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Client at JPMorgan chase usually has joint investment accounts because it gives them an opportunity to leverage their assets. It also helps with many tax benefits and reduces risk on equity.
CREATE A NEW DASHBOARD FOR OUR CHASE BANKING LINE OF BUSINESS
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JPMorgan Chase had the opportunity to create a new self-service platform, joint investment trust accounts. The goal of this service was to create an experience that would remove clients from coming into the banks to open a joint investment account.
At first, this service was to be created by the investment team as it has to do with investment. But after going through all the developments. We found out that the investment teams were not suited to this challenge even though this would live on the investment side of the business.
I was working on the onboarding team as a senior UX designer. At the time, this was my first project on the onboarding team, and I thought this would be an excellent opportunity to learn the onboarding process. So I decided to take this project on as the leading designer
This is an onboarding process. The goal was to create an experience for clients to enroll in JPMorgan chase joint investment trust accounts without entering the bank. This project was then given to the onboarding team as a result.
A trust is a fiduciary arrangement that allows a third party, or trustee, to hold assets on behalf of a beneficiary or beneficiaries.
For example, A middle hand between a business and the owner/owners, where the Trust takes full financial and legal responsibilities but is governed by the business owner/owners.
In most cases, many wealthy people tend to create different types of trust because of its legal benefits. Note not every Trust is made with good intentions. Because of the nature of a Trust, there are a lot of opportunities for Illegal businesses. This brings us into compliance.
Lays out policies and checks to make sure you are complying with policies.
Here is where the good stuff comes in. At this point, the product lead and I had to figure out how to get around compliance so we would not jeopardize the bank's interest and our clients. "Do then ask forgiveness.
This was the question that was going through my head every time I created design options.
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We decided the best way to approach this was to slip the application between the two parties. We knew that we needed to keep our client's information hidden. So we chose the confirmation page would be the best option.
We also found that when the co-trustee started working on their application, sending a notification to inform the first co-trustee, which communicated that the person they have decided to be a co-trustee had begun the application process. By doing this, we found that most of our clients like having a close eye or status on their co-trustee.
The Getting Started Page is the first page clients at JPMorgan will see when they apply to create an investment trust account. We have two options. The first option is to create a single trust account. Only one person will be able to dictate their investment trust account.
Only clients at JPMorgan are eligible to apply for an investment trust account because the person using the trust account already has a JPMorgan account. We were able to pull in that information for KYC.
The employment information page is also a part of the client's KYC information. We created this step so that our clients would have the opportunity to make sure all their employment information is verified before moving forward.
The affiliations page is where we ask you, and you're co-trustee for information on where you work, are you or your spouse affiliated with investment institutions, and if you or your spouse may have information that could lead to insider investment.
The Account designation is where we ask you if you want to leave a trusted contact person in case the bank cannot contact you. Usually, this would be a lawyer.
Choose your trust page allows you to choose a trust type available for a joint or a single investment account.
Once you have chosen the trust, you would like to use. We pull up the trust information for our clients to verify that this is the correct trust they would like to use.
Here we show all their agreement information to the clients. If they agree with the information, they can move forward. If not, they can cancel at any time.
The Verify page is where we reshow all the information the clients have put in for them to review. They can always click edit on the right for any section they would like to change the information.
Here we tell our clients that you have completed your application.
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