Online Origination

Having a fully online personal loan origination experience that allows a prospective borrow to go through the entire loan origination process online without having to speak with a loan consultant has allowed the business to scale at a faster rate and improves unit economics.

Problem:
Our loan origination process was dependent on customers speaking with a loan consultant on the phone requiring more people to grow the business.

Goal:
Extend the Pre-qualification flow to include taking a consumer through the entire underwriting and origination process.

Product Discovery

The first thing we did was spend time listening to customer phone conversations with loan consultants to begin to understand user needs and motivations. We then did a series of user interviews of both non-clients and people that had gotten a loan from us, then continued the discovery process by building personas of our target users.

Remote interviews: 10
Unmoderated user testing: 14
Onsite user testing: 8
Prototypes built: 1

Loan Dashboard Screen

Mobile Web Screens

Results

Creating this full online origination experience has been a major milestone for the business and has allowed the business to cater to a segment of user that is comfortable and willing to go through the application and underwriting process online, without ever speaking to someone on the phone.

We continue to optimize this experience by analyzing user data and reducing friction in the user experience.