Upwards: Customer experience for quickest and easiest loan application via app

I, along with the client, aimed to create the quickest and easiest loan application experience for young salaried individuals in India. Upwards provides hassle-free personal loans up to INR 5 lakhs, serving a diverse range of professionals from teachers to software engineers, accountants, retail store employees, and nurses. Our services cater to individuals earning a minimum monthly salary of Rs. 15,000, available in more than 45 cities across India.

Website: https://upwards.in/
App: https://play.google.com/store/apps/details?id=com.goupwards

Scope of work

UX Design:
Upwards had an existing app with a user base familiar with its flow. Our approach focused on refining the user experience to enhance functionality without disrupting the familiar navigation patterns.

UI Design:
The primary objective was to improve the visual design, making it easier for new users to complete forms and engage with the app seamlessly.

Interactive PoC:
We developed a fully functioning interactive prototype, enabling stakeholders and clients to experience the app and provide valuable feedback.

Timeline

Challenges

To be very true, the only challenge in redesigning UpWards was to finalize a theme that would be:

• Easy to use
• Easy towards the eyes of the user
• A design where people won’t mind coming back again and again
• Something with a serene color scheme

The primary user base of UpWards are millennials and people who are starting their career and they are someone who is looking for a loan, and in a quicker way, they do not want to go through the hassles of visiting a bank, filling up long forms and doing hundreds of signatures, and we had to keep that mindset in our mind while designing the app.

Interviews

During the user interviews trying to understand peoples pain-point and how they choose their preferred tools and platforms, we interviewed people from different professions, who are starting their career and looking for quick loans. We talked to some existing customers and some users who match the profile of an ideal loan applicant.

User Persona

To create a successful app it is important to understand the types of people who’ll use the app. To do this, we created user personas which will allow us to perform quick testing of assumptions and prioritizing of features during the development process.

Persona 1: Suman Ghosh

26 years old, male, working at an MNC as a software tester, earning INR 5.5 lakh per annum, lives with family in Mumbai.

Problems:

1. Rajiv finds traditional loan processing time-consuming and inconvenient due to his busy work schedule.
2. He needs a quick and straightforward way to apply for a loan without extensive paperwork.
3. He is frustrated by the lack of transparency in loan terms and conditions.
4. He prefers digital solutions but finds many apps are not user-friendly.
5. Rajiv is concerned about the security of his personal and financial information.

Persona 2: Sushmita

Profile: 27 years old, female, working in an MNC, earning INR 75k per month, with 3 years of experience.

Problems:

1. Sushmita values efficiency and prefers digital solutions that save time.
2. She finds existing loan application processes cumbersome and seeks a more streamlined and user-friendly option.
3. She struggles with the lengthy approval times of traditional loans.
4. She is looking for a solution that offers clear and competitive interest rates.
5. Sushmita wants an app that integrates seamlessly with her financial management tools.

Persona 3: Shubhendu

33 years old, male, entrepreneur, earning up to INR 50 lakhs per annum.

Problems:

1. Shubhendu has limited time to visit banks and complete lengthy forms.
2. He requires a quick and reliable loan application process that fits his busy schedule.
3. He needs a flexible loan solution that can accommodate the fluctuating income from his business.
4. He is concerned about the impact of loan applications on his credit score.
5. Shubhendu seeks a loan provider that offers excellent customer support for any queries he might have.

Research and Decisions

During our user interviews, we engaged with individuals from diverse professions who are starting their careers and looking for quick loan solutions. By talking to existing customers and users matching our ideal loan applicant profile, we identified key pain points and preferences:

• Convenience: Users want a hassle-free application process without visiting banks.
• Speed: The loan approval process needs to be swift to cater to urgent financial needs.
• User-Friendly Interface: A clean and intuitive design is essential to keep users engaged and encourage repeated use.
• Transparency: Clear information on loan terms and conditions is crucial for trust.
• Security: Ensuring the security of personal and financial information is a top priority.

Challenges

Redesigning the Upwards app presented several challenges, primarily focused on finalizing a theme that would be:

• Easy to Use: Ensuring the app is intuitive and straightforward.
• Visually Appealing: Creating a design that is easy on the eyes.
• Engaging: Developing a serene color scheme to enhance user retention.

Our primary user base comprises millennials and early-career professionals seeking quick loan solutions without traditional banking hassles. They desire a streamlined process devoid of extensive paperwork and numerous signatures, a mindset that guided our design approach.

UX Flow

Wireframes

Visual Designs

The redesign of the Upwards app focused on creating a user-friendly, visually appealing, and engaging experience, making it the go-to solution for young professionals seeking quick and hassle-free personal loans.

I made sure that we were following the Success Centered Design or SCD which is a combination of UX+TAPE, (Trust, Attachment, Persuasion and Emotion)

Fin!