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Kanika Manchanda is a Business Analyst on Ultradata's Product Design team. In her role, she incorporates new functionalities (whether strategic or compliance driven) into Ultradata's solutions using best-practice design principles. Her role is vital to the growth mindset of Ultradata’s suite of financial technology products.
Kanika works across the full suite of Ultradata products, but her specialty lies in mission-critical compliance solutions, where she balances compliance outcomes with usability to maintain the best in user experience. It’s an expertise that stems from her unique background. Kanika holds a master's degree in accounting and has worked in Anti-Money Laundering and Compliance roles at major financial institutions and financial technology companies.
Having gained exposure to business systems and seen first-hand the impact of software solution design on the effectiveness of essential business operations such as compliance, Kanika was drawn to becoming a Business Analyst.
"As a Business Analyst, you can do anything. You can use your skills to make a genuine impact on how a business runs for the benefit of everyone in it.
Being a good Business Analyst requires a balance of technical knowledge and stakeholder management, and no two days are the same. As someone with a growth mindset, the opportunities are endless."
She first worked as a Business Analyst for ANZ's tax and compliance solutions. Seeing an opportunity to bring her skills to the SME banking sector and grow as part of an experienced team of product designers, Kanika took her talent to Ultradata.
On a typical project, Kanika will undertake extensive research on Ultradata solutions and best-practice product design to determine Ultradata's approach to implementing a new product.
Once the approach is determined, Kanika will draft a document explaining the product, how it works, and how it integrates into the Ultracs Ecosystem. She will also produce mock-ups to support the explainer.
Once the product design phase is finished, she hands these documents over to the Development team to bring the solution to life. Along the journey, Kanika will collaborate with Development to ensure alignment with best-practice design throughout the product delivery lifecycle.
Kanika's product design expertise has played an important role in the rollout of Ultradata's Confirmation of Payee (CoP) solution.
CoP is a mandatory service designed to enhance the security of bank transfers. When enabled, it allows digital banking channels to display an intended payee's account name so the payer (or their financial institution) can confirm they are sending money to the right person or organisation. The payer must confirm the account name is correct before authorising the transfer.
CoP's importance has seen the solution mandated for financial institutions by Australian Payments Plus. Ahead of the mandate, Kanika designed Ultradata's CoP solution across Ultradata's banking channels.
"My focus was ensuring our system was fully compliant and seamlessly integrated with the CoP solution while delivering the best solution for clients and their customers."
A key driver of CoP's success is its usability. Kanika ensured CoP fit seamlessly into each platform, reducing the friction between customers and operators who encounter CoP when performing everyday tasks.
"The basic principle of CoP remains the same across all banking channels, but each has unique considerations. I invested significant time in understanding which areas of Ultracs App, My View Point and Ultracs core banking would be affected to ensure seamless integration and cater to the specific workflows.
It was essential to cover all aspects, ensuring the best UX design that was intuitive, easy to navigate, and fully compliant with obligations while maintaining security and usability of each digital banking platform."
Working at Ultradata has given Kanika unrivalled exposure to financial technology products and the experts behind them. Although it is relatively early in her career, Kanika sees Ultradata—and its products—as a launching pad to excellence in the financial services sector.
"I enjoy working as part of Ultradata's design team. My teammates have had extensive experience in financial services and are all genuine advocates for better financial technology products, and I'm grateful to get the chance to learn from them.
It's an open collaborative environment. Even when working on different products or projects, everyone's approachable and willing to lend their expertise."
Outside of work, Kanika enjoys art and the creative outlet it gives her. She has mastered many different art styles over the years and has recently taken up calligraphy.