Cut Costs, Simplify Operations—Smart Check Ordering for Investors

B2B SaaS | B2C Design

Role

UX/UI Designer

Industry

Banking

Duration

6 months

a cellphone leaning against a wall
a cellphone leaning against a wall
a cellphone leaning against a wall

Overview

As financial transactions increasingly shift toward digital solutions, the need for traditional paper checks has diminished. However, some investors and investment banking divisions (IBDs) still require checks for specific transactions. This case study outlines the design and implementation of a streamlined check ordering feature, partnering with Harland Clarke to provide a seamless experience while reducing operational overhead for Pershing's middle office.

The Business Challenge

  • In 2022, paper checks accounted for just 3.8% of consumer transactions, highlighting their declining relevance.

  • Despite low utilization, many investment firms automatically provide checks for investor accounts, resulting in wasted resources and unnecessary costs.

  • Managing check production and distribution in-house created an operational burden for middle-office teams, requiring manual processing and fulfillment.

  • The goal was to shift check-related costs to investors while maintaining accessibility for those who needed them.

The Design Solution

To address these challenges, we designed an investor-driven check ordering experience that:

  1. Enabled direct investor orders through a self-service portal.

  2. Allowed IBDs to place orders on behalf of investors when necessary.

  3. Integrated with Harland Clarke, a third-party check provider, to automate processing.

  4. Minimized middle-office involvement, reducing administrative workload.

Key UX Considerations

  • Simplicity & Accessibility: A straightforward, mobile-friendly interface for investors to quickly order checks.

  • Customization: Investors could select check styles, quantity, and personalization options.

  • Cost Transparency: Clear communication about check pricing to set expectations.

  • Seamless Integration: A backend connection to Harland Clarke to automate fulfillment and remove manual intervention.

  • IBD Support: Tools for IBDs to assist investors who preferred advisor-led interactions.

Overview

As financial transactions increasingly shift toward digital solutions, the need for traditional paper checks has diminished. However, some investors and investment banking divisions (IBDs) still require checks for specific transactions. This case study outlines the design and implementation of a streamlined check ordering feature, partnering with Harland Clarke to provide a seamless experience while reducing operational overhead for Pershing's middle office.

The Business Challenge

  • In 2022, paper checks accounted for just 3.8% of consumer transactions, highlighting their declining relevance.

  • Despite low utilization, many investment firms automatically provide checks for investor accounts, resulting in wasted resources and unnecessary costs.

  • Managing check production and distribution in-house created an operational burden for middle-office teams, requiring manual processing and fulfillment.

  • The goal was to shift check-related costs to investors while maintaining accessibility for those who needed them.

The Design Solution

To address these challenges, we designed an investor-driven check ordering experience that:

  1. Enabled direct investor orders through a self-service portal.

  2. Allowed IBDs to place orders on behalf of investors when necessary.

  3. Integrated with Harland Clarke, a third-party check provider, to automate processing.

  4. Minimized middle-office involvement, reducing administrative workload.

Key UX Considerations

  • Simplicity & Accessibility: A straightforward, mobile-friendly interface for investors to quickly order checks.

  • Customization: Investors could select check styles, quantity, and personalization options.

  • Cost Transparency: Clear communication about check pricing to set expectations.

  • Seamless Integration: A backend connection to Harland Clarke to automate fulfillment and remove manual intervention.

  • IBD Support: Tools for IBDs to assist investors who preferred advisor-led interactions.

a cellphone leaning against a wall
a cellphone leaning against a wall
a cellphone leaning against a wall
a cell phone on a rock
a cell phone on a rock
a cell phone on a rock

Process & Implementation

Research & Discovery

  • Stakeholder interviews with middle-office teams, IBDs, and investors to understand pain points.

  • Competitive analysis of check ordering flows from traditional banks and third-party services.

  • Usability testing with real investors to refine the ordering experience.

Wireframes & Prototyping

  • Created low-fidelity wireframes to define layout and interaction flow.

  • Developed high-fidelity prototypes for usability testing.

  • Iterated on designs based on investor and advisor feedback.

Collaboration & Handoff

  • Partnered with engineering to ensure smooth integration with Harland Clarke.

  • Worked with compliance and risk teams to meet financial regulations.

  • Provided design documentation and prototypes for an efficient development process.

Stakeholder Concerns

Dynamics that shaped the project

“We need to ensure compliance, mitigate fraud risks, and clearly communicate investor responsibilities.”

Legal

Ensuring compliance with financial regulations, fraud prevention, and disclosure of any fees or responsibilities related to third-party check fulfillment.

“We need a scalable solution that automates orders without adding technical debt or operational headaches.”

Engineering

Building a scalable, API-driven solution that integrates efficiently with both Pershing systems and Harland Clarke without adding operational complexity.

“Seamless integration with Harland Clarke is non-negotiable—data security, fulfillment, and branding must align.”

Business

Ensuring smooth integration with Harland Clarke, including data security, branding consistency, and a reliable fulfillment process.

