RXIL
Redesigning for RXIL, the catalyst in MSME’s growth
Transformed the Indian MSME landscape of Invoice Discounting, by shaping RXIL’s redesigned website.
RXIL (Receivable Exchanges of India Limited) is a joint venture between SIDBI (Small Industries Development Bank of India) and NSE (National Stock Exchange). RXIL serves as India's first TReDS (Trade Receivables electronic Discounting System), which aims to provide MSMEs (Micro, Small & Medium Enterprises) with timely access to working capital by facilitating the discounting of their trade receivables.
Powered by design thinking and fruitful brainstorming sessions, we revamped the user experience and built a platform for seamless collaboration between buyers, sellers, and financers.
Challenge
The MSME sector acts the backbone of the Indian economy. But it faces significant challenges, primarily related to access to finance. A leading institution that facilitates lending, is RXIL. The main challenge was to redesign RXIL’s website, by giving it a look and feel that puts the brand’s offerings forward in a clear, concise manner.
Industry
FinTechServices
UI UX design Motion graphic design Full-stack developmentCreative Quotient
Design lead UI/UX designers Motion graphic designer Developers
Our approach
The partnership between RXIL and Lemon Yellow yielded a simple yet impactful design that accurately depicts the brand's identity and industry positioning. Our primary goal was to highlight RXIL's accomplishments, and the potential of the TReDS platform, and therefore, creating a digital experience that underlines their leadership in the MSME industry.
The Lemonade Process
Adding a reliable zest to the process
- Research
- Requirement gathering
- Our understanding
- Competition analysis
- Plan
- User flows
- Information architecture
- Explore
- Wireframes
- Moodboarding
- Create
- UI UX design
- Animation
- Web development
- Delight
- Prototyping
- Micro-interactions
- Analyze
- User testing
- Quality analysis
Understanding the users
These users are the micro, small and medium enterprises that supply goods or services to corporations and businesses. MSMEs look for funds to continue smooth functioning of their business.
This user category includes large corporations and businesses that require certain goods or services offered by smaller businesses. For the same, businesses initiate transactions and raise invoices.
This user category includes banks and non-bank financial companies/institutions (NBFCs/NBFIs). These banks/NBFCs facilitate smooth lending between both the parties involved - MSMEs and corporations.
Outdated design. Lacked consistency in communication.
Started from scratch, built a website with improved messaging. Added a more relatable look and feel to it.
Facilitating capital like never before
The brand wanted to showcase their extensive work portfolio, and improve the website’s overall navigation and accessibility for users. We designed a notification panel that helped users get regular updates regarding policies and any new changes. Contacting RXIL was made much simpler too, which helped extend the brand’s credibility.
Solutions that simplify processes
Complex processes were simplified with design solutions. The factoring (shown below) depicts how the exchange process operates from start to end. For old and new visitors alike, such a simpler, clearer process makes the task a whole lot easier to complete. An accentuated factoring process made the required difference for this leading TReDS platform in India.
Enhancing the MSME experience
RXIL’s presence in the MSME industry and its journey over the years has been extraordinary. RXIL’s seamless capital facilitation has served a number of users, proving the brand to have a legacy of its own. Reflecting the same numbers and milestones in design was a delightful task, one that was in alignment with the brand’s vision and messaging.
The result
Lemon Yellow’s collaboration with RXIL, one of India's leading financing platform in the MSME sector, resulted in an evolved user experience. By conveying information effectively and making the platform more user-centric, the new website resulted in improved performance and engagement - always a delight! 🎉