Online Personal Loans — Product Strategy Revamp
PRODUCT DESIGN FACILITATOR AND RESEARCHER
About
A series of collaborative workshops were conducted as part of a multidisciplinary team to agilely test a set of product innovation hypotheses. The goal was to enhance customer satisfaction in an online personal loans service in Mexico and identify scalable areas of opportunity for the product’s operation.
Design Challenge
With seven years of consistent growth, the product was ready to explore innovation areas that would motivate customers to adopt the solution in their lifestyle so they can achieve their financial goals.
For the development of this project, it was essential to determine actions to promote user retention and prevent over-indebtedness, while addressing critical issues that overwhelmed the product’s operation, threatening business growth objectives and customer satisfaction.
Actions
My primary role was to facilitate collaborative workshops, where I defined the methodology and scope of the process. Additionally, I led the user testing cycle that resulted from the work sessions and documented the insights for dissemination within the organization.
The following stages were carried out for its development:
- The first step involved establishing connections with key players in the product strategy and assembling a team with leaders from Business, Marketing, Data, Engineering, Design, Product Management, and Operations.
- Together, we interviewed a series of experts directly involved in the day-to-day product operations and identified issues related to scalability, redundancy in operational processes, and responsiveness to interruptions in the user flow.
- We agreed on the points of interaction in the user experience where problems had the greatest impact and created a hypothesis centered on providing certainty to the user about important actions to take, with an emphasis on making it clear to the customer how to reach more convenient solutions.
- We consolidated a prototype that incorporated the solution ideas that prevailed in the sessions and addressed the hypothesis.
- The prototype was tested with real customers to identify aspects of reliability, clarity, and motivation to complete the process.
Thoughts
Throughout this process, diversity of perspectives played a fundamental role in objectively prioritizing challenges, enabling us to act with agility and complete the process in one week.
It was surprising to observe reactions from participants to our solutions, providing us with a deeper understanding of their financial needs and credit expectations. This knowledge not only influenced our design decisions but also allowed us to identify aspects of the product that required immediate attention and provided valuable insights for business decisions.
Thank you for taking the time to read this experience! 🤍
If you’d like to discuss this case further, let’s get in touch via LinkedIn.
— Hilde.
