Problem
Carputty, an auto financing startup, lacked the technical ability to process joint applications. This limited the amount of interested applicants and prevented Carputty from marketing their software as a service to other companies.
Carputty Joint Apps
Carputty's Underwriting software lacked the ability to process joint applicants. This limited the number of eligible applicants, restricting revenue opportunities, and decreased the attractiveness of the company's software as an SAAS offering. I conducted user research on the Underwriting process and redesigned the internal software to be able to process joint applicants. This project has been developed and released, resulting in an expansion of revenue generating capabilities and improvements in applicant elegibility tracking for the company.
1380 Applicants Declined
Number of monthly declined applicants who may have benefited from a joint application option.
Solution
One-Stop Application Summary
An application dashboard provides an overview of application health for Underwriters.
This includes credit and income data, as well as any fraud alerts.
This includes credit and income data, as well as any fraud alerts.
Credit Health
Underwriters can access a detailed breakdown of each applicant's creditworthiness, including insights into bankruptcies, overall credit scores, and estimated income from Experian.
This feature empowers rapid evaluation of potential risk factors in each application.
This feature empowers rapid evaluation of potential risk factors in each application.
Payment History & Risk
Underwriters can effortlessly review tradelines and evaluate the total monthly debt amount.
Tradelines with a history of risky payments are prominently highlighted, providing a clearer picture of an applicant's financial situation.
Tradelines with a history of risky payments are prominently highlighted, providing a clearer picture of an applicant's financial situation.
Highlighting Application Roadblocks
To streamline the underwriting process, notifications guide underwriters toward essential action items.
High-priority issues, such as fraud alerts on credit reports, are addressed promptly, ensuring that applications begin processing securely.
High-priority issues, such as fraud alerts on credit reports, are addressed promptly, ensuring that applications begin processing securely.
Keeping Applicants Updated
Applicants are kept in the loop with timely notifications, whether it's providing updates on their application status or alerting them when they need to take action or wait for their co-applicant.
Research
Card Sorts & Interviews
I conducted a card sort activity with our company's underwriters to determine the best way to organize joint applicant information.
Object Oriented UX
Given the complexity of handling data from two applicants, I turned to Object-Oriented UX (OOUX). I organized information based on underwriters' mental models by referencing card sorting insights.I also worked with the engineering team to understand feasibility of this data structure from the back-end.
Design
User Flows
The design process began with a focus on crafting comprehensive user flows. This helped ensure that suggested features met process / technical requirements prior to prototyping.
Iteration & Testing
At each stage of fidelity, I focused on testing specific aspects. Earlier testing focused on evaluating information hierarchy. Later, I focused on assessing content and terminology.
Tracking feedback
I tracked changes visually in Figjam to promote collaboration with product owners.I also kept an updated confluence document outlining progress updates and their direct connections to research discoveries.
Interactive Prototype
Critical insights gathered from usability testing informed the iterative design of a high-fidelity prototype.This prototype underwent thorough usability testing to assess its effectiveness in enabling underwriters to carry out their tasks.
Reflection
This project's sheer size required careful handling. It was vital to clearly define project scope. Trying to solve every possible problem was impossible, and I needed to prioritize design features for maximