Kyshi — A peer-to-peer currency exchange platform built primarily for users in diaspora.
Kyshi is a Multi-Currency Exchange Marketplace where users can send, receive, and exchange multiple currencies at their preferred exchange rate or bargain.
The platform provides users with a multi-currency wallet, a robust and secure transaction procedure, and real-time market data to exchange their currencies. It also implements a user-friendly negotiation and bargaining measure that lets users propose their preferred rates or negotiate with other users in the Kyshi marketplace.
Kyshi's goal is to create a unique payment solution with a focus on the following features:
- Multi-currency wallet and exchange.
- Smooth transaction when sending or receiving funds.
- Marketplace to offer and buy currency at a negotiated rate.
My Role
As the sole Product Designer on the Kyshi project, my role was pivotal in creating an exceptional user experience.
I did comprehensive user research to gain valuable insights into the needs and pain points of individual users, small businesses, corporations, and other stakeholders. These guided my design decisions — ensuring that Kyshi meets the specific requirements and expectations of the diverse user base.
Also, I worked closely with the software developers involved — providing them with detailed design specifications and a guide to ensure accurate implementation.
Problem Statement
In 2019, sub-Saharan Africa witnessed over $48 billion in remittance transactions. However, the existing system for sending money to and within Africa is inconvenient, time-consuming, and prohibitively expensive. Consequently, many individuals resort to unsafe informal methods to send money to their loved ones. Moreover, the foreign exchange (FX) market falls short in meeting the market demand for currency exchange in the region.
The Solution
Kyshi is a peer-to-peer money transfer platform that serves as a fair and transparent marketplace for currency exchange. Designed with simplicity in mind, Kyshi aims to make the process of sending money to and from Africa easier, safer, and more affordable.
Stakeholders
The success of the Kyshi project relies on the collaboration and engagement of various stakeholders.
Internally, I worked closely with the Kyshi development team, management, investors, and executives to ensure that the platform's strategic direction aligned with the needs of the users. Additionally, the collaboration between Effect Studios, the contracted agency, and myself as the designer played a crucial role in delivering a high-quality product for Kyshi.
Externally, the platform caters to Kyshi users who seek transparency, flexibility, and security in managing their funds, as well as small and medium-sized enterprises (SMEs) involved in international trade and financial institutions and payment service providers who may collaborate with Kyshi to enhance its financial services and transaction capabilities.
By identifying and engaging with these stakeholders, we fostered collaborative design decision-making and achieved the overall success of Kyshi.
Research and Discoveries
Mobile payment wallets and applications are used for various transactions — from sending payments to receiving funds. These applications offer multipurpose functionality that meets the evolving needs of users. As a result, users are always on the lookout for the best-performing payment app that can handle all their transactional requirements.
To ensure Kyshi delivers an exceptional user experience and solves all user needs, I conducted market research to gain valuable insights into preferences, pain points, and yearnings potential users.
Here's an overview of the key findings related to user pain points with existing payment apps.
User Flow
While working on the Kyshi project, a seamless and intuitive experience was one of my focuses. Hence, the user flow captures this experience — allowing users to get the best out of the features and functionalities.
Wireframes
The wireframing process was crucial in determining the layout and connectivity of screen interfaces for seamless navigation and functionality of the Kyshi product. It served as a collaborative tool to ensure alignment between the stakeholders.
Through this process, we made valuable adjustments that resulted in smoother and time-saving transitions, ultimately enhancing the overall user experience of the app.
Design Guide
To maintain a visually appealing and delightful design, I created a clean guideline to help define the logo usage, color palette, typography, imagery, and overall visual representation of Kyshi.
High Fidelity Designs
In addition to designing the Kyshi Mobile App, I created a visually compelling and informative website for the brand, ensuring its availability on desktop and mobile devices.
By skillfully integrating brand colors, engaging visuals, and intuitive navigation, my goal was to captivate users and entice them to explore the extensive features and benefits of Kyshi.
This responsive design approach ensures a consistent and optimized user experience across various platforms, enhancing engagement and facilitating conversions.
Interactive Onboarding
I designed Kyshi onboarding to provide a smooth and immersive experience for users. New users can almost immediately create an account easily — to perform transactions.
Multi-Currency Wallet
Kyshi supports multiple currencies, allowing users to transact in different currencies and expand their financial capabilities. Each currency wallet has unique account information, enabling users to receive money directly into their wallets.
Currency Exchange Marketplace
The Kyshi platform introduces a unique feature that allows users to propose their preferred rates or negotiate with other users when swapping/exchanging currencies in the marketplace — giving them more control and potentially leading to better exchange rates.
Transfer Options
Users can send funds to recipients registered on Kyshi via the wallet-to-wallet transfer feature or direct bank transfers. These options provide effective channels to transfer funds locally and internationally.
KYC
Kyshi's KYC (Know Your Customer) section includes tiers that determine user transaction limits within a specified period. Each tier corresponds to a level of verification, granting users increased transaction capabilities as they progress. This approach balances user convenience with regulatory compliance.
Kyshi Cards
As part of the design deliverables, I designed physical cards that users can request within the app for convenient transactions and withdrawals. This feature enhances flexibility and accessibility, improving the overall user experience.
Challenges
During the design process of the Kyshi app, we encountered several challenges that required careful consideration and problem-solving. These challenges encompassed various aspects, including technological constraints, financial regulations, and design complexity.
These challenges were addressed through collaboration, adherence to standards, and iterative improvements, resulting in a secure and user-friendly platform.
Learnings and Contribution
The process of designing the Kyshi app provided valuable insights and learnings, covering various aspects ranging from research to collaboration with developers and stakeholders.
In summary, the journey of designing the Kyshi app provided valuable learnings in user research, collaboration, and user-centric design. These learnings, and the app's contributions to the fintech and global payment sphere, have positioned Kyshi as a significant player in revolutionizing digital financial services.
Many thanks!!!