Applying for a Loan Made Easy
Getmo is a financial startup that provides loans to merchants who sell on marketplaces. One of its unique features is that loan repayment depends on the merchant's income. If the merchant earns more, the monthly payment will be higher, and if they earn less, the payment will be lower.
As a promising startup in its MVP stage, Getmo needed to test its core hypotheses. To become customers, merchants had to fill out a short form on the landing page, followed by Getmo's managers contacting them via email. The whole process was conducted exclusively through messengers and email.
Challenge
The current onboarding process does not seem professional and may create a wrong impression. Financial queries are sensitive, yet the company only communicates with you through email. The task was to create a user interface for the first interaction with Getmo that would build more confidence in the service and simplify the initial engagement.
Objective
Our goal was to design an onboarding form that simplifies the credit application process. This would also reduce the amount of support needed and adds more trust to the whole user interaction with Getmo.
Process
The process was straightforward. After a few design iterations, actual clients were involved in UX testing of the design to gather feedback and make necessary adjustments. Then, close collaboration with the development team ensured that the final design met the business requirements.
I kept in mind:
Simplicity: Keeping the form simple and distraction-free.
Efficiency: The entire form could be completed in just over 10 minutes, with pre-scoring taking only 3 minutes.
Aesthetics: Ensuring the design is visually appealing to build trust and credibility.
Results
The newly designed onboarding form achieved remarkable success:
Time Efficiency: Data collection from merchants was reduced from days to minutes.
Reduced Support Workload: The streamlined process led to a significant decrease in the support required to assist a single client.
Increased Trust: The attractive interface helped in building confidence in the service.
Conclusion
By understanding the users' needs and applying design principles, the project successfully transformed Getmo's onboarding experience, making it more efficient, user-friendly, and trustworthy. This case shows the impact of design on enhancing customer satisfaction and business performance.