“Cutting costs is key, but we can’t make check ordering so difficult that it frustrates investors or advisors.”

UX + Research

Balancing cost savings with customer satisfaction, making sure shifting expenses to investors doesn’t create friction or pushback.

“Ordering checks should be effortless, but let’s also guide users toward smarter digital options.”

Advisor

Creating a seamless, intuitive ordering experience that minimizes confusion while nudging users toward digital alternatives where possible.

We need to communicate the personalztion that Harland features so users will be happy with the change to their service.

Sales

Addressing concerns from advisors and investors who may view the removal of automatic check issuance as a downgrade in service.

Stakeholder Concerns

Dynamics that shaped the project

“We need to ensure compliance, mitigate fraud risks, and clearly communicate investor responsibilities.”

Legal

Ensuring compliance with financial regulations, fraud prevention, and disclosure of any fees or responsibilities related to third-party check fulfillment.

“We need a scalable solution that automates orders without adding technical debt or operational headaches.”

Engineering

Building a scalable, API-driven solution that integrates efficiently with both Pershing systems and Harland Clarke without adding operational complexity.

“Seamless integration with Harland Clarke is non-negotiable—data security, fulfillment, and branding must align.”

Business

Ensuring smooth integration with Harland Clarke, including data security, branding consistency, and a reliable fulfillment process.

“Cutting costs is key, but we can’t make check ordering so difficult that it frustrates investors or advisors.”

Advisors

Balancing cost savings with customer satisfaction, making sure shifting expenses to investors doesn’t create friction or pushback.

Stakeholder Concerns

Dynamics that shaped the project

“We need to ensure compliance, mitigate fraud risks, and clearly communicate investor responsibilities.”

Legal

Ensuring compliance with financial regulations, fraud prevention, and disclosure of any fees or responsibilities related to third-party check fulfillment.

“We need a scalable solution that automates orders without adding technical debt or operational headaches.”

Engineering

Building a scalable, API-driven solution that integrates efficiently with both Pershing systems and Harland Clarke without adding operational complexity.

“Seamless integration with Harland Clarke is non-negotiable—data security, fulfillment, and branding must align.”

3rd Party

Ensuring smooth integration with Harland Clarke, including data security, branding consistency, and a reliable fulfillment process.

“Cutting costs is key, but we can’t make check ordering so difficult that it frustrates investors or advisors.”

Business

Balancing cost savings with customer satisfaction, making sure shifting expenses to investors doesn’t create friction or pushback.

“Ordering checks should be effortless, but let’s also guide users toward smarter digital options.”

UX and Research

Creating a seamless, intuitive ordering experience that minimizes confusion while nudging users toward digital alternatives where possible.

We need to communicate the personalztion that Harland features so users will be happy with the change to their service.

Sales

Addressing concerns from advisors and investors who may view the removal of automatic check issuance as a downgrade in service.

a cell phone on a bench
a cell phone on a bench
a cell phone on a bench
a cell phone on a ledge
a cell phone on a ledge
a cell phone on a table
a cell phone on a table

Results & Impact

  • Cost Savings: Reduced overhead by shifting check-related costs to investors.

  • Operational Efficiency: Eliminated middle-office processing, reducing administrative workload.

  • Improved Investor Experience: Offered a self-service check ordering option with customization features.

  • Adoption Metrics: Post-launch, check orders decreased as investors opted for digital transactions, reinforcing the shift away from paper.

Lessons Learned

  • Clear Communication is Key: Some investors were unaware they could order checks independently, so educational messaging was crucial.

  • Defaulting to Digital: While checks were still available, designing the system to encourage digital transactions first further reduced costs.

  • Partnerships Simplify Complexity: Leveraging a third-party provider allowed for faster implementation and smoother operations.

Conclusion

By implementing investor-driven check ordering, we not only reduced costs and streamlined operations but also aligned with the broader industry shift toward digital-first financial management. This project exemplifies how UX can drive both business efficiency and improved user experiences in wealth management.

Results & Impact

  • Cost Savings: Reduced overhead by shifting check-related costs to investors.

  • Operational Efficiency: Eliminated middle-office processing, reducing administrative workload.

  • Improved Investor Experience: Offered a self-service check ordering option with customization features.

  • Adoption Metrics: Post-launch, check orders decreased as investors opted for digital transactions, reinforcing the shift away from paper.

Lessons Learned

  • Clear Communication is Key: Some investors were unaware they could order checks independently, so educational messaging was crucial.

  • Defaulting to Digital: While checks were still available, designing the system to encourage digital transactions first further reduced costs.

  • Partnerships Simplify Complexity: Leveraging a third-party provider allowed for faster implementation and smoother operations.

Conclusion

By implementing investor-driven check ordering, we not only reduced costs and streamlined operations but also aligned with the broader industry shift toward digital-first financial management. This project exemplifies how UX can drive both business efficiency and improved user experiences in wealth management.

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