UX reconstruction of the pre-approved offers screen
Company:
FinanZero
Year:
2023
My role:
Product Designer (UX, UI and UX Researcher)
About the company
The biggest loan marketplace in Brazil
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Finanzero is a pioneering fintech in the Brazilian credit market, founded in 2015 based on a Swedish business model;
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It operates with the digital banking intermediation and loan comparison service;
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FinanZero offers a monthly report that highlights the main trends in the credit market.
The problem
In three months, the number of acceptances on the pre-approved offer screen dropped by around 12% . At the same time, the number of clicks on the decline button increased by 6% .
Throughout 2023, "Debt Payment" was the main reason for the request.
The challenge
How to make more users accept more offers, considering the scenario of economic vulnerability?
Interviews with stakeholders
As it would not be possible to speak to the client at this time, for internal company reasons, I opted for another approach. To organize the information I had internally, I gathered some members of the Customer Success and Customer Service teams, who could help me with valuable insights and with the following specific problems:
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Identify the main factors that make users accept or decline offers;
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Identify how they choose the offer;
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Analyze what creates security or insecurity in the acceptance process;
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Understand what were the biggest points of customer complaints on the offers screen.
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From there, I facilitated a process of filling out the CSD matrix to document the knowledge contained in the two areas mentioned.
The challenge
How to make more users accept more offers, considering the scenario of economic vulnerability?
New layout
Before starting to build the layout, I conducted a study of competitors and marketplaces from other segments to obtain references and adapt them to FinanZero's context. From there, I produced the initial versions to improve the clarity of the information and facilitate comparison between the offers.
Tester profile
How to make more users accept more offers, considering the scenario of economic vulnerability?
How to make more users accept more offers, considering the scenario of economic vulnerability?
How to make more users accept more offers, considering the scenario of economic vulnerability?
How to make more users accept more offers, considering the scenario of economic vulnerability?
How to make more users accept more offers, considering the scenario of economic vulnerability?
System visibility and status
In the mobile format, the user saw an offer take up practically the entire screen space. As a result, the customer could not see or know that there were more options to choose from if they did not use the scroll button.
User control and freedom
If the user clicked the decline button on an offer and selected a reason, they could not undo that action. This action did not trigger warnings that it could not be undone.
Aesthetics and minimalist design
The buttons, tags and content took up a lot of space, there were seven different colors on the screen and different typography weights, in addition to almost illegible textual information.
Help and documentation
Users had some information about how the process worked, but it was very limited and incomplete. It was of no use in clarifying doubts or helping with decision-making.
Recruitment and scheduling
Recruitment was one of the most challenging stages, taking about two weeks between emails and phone calls.
Usability testing
For the application, without showing any screen yet, I started with questions like:
Final solution
I present the final solution after small adjustments to the information hierarchy and UX writing that emerged during testing:
Recruitment was one of the most challenging stages, taking about two weeks between emails and phone calls.
Metrification in Google Analytics
With the layout and features defined, I moved on to describing the metrics. We would need:
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Home page view by user;
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View details page by user;
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Click on the “Accept” button on the main page;
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Click the “Accept” button on the details page;
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Click the “Not now” button.
Recruitment was one of the most challenging stages, taking about two weeks between emails and phone calls.
Results and next steps
14% growth in acceptance clicks
21% reduction in decline clicks
Due to my departure from the company, I did not have access to subsequent results, but the projection, until mid-July, was stability.
Based on this initial success, FinanZero’s goal is to continue exploring visual and functional improvements to further enhance the offer screen. In addition, there are plans to extend the improvements to the platform’s other two main products: Vehicle-secured loans and Real Estate-secured loans.
Conclusion and lessons learned
This project reinforced the importance of conveying security and confidence to users in delicate financial situations. In addition, it highlighted the value of listening to and interpreting their needs to continually improve the experience;
With a user-centric approach, multidisciplinary team and data-driven decisions, we overcame challenges and achieved concrete results. A key learning was the need for a higher volume of initial invitations (around 8,000 emails) to optimize recruitment and ensure greater adoption.