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Client Description
FXallTM is a leading multibank foreign exchange platform backed by some of the largest foreign exchange (FX) liquidity providers. FXall offers buy-side and corporate clients the ability to see live, competitive prices and execute trades supplied simultaneously by participating dealers through a single entry point. FXall also provides Straight Through Processing (STP) services, research and selected market information, one-stop liquidity in FX spot, forwards and options, research and forecasts, online order entry, routing and monitoring.
Client Opportunity
As FXall launched, it had a considerable opportunity to sign up new members to this innovative service. Having an interface that addressed customers' need for speed, reliability and general usability would help FXall retain customers and grow its trade volumes. In growing this customer base, FXall wanted a clear brand and to increase their marketing effectiveness through their website. FXall sought to differentiate itself from its competition by offering customers a highly usable and intuitive trading and research system. While building their online presence, the site needed to provide a clear identity for the company, addressing the needs of FXall's core customer segments - FX traders from both corporations and institutional money managers.
Niteo's Solution
In a highly competitive bidding process, Niteo was chosen due to its expertise in user-centered design and its subject matter knowledge of devising solutions for capital markets sales and trading desks. FXall turned to Niteo for help in two critical areas - the online marketing campaign and the interface design of its research portal.
For the online marketing campaign:
- Niteo defined the needs of the core FXall customer segments, which include the need to quickly research, compare, and execute trades with a high measure of reliability and security.
- A website and flash demo were created that communicated the key messages that would resonate with the FXall customers - speed, efficiency, security, and liquidity.
- The new marketing site was designed with a cohesive "look and feel" and emphasizes the key attributes of greatest appeal to customers.
- Niteo designers employed key visual queues on the new site to lead visitors to sign in and seek further information about the company.
For the research portal design:
- Niteo used cognitive research to gather the information needs of the user segments, observing these users going about their daily tasks in their typical work setting, charting their workflow, and designing a system that would simplify these daily workflow patterns.
- Niteo employed low-fidelity prototyping to quickly test concepts with customers before going into build.
- The gained insight was used in the development of highly usable tools, such as multi-bank research reporting tables and an innovative online trading calendar that would actually ease the workflow of the typical FXall customer.
Client Result
Within a four week period, Niteo rapidly designed a new marketing website and Flash demonstration of FXall. To demonstrate the company's value proposition, FXall's senior management team used the site and Flash demo extensively during their global road show with potential new customers. This resulted in FXall signing up approximately 30 new liquidity providers within just a few weeks of launching the site. That design became the basis for the FXall "look and feel" and remains with the company today.
Results were equally impressive for the research portal, where Niteo completed a new design within six weeks. The research portal allows customers to go to one place to get all of their FX research including forecasts, fundamental and economic research, and technical research from all of their Research providers. The site also includes a unique trading calendar that helps remove the need for a paper desktop calendar on a trader's desk.
The research portal launched in conjunction with the trading platform and helped FXall to receive Euromoney's Award for the best FX multi-bank trading site for 2001 and 2002.
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