Loana
Loana
A BETTER WAY TO ACCESS QUICK LOANS
A BETTER WAY TO ACCESS
QUICK LOANS
OVERVIEW
OVERVIEW
Loana is a financial credit and saving app built to offer students in
tertiary institutions in Nigeria easy, quick and fair access to loans for their
educational and basic needs.
We have recognized the difficulties faced by students with limited source
of income in accessing fair loans for dire situations and the need for a good
saving culture.
Loana is a financial credit and saving
app built to offer students in tertiary
institutions in Nigeria easy, quick and
fair access to loans for their
educational and basic needs.
We have recognized the difficulties
faced by students with limited source
of income in accessing fair loans for
dire situations and the need for a good
saving culture.
Students are not exempted from the
harsh effects of the Nigerian economy;
from school fee to handouts to keeping
up with other financial needs,expenses
can be such a burden to students.
Maintaining a good savings culture
amidst this can even be tougher. We
acknowledge existing loan apps but
none has been created to perfectly
suit the needs of the student.
WHAT'S THE PROBLEM
WHAT'S THE PROBLEM
Students are not exempted from the harsh effects of the Nigerian economy;
from school fee to handouts to keeping up with other financial needs,
expenses can be such a burden to students. Maintaining a good savings
culture amidst this can even be tougher. We acknowledge existing loan
apps but none has been created to perfectly suit the needs of the student.
UNDERSTANDING THE USER
UNDERSTANDING THE USER
Empathizing with the users helped me gain a deeper understanding of
user needs. Using the qualitative research process, I interviewed 5
individuals, Some of the interview questions I asked
What do you know about loan apps in Nigeria?
What problems do you think people experience in using the loan app?
What do you think should be done differently?
What interest rate do you think is fair for students?
If you could work or start a loan company, how would you ensure
customers payback their loans?
Empathizing with the users helped me
gain a deeper understanding of user
needs. Using the qualitative research
process, I interviewed 5 individuals,
Some of the interview questions
I asked
What do you know about loan
apps in Nigeria?
What problems do you think
people experience in using
the loan app?
What do you think should be
done differently?
What interest rate do you think
is fair for students?
If you could work or start a loan
company, how would you ensure
customers payback their loans?
IDENTIFYING USER NEEDS
From the interview, I was able to deduce the problems user face
using loan apps. Some of these pain points include
Long registration process
Poor customer service
High loan rates
Short payback time
.
IDENTIFYING USER NEEDS
From the interview, I was able
to deduce the problems user face
using loan apps. Some of these pain
points include
Long registration process
Poor customer service
High loan rates
Short payback time
USER PERSONAS
From the data gotten from the interview, I was able to create 2 user
personas, these personas represents the potential user of the app
USER PERSONA
From the data gotten from the interview,
I was able to create 2 user personas,
these personas represents the
potential user of the app
NEW DESIGN
In other to reduce bounce rate, we made sure the hero section which
is the first touch point of the user, has all informations users would need.
" Can't find your trip' to get suggestions of routes
THE SOLUTION
Brainstorming on the pain points identified while interviewing the users,
I was able to come up with the following possible solutions
A short registration process
Share/split bill feature In refunding loan, users can seek help from
family/friends
Flexible interest rate
Installmental payments
Subtle reminder messages
THE SOLUTION
Brainstorming on the pain
points identified while i
nterviewing the users,
I was able to come up
with the following possible solutions
A short registration process
Share/split bill feature In refunding l
oan, users can seek help from
family/friends
Flexible interest rate
Installmental payments
Subtle reminder messages
Results and outcomes
This project has given me more insight into the process of UX research, I have learnt that in providing solutions
to a problem, asking the right questions from the right target audience, will provide all necessary informations,
every data needed is with the users, we just need to ask the right questions. I have also learnt that engaging in
quality research helps to simplify the design process, as you already have a direction of how the design should
be implemented.
After sharing the prototype with several people, the feedbacks werre good, Although there is still more to do,
to ensure users payback loan, we believe leveraging on good customer relationship, will build trust, this does not
guarantee that all users will be responsible and considerate.
Results and outcomes
This project has given me more
insight into the process of UX
research, I have learnt that in
providing solutions to a problem,
asking the right questions
from the right target audience, will
provide all necessary informations,
every data needed is with the users,
we just need to ask the right
questions. I have also learnt that
engaging in quality research helps
to simplify the design process, as
you already have a direction of how
the design should be implemented.
After sharing the prototype with
several people, the feedbacks
werre good, Although there is
still more to do, to ensure users
payback loan, we believe
leveraging on good customer
relationship, will build trust, this
does not guarantee that all users
will be responsible and considerate.