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The Problem

CUSTOMER PAIN

Form Frustration

New customers frequently faced confusion when completing the online loan application, leading to high abandonment rates and error-ridden submissions that delayed approvals. Meanwhile, returning customers lacked a straightforward path to revisit or update their previous applications, complicating their experience.

EMPLOYEE CHALLENGE

Overwhelming Call Volumes

Loan advocates faced an overwhelming volume of support calls from applicants struggling to navigate the loan application process. Common issues included confusion over critical eligibility questions, leading to frequent errors that necessitated manual review and delayed the provision of urgent financial assistance.

BUSINESS IMPACT

Reduced Productivity

The primary objective was to increase the conversion rate of loan applications to boost funding rates. However, the prevalence of errors in applications necessitated extensive manual reviews, significantly hampering productivity and slowing down the loan decision process.

How might we...

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streamline navigation, increase clarity, and enhance transparency throughout the online loan application journey, improving customer engagement and simplifying the overall lending experience?

Dynamic, Mobile-First Application Flow to Engage and Guide Customers

OppLoans is renown for outstanding customer service, primarily delivered through its call center. By extending this commitment to service into the digital realm, we introduced a guided, transparent, and streamlined loan application process that improved efficiency and customer satisfaction.​

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New Loan Application

First-time customers often struggle with the complexity of providing personal, income, and banking details. To address this, we implemented a single-question-per-page format, adopted a conversational tone for queries, and introduced interactive form fields. This approach not only engages users more effectively but also ensures greater accuracy in responses.

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Refinance Application

For existing customers eligible for refinancing, the application process has been optimized to present fewer, pre-populated fields based on their previous submissions, allowing for easy updates of any changed information. This method simplifies the refinance process, reducing time and effort for returning users.

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Reloan Application

Returning customers reapplying for a loan encounter a fully pre-populated form. Key fields are highlighted to prompt review and update, facilitating a quicker and smoother application process with minimal friction.

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Guided

Experience

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Conversational Language

Dynamic

Dynamic

Questions

Pre-Populated

Pre-Populated

Fields

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Redesigned Customer Loan Application
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OppLoans
Dynamic Loan Application

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Making Online Lending Accessible

The original online loan application for OppLoans, a one-size-fits-all solution, didn't effectively address the varying needs of new, existing, and returning customers. I led a cross-functional initiative to revamp this experience into a mobile-first, dynamic, and transparent process, uniquely tailored to each customer type.

 

I conducted a comprehensive review of the existing application process, identifying key pain points through benchmark analysis, usability testing, and journey mapping. My research provided actionable insights, guiding the redesign efforts. In collaboration with stakeholders across multiple departments, I navigated business and technical constraints to refine the application experience, prioritizing clarity and simplicity to better serve our financially vulnerable users.

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The redesigned application resulted in a guided, intuitive user experience that boosted customer trust, increased conversions by 12%, and reduced support calls by 30%, significantly enhancing operational efficiency.

Capturing Insights through Research

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Primary Research

I spent upwards of 60 hours shadowing loan advocated and listening to customer calls, capturing common concerns and points of confusion through the application journey. Hearing customers describe their struggles and frustration in real-time provided me with invaluable insights to the discrepancy between the business' intention with application questions and customers' perception.

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User-Friendly Designs

  • Mobile-optimized layouts, streamlined forms, and user guidance across platforms enhance ease of use and efficiency.​

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Security and Instruction

  • Secure handling of sensitive data and clear instructions, including validation and contract reviews, ensure user comfort and accuracy.

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Funnel Design Challenges

  • Extended, widely-spaced funnels and scroll-intensive forms slow down the process and increase potential for errors.​

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Technical and Functional Issues

  • Inconsistencies and inaccuracies in progress bars and frequent disruptions, like reloads and Captcha problems, impair user experience.

Secondary Research

Through the mystery shopper approach, I audited several online form experiences across direct and indirect competitors of OppLoans, even learning from adjacent industries such as credit, insurance, and government services. I identified gaps in experience and areas for improvement to envision an ideal application flow.

