iZettle Capital - Defaults
My role: Senior UX designer
Year: 2019
14% of all Advance loan takers underperformed during the repayment flow. That meant they repaid late or not at all. We as a team had to understand why was this happening and how could we reduce this number of users underperforming.
We were 2 designers and a PM with a goal to make ∼30 brilliant people from areas such as Credit, Machine Learning, Risk, Customer Support, Marketing and Tech think and solve problems together.
Our plan
Map activities & problems (product journey mapping)
Summarise, vote & prioritise
Come up with solutions
One of the outcomes from the workshop that we implemented was a “traffic light” banner in the user’s loan repayment dashboard. The banner would change colour and message depending on the repayment status. This helped users understand if they were falling behind, why and what to do to keep up with the down payments.
Results
🏆 Reduced defaults by around 20%
🏆 Risk and Credit teams reviewed their ways of working after discoveries during the workshops
🏆 Stakeholders understood the potential of Design as an important strategic partner
🏆 This project allowed all the teams working with iZettle Capital to get to know each other and better collaborate
🏆 Our next project after this was a much wider journey map work that served as a base for the following year’s roadmap (see iZettle Advance - Customer Journey)