In our product, we encounter two significant challenges:
A. Lack of Bank API Integration: Many banks do not have robust communication with the APIs that drive features such as generating tax reports, displaying investment insights, transaction histories, balance sheets, asset and liability tracking, portfolio analysis, and portfolio performance evaluation. This limitation hinders users who rely on such features when their banks are not integrated with our platform's APIs.
B. Limited Historical Data from Banks: Another issue arises when banks offer only limited historical data through APIs. This constraint affects the completeness and accuracy of the financial insights we can provide to our users. In cases where historical data is essential, users may need to supplement it by manually uploading their bank statements, ensuring a more comprehensive analysis of their financial history and performance.
These challenges underscore the importance of our product's adaptability, as we strive to accommodate users facing issues with their banking institutions, ultimately enabling them to better manage their financial data and make informed decisions.
During definition and ideation processes, collaboration with the engineering team was pivotal as we encountered several technical limitations due to backend constraints. We recognized that to ensure a seamless user experience and data integrity, it was essential to gather specific data from users, such as date formats, to prevent any database discrepancies that could potentially affect their reports and insights. To address these challenges,
we organized multiple meetings, fostering open discussions with the entire team. Together, we worked on defining rules and limitations that would guide the design and development work while keeping the system user-centered. This collaborative approach not only allowed us to overcome technical hurdles but also ensured that our product remained aligned with user needs and expectations, ultimately enhancing the overall user experience.
Our primary goal was to create a user-friendly system with a clear and intuitive flow. We aimed to ensure that users could easily understand the necessary steps and the logic behind each action, creating a seamless and logical user experience. Additionally, we were committed to minimizing
cognitive overload throughout the system. Even during the most complex and intricate processes, our focus was on reducing the cognitive cost for users, making interactions as straightforward and effortless as possible.
During definition and ideation processes, collaboration with the engineering team was pivotal as we encountered several technical limitations due to backend constraints. We recognized that to ensure a seamless user experience and data integrity, it was essential to gather specific data from users, such as date formats, to prevent any database discrepancies that could potentially affect their reports and insights. To address these challenges,
we organized multiple meetings, fostering open discussions with the entire team. Together, we worked on defining rules and limitations that would guide the design and development work while keeping the system user-centered. This collaborative approach not only allowed us to overcome technical hurdles but also ensured that our product remained aligned with user needs and expectations, ultimately enhancing the overall user experience.
