Loan Application Platform Exploration

Project Overview

A digital product designed to simplify and streamline the loan application process for users. It provides an intuitive interface that allows users to explore loan products, compare quotes, and understand repayment terms before making a decision. The system presents a clear loan breakdown, including interest rates, fees, and repayment details, ensuring transparency.

Key features include:

• Loan application tracking across different stages.

• A breakdown of loan costs, including interest, fees, and total payable amounts.

• Interactive tools to help users understand benefits and considerations.

• Options to save, export, or email quotes for easy decision-making.

User Cases

1. First-time Loan Applicant

   • A small business owner exploring loan options to expand their business.

   • Needs to compare different loan quotes to find the best fit.

   • Uses the platform to understand repayment terms and associated costs.

2. Returning User with an Ongoing Application

   • A user who started an application but hasn't completed it.

   • Receives reminders about the pending application and its expiry date.

   • Resumes the application where they left off, updating necessary details.

3. Financial Advisor or Business Consultant

   • Assisting a client in selecting the best loan option.

   • Uses the quote export feature to share loan details with their client.

   • Analyses repayment plans and interest rates to provide recommendations.

4. User Concerned with Eligibility & Credit Impact

   • Wants to understand how the loan will impact their credit score.

   • Reviews the eligibility requirements and considers repayment impact.

   • Uses the “How we use your information” section to understand data usage.