AUTOMATED LOAN APP

CASE STUDY

Project Overview

The Product:

This is an app that offers loans to business individuals, teach them how to become a good entrepreneur and also manage the funds, create a marketplace for easy customer base with a virtual card for online payments.

Project Duration:

March 11th – May 15th 2024

The Problem:

Most business individuals in my geographical location tend to mismanage their loan funds, and they end up having challenges to payback with results to a bad loan or court cases to retrieve the funds.

The Goal:

The goal is to help financial institutes manage funds for business individual, to prevent them from unnecessary debt incur

My Role:

Our role in this project is the lead UX designer

Responsibilities:

Our responsibilities are ideation, paper wireframe, digital wireframing, mockup, lo/hi fidelity prototyping.

User Research Summary

Most people get loan from banks for business, but end up using some part of the money to solve individual problems, making it difficult to execute their business plan with funds left with them from the loan. With this app, individuals will be thought on how to manage funds for their business and also restrict them on a particular amount to be withdrawn, and provide them a marketplace where they can only utilise the funds on the planned business.

Persona 1: Gbenga

Problem statement:

Gbenga is a farmer who needs to access loans because he wants to grow his farm.

Persona 2: Nkechi

Problem statement:

Nkechi is a lawyer who needs access to funds because she wants to support her business.

Paper wireframes

The paper wireframes that demonstrates the inception of the design sketches.

Digital Wireframe

To make it easy for user to be able to call for help with just a click. The wireframe helps the design to layout the navigation process.

Usability Study: Findings

In the usability study, participants gave suggestions on what might be included in the app, but users were able to navigate through easily.

Findings 1

Most people don’t have access to funds to execute their business.

Findings 2

Some people find it hard to get merchants for the goods they want.

Findings 3

People tend to use their loan funds for other things outside their loan purpose.

Mockups

A decision was made from the usability study to make recordings auto save, have a pause, stop and send button for easy reporting. Gender selection was added in the registration form to keep proper record of a user ID

Takeaways

Impact

With this design, a user will be able to get a loan, learn how to manage their business and funds also have a customer base without having to worry about how to get customers to make the business thrive.

Lesson learned

People that are in business needs supports, especially in money management, because they seem to know what they doing but in truth, most of them are clueless.