iwoca

Loan application and management

On joining iwoca, I was tasked with overhauling the loan application and management experience for our clientele, predominantly SMEs. Internally termed "Account Pages," the objective was to facilitate a nimble, self-service process, enabling businesses to make swift financial decisions, vital for those grappling with the common issue of outstanding invoices.

Our tailored services cater to the frequently overlooked SMEs by conventional banking sectors. For these enterprises, the protracted loan processing time is a luxury they cannot afford.

Challenges

My initial observations at iwoca unveiled a reliance on manual processes involving account managers, which was a bottleneck for prompt decision-making. My goal was to refine the application journey, ensuring instant decisions for loans up to £10,000 and quick turnarounds within 48 hours for more substantial sums, through an optimised online experience.

Teaming up with a researcher, I set out to dissect the existing application pain points. To fine-tune our service offering, we developed a series of prototypes, each rigorously tested through live feedback sessions and platforms like usertesting.com.

As the key designer, I collaborated closely with the project manager, scrutinising extensive user interaction data from analytical tools such as HotJar and FullStory. This was instrumental in pinpointing our customer's obstacles and designing bespoke solutions to alleviate them.

Mobile first

With mobile usage escalating amongst our customer base, prioritising a faultless mobile experience was paramount. The ambition was to ensure the mobile application process was as intuitive and user-friendly as the desktop variant, providing our clients with the convenience of managing their finances on the move.

Orion - iwoca's first design system 

I led the creation of Orion, iwoca’s design system, to bring consistency to our products’ user experience and visual design. Before Orion, the designs were fragmented, with each project following its own set of rules, which made it difficult to create a unified brand experience. By developing a shared set of elements—such as typography, colours, icons, and interaction patterns—I helped streamline the process for both designers and developers. I worked closely with our front-end developers to ensure Orion would be scalable and flexible enough to support the team’s needs as it grows.

Outcome

The project culminated in a user-led "Account Pages" platform that simplified the loan application process, endowed users with self-service options, and provided a streamlined identity verification process. The fruits of this endeavour were reflected in the uptick of successful loan applications and management, affirming the platform's effectiveness and user contentment.