Reimagined Mortgage flow - for ING
ING is a Dutch multinational banking and financial services corporation. This quick project pitch was done to showcase UX team's capabilities and the problems that a good UX is capable of solving.
This point of view specifically targets their global website and mortgage flow.
In a span of 2 weeks, we had to pull this off as a team.
We analysed their existing mortgage flow and reimagined it that proved to speed up the entire
application process by 90%
My Role
Researcher
User Experience Designer
Design Team
Poornima Parvathy,
Milind, Abhijeet, Kirti
Shivani, Vipul
Time
2 weeks
The Process
We started off by conducting multiple discussions with the stakeholders to know what their current mortagage flow is. How many days does it take for a user to process the application? What kind of users find it hard to go through this entire process. This gave us a base as how to proceed forward with this work.
Research
Define
Ideate
Test
Iterate
Their Pain points
Information Overload
Complex terminology
Uncertainty of eligibility
No service offerings upfront on the homepage
Long and time consuming mortgage flow process
What they expect?
Simple and fast process
Dedicated help, guidance
Lowest interest rates, maximum benefits
Interactive tools
Transparency in process and data
Solution
After detailed brainstorming, we could come up with 7 high priority themes, and then came down to ideating the solution.
Complete online mortgage application process
Quick eligibility check and confirmation
Better customer experience
24/7 AI chatbot for quick help and support
Detailed mortgage calculator for full transparency
User Personas
First time Buyer, Existing buyer and Elderly buyer
User Journey
After plotting Max's journey out, the next steps were clear - we got our focus points as to where we need to ease out the journey for users.
Competitor Analysis
For this scenario it was important that we guage how advanced/transparent or what kind of aspects the other players in the market had incorporated.
The Output
1. Home page - With clear service offerings
2. Detailed - step by step interactive Mortgage Calculator for Transparency
This step specifically helps a first time buyer or an elderly buyer who need confidence in the calculation before proceeding.
3. Online Application process for Mortgage that reduces the # of days from 30 to 3 days - a 90% speed up of the process with almost no anxiety and errors
Challenges we might face
- To what extent data can be fetched from X Portal (the portal where RFP details are stored by accounts team)?
- For this solution to work in its full potential, the history of RFPs, its details and the repository needs to be created - which is a cumbersome task.
- It is going to be a new system for everyone, and members might take time to get accustomed to enter the details, and deal mainly through the app.
- Confidentiality issues of certain RFPs need to be kept in mind.