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Original Loan Application Flow

Key Learnings

An in-depth analysis of our initial application process revealed several areas for improvement to enhance user experience and efficiency. Here are the crucial insights that guided our redesign:
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High mobile users
82% of customers applied for loans via mobile devices, underscoring the need for a mobile-first design.
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Input Errors
The predominant cause of mistakes on applications was 'fat-fingering', highlighting the need for optimized mobile interfaces and error-prevention mechanisms.
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Complex Language
Customers struggled to understand the complex financial terminology, indicating a need for simpler language and clearer descriptions within the UI.
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Inflexible Fields 
Rigid input fields required customers to answer irrelevant questions, suggesting a need for more adaptive and context-sensitive form fields.
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Repetitive Tasks
Existing and returning customers had to re-enter information as if they were new applicants, pointing to the necessity of a differentiated application process for different user segments.

Tailoring to Customer Segments

Understanding the unique backgrounds and needs of our customers has allowed us to create distinct application experiences tailored to each segment. Below are the profiles of our three main customer types, each with customized features to optimize their application process.
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New Customer
Applying for a loan for the first time and has no account history with OppLoans.
Application Type:
New Loan
Characteristics:

All fields are editable

To comprehensively capture user info

User Needs:
Extensive guidance
New customers need closer support due to unfamiliarity with the application process. Interactive tooltips and step-by-step guidance are designed to assist them through the detailed application.
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Existing Customer
Holds an active loan with OppLoans and has interacted with their account recently.
Application Type:
Refinance
Characteristics:

Not all fields are editable

To streamline the application

User Needs:
Minimal guidance

The process leverages data from their ongoing loan to minimize effort and maximize efficiency, making the application refreshingly familiar yet faster to complete.

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Returning Customer
Has a prior account history with OppLoans, having been denied a loan or successfully completed loan repayment.
Application Type:
Reloan
Characteristics:

Not all fields are editable

To ensure ease of re-entry

User Needs:
Moderate guidance
While not as familiar as existing customers, returning customers benefit from a partially prefilled application that refreshes their memory and reduces redundancy, enhancing their reapplication experience.

Design Principles

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Empathetic
By meeting customers with dignity and communicating with optimism and respect, we can affirm our commitment to human investment.
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Transparent
When it comes to as sensitive a topic as finances, clarity and transparency are vital to inspiring customer confidence and earning their trust.
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Control
Structure and clear hierarchies in our design can help customers feel more confident and in control of their options.
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Progress
Embodying growth and forward movement can help instill in customers the confidence in both our product and their financial decisions.

Iterative UX Prototyping

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Preliminary Wireframe
Initiated the design process by arranging application questions to align with a typical customer's mental model. Incorporated conversational language to make the information requests more approachable and human-like.
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Early Low-Fidelity Mockup
Enhanced user engagement by introducing an agent avatar to navigate users through the application, making the process feel more interactive and less daunting.
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High-Fidelity Mockup
Collaborated with the marketing team to refine the agent mascot's role, adding a comprehensive application stage tracker to emphasize the progression through various steps, acknowledging that the form is just the initial phase of the application process.
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Final Design
Adhered strictly to established design principles to achieve a minimalist and clean layout that focuses the user’s attention on each field effectively. Utilized Material UI design elements to ensure simplicity and consistency across the interface.

Design Characteristics

New Loan Application

New customers require comprehensive guidance to navigate the loan application process accurately and efficiently. This tailored design ensures they can answer each question correctly to expedite the decision-making process.

Key Features

  • Agent avatar for personalized guidance

  • Conversational language to simplify communication

  • Interactive fields to engage users actively

  • Dynamic questions that adapt based on previous answers

  • Single-question-per-page layout to reduce overwhelm

  • Clearly laid out response options for ease of selection

  • True progress bar to visually track completion

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Democratizing sub-prime financial access

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