations
Quick Probabilistic Decisions
Small Entrepreneur
Principal Contractors
Highly Experienced
Industry & Network Experts
Future Foresight
Large Scale Decisions – Personalized Negotiations
Large Enterprise
Brand Rub Off Value
Large Scale Needs
Personalized Service
Highly competitive negotiator
Strategic Customer
$ $$ $$$$$$$$$$
Who is the customer?

4. The Players in the Ecosystem
Finance Partner - RM
Finance Partners
Sales Channel Partner Single Entrepreneurial Partner
Relationship Manager
Sales Channels Finance
Dealer
OEMs
Original Equipment
Manufacturers

5. Research & DT
Timeline
Nov
2017 “We now have usable models that come from this outside-in approach
which will create value for the entire brand.”
CEO, iQuippo
Dec
2018 2 Research Cycles & 4 Design Thinking Workshops later. RBI approves co-lending as a framework.
We zero in on the asset purchase transaction with a focus on finance to begin the transformation.
Mission – To build an MVP – A business platform for heavy equipment finance aggregation.
Jan
2020 4 Agile Workstreams, Design Garage + IBM Delivery teams + iQuippo Dev & Product Team.
16 Adobe Prototypes, 3 Invision prototypes later.
Web based Loan Origination to Sanction Journey Live for 6 stakeholders
Loan Origination Mobile App Live for Agents
Content Strategy for Launch including Infographics, FAQs & Alerts
$ 115 Million

6. Key Insight #1
Its a
reference
driven
industry
Why?
Access
No other means of connecting
Highly networked industry
High Risk
Stakes are high
Comfort in the known

7. Key Insight #2
The
grapevine
carries
knowledge
Why?
To build relationships
Good advice is social currency
Reduce Risk
The right information at the right time, helps reduce
risky decisions

8. Key Insight #3
In context
education
works best
Why?
360° Pressure
Project & contract deadlines
Cost pressures
Local & geographic realities
Reduced Attention
Spans
Memory load involved in remembering
Build Relationships
Right advice at the right time helps in building
trust

9. Themes
Speed Collaboration TransparencyTrust

10. Speed Collaboration
Trust Transparency
Definition
Fast enough to match my deadlines & support my
decisions.
Impact
Helps me pick, plan and execute projects so that I can
pay EMIs on time.
Definition
Definition
Knowing the status of the loan & the barriers and
outcomes in the process.
Impact
Helps me to plan and react quickly.
Impact
Helps me to start the work at right time and earn
profits.
Definition
Tested and tried earlier, Corroborated by friends,
family and other successful people.
Impact
Helps me to choose and implement the best practices
which make projects profitable.
Retail Buyer
Steps in to help me decide on the correct machine,
good collaborators and the most profitable loan offer.
.

11. Speed Collaboration
Trust Transparency
OEM Dealer
Definition
To be able to judge the velocity of the deals
Impact
Helps to balance Operational Expenses
Definition
To be able to upsell the customer, to keep in constant touch
with him.
Impact
Helps in customer relationship
Balance Operational Expenses
Definition
Standing by promises made to him and the custmoer
Impact
Helps me refer customers with confidence
Definition
Maintain visibility on all loan status and closures
Impact
Helps to build brand value

12. Insight Idea Impact
Time is of the essence!
The retail buyer applies to multiple
banks and goes with the one that
approves the fastest
Eliminate Dead Ends.
Increase Speed.
The relationship manager wastes a
lot of time chasing dead end cases
To the dealer, extra time for loan
sanction means extra inventory
holding costs
At the financier’s end, dead end
cases pile up.
Automate eligibility check into a self
service at source. Enable the partner to
play a role in fast-tracking & have
visibility over the case.
Eliminated clear no-go cases before
loan application. Win-Win all around.
A single engine to codify & apply credit
rules from many financiers in one go &
serve personalized offers. Enable the
customer to save time list in exploring
multiple options.
Reduce Turn Around Time
Enable the agent to the right questions
to remove all no-go conditions.
Increased the probability of being first
time right for a customer
Enabled fast comparison shopping &
decision making.
Cognitively drive decision making
through insights & proven accelerators.
Reduced Manual labor
Set in motionAchieved

13. The retail buyer has to plan
machinery & staffing, he needs to
know when the asset is coming
Make everything visible & easy to
remember
The relationship manager is the
fulcrum for chasing answers
The dealer needs to plan inventory
according to visibility
The credit process is necessarily
opaque
Transparent, flexible & loan offers.
Designed for play to bring small print to
top of the mind.
Increased transparency for all
stakeholders
SMS & Email & app notifications for
every step of the process.
Checklists baked into bigger tasks e.g.
document check list for loan
submission.
Status at a glance - Dashboards.
Complete transparency.
Insight Impact
Visibility is the key to Trust!
User is enabled to make a clear
informed choice
Stakeholders always have a sense of
time & velocity of loan approval
Questions answered pro-actively to
make the user feel comfortable
throughout the journey.
Set in motionAchieved
Idea

14. Disruption will need education Educate contextually, on the go.
Make it easy.
Contextual education works best with our
audience.
For the sales ecosystem to change behavior,
they will have to know what to do, what to
say, how to answer any questions that come
up.
Embedded help text explain the need
and the value of each field.
Future: AI driven qualitative insights and
recommendations going forward like
‘Impact on loan sanction.’
Designed with the principle of
progressive disclosure. User should only
see what is relevant at that time to
increase memorability.
The change has begun, fueled from
inside!
Contextual FAQs which are likely to be
asked by the customer surfaced at
every point of interaction.
The system continued to engage users
and process loan applications
throughout COVID.
The funnel for loan application has been
increased by 10X.
Self-help documentation for every role.
Set in motionAchieved
Insight ImpactIdea

15. Everything is a checklist
Classification Questions | Sweeteners | Documentation | Payments

16. Intelligent Workflows
Journeys that adapt at scale, on the go. Question by question, answer by answer Smooth Handovers built for switching channels & roles
Orchestrated with data for transparency & seamless connectivity across the ecosystem

17. IBM Confidential17
Simplified Complexity 21 Steps --> 7 Steps

18. Transparent & Flexible
Subtle elements of Persuasion woven into loan processing

19. Agent Portal
Dealer Portal
Financier Portal
Truly
Scalable
Design Sales Partner Portal
Administrator Portal
Built on Adobe XD

20. Contextual FAQs & Tips
Persuasive Design requires pot loads of content!

21. Addressing Education Contextually
Using the Story Brand framework

22. The Vision Realization
Fragmented Industry
Yesterday FutureBegun!
Inconsistent Experience
Unaware Customers
Distributed User & Asset Data
Unification of Ecosystem
Seamless Experience
Informed Customers
Data Consolidation
Powerfully Connected Ecosystem
Personalized Experience
Data Empowered Customers
Data Driven Decisions