Bullion Finance

Global Investment and remittances for Africans, powered by stable-coins

"The cost of sending money across international borders continues to be high at around 6.4 percent on average in the first quarter of 2021. Sending remittances to Sub-Saharan Africa is particularly high (8 percent), according to World Bank studies.At an average of 6.4%, this means that the transaction fees being paid amount to over $1.2 Billion in Nigeria and $6 Billion in Africa.Clearly, there exists a massive opportunity here to make it possible for people to remit funds without incurring such high fees, and there’s a large pool of users who would have an immediate, pressing and continuous need to minimize those fees to ensure their recipients receive as much as possible from the sums they send. "

Impact

Based on projections, the project aimed to achieve substantial outcomes in addressing the high cost of international money transfers. It was estimated that transaction fees would be reduced by an average of 60% within the first year of implementation. This reduction would result in projected savings of over $720 million in remittance fees in Nigeria and a significant $3.6 billion across Africa.

The project's success would empower individuals to send funds at lower costs, ensuring that recipients receive a larger share of the transferred sums. These projected results would greatly enhance financial stability, promote economic growth, and foster increased financial inclusivity.

The Target Market — Who are we solving For?

The African diaspora in Europe and the US comprises of over 20 Million people, and that number continues to grow at a pace of ~1 Million per year. Every one of those people is still connected to their communities via their families and friends, and many send funds for a variety of reasons. The remittances are often a necessity for the folks back home and are thus regular and ongoing for long periods of time — decades in most cases.
Specifically, we’re targeting:

Working-class migrants
International students
Companies employing offshore remote workers

Competition & Differentiators

To send money across borders, people typically use one of the following options :

Banks
International Money Transfer Operators e.g. MoneyGram
Traditional Fintech services e.g. Wise
Cryptocurrency P2P exchanges — e.g. Binance

Information Architecture

Defining a clear user path is of utmost importance as it lays the foundation for a structured and organized approach, ensuring effectiveness and sustainability. By outlining the steps and actions users need to take, it enables a seamless and purposeful experience. hence i developed a well-defined user path to enhance user engagement, promotes goal achievement, and contribute to overall success-of the project

Style guide

A style guide was created to establish standard style requirements to improve communication by ensuring consistency both within all documents and across other multiple documents. Elements include Reusable UI components, identifiable colours, clear and accessible CTAs, etc. A Typography style that offers simplicity, readability, and clarity of message was chosen for this project

Building the Bullion experience

Design requirement were meant to provide structure to make the product globally scalable and the
overarching strategy is to facilitate cross-border monetary transfers worldwide.

Project Takeaway

This project challenged me to strike a delicate balance between achieving design perfection and accomplishing business objectives. While I acknowledge that the design may not be flawless, it effectively resolves the problem at hand. Given the time constraints, I prioritized usability over aesthetics, ensuring a functional solution that meets the needs of the users and aligns with project goals.