Transparent Loan Terms to Promote Self-Service Capabilities
Active loan customers have to call in to OppLoans to address issues like making changes to their personal information on file, get status updates on repayments made on their loan, learn how additional repayments made affect their overall loan
By adding functionality to the customer portal through key self-service features, OppLoans can offer customers more ownership of their active installment loan and repayments by allowing customers to address issues regarding changes to personal information, making additional payments,
Informed Status Updates
Streamlined Task Flows
Visualized goal tracking
Loan repayment calculator
Loan AMOUNT SELF-SERVICE
EMPOWERING CUSTOMERS IN FINANCIAL OWNERSHIP
OppLoans offers installment loans to the under-served sub-prime financial population that cannot access mainstream financial services. Through their loan application funnel, customers were not given the opportunity to self-adjust the loan amount they are potentially offered (pending approval) without calling into the customer service center.
As the UX Strategist at OppLoans, I identified the optimal point in the funnel to introduce self-service to the customer to both adjust the loan amount offered and get a transparent overview of the loan terms.
OppLoans (Opportunity Financial), Summer 2021
By conducting an audit of online loan applications of various direct and indirect competitors, I was able to portray the existing landscape of loan terms self-service. I found that competitors mostly presented this sort of self-service earlier in the funnel; which presented us an
For this project I worked with a variety of stakeholders from Marketing, Credit, Business Operations, Tech, Legal, and Compliance to identify goals and constraints for a redesign of the online loan application. Despite the often conflicting approaches from the different departments, my role granted me the ability to bridge these perspectives to align to a more united, singular focus.
Taking both mobile and desktop experiences into account while considering the task flows of both new and returning customers, I explored and iterated through different layouts and page formats. I thought through each individual interaction to ensure a seamless experience for customers seeking to access a loan. Design principles, persona behaviors, and helped guide my final design.
Being the first UX role to the organization, I have been largely autonomous in identifying opportunities for change and improvements, in showing the value of prioritizing user experience through research-based insights and effective storytelling, and in making design decisions to set up the future vision for OppLoans' digital customer experience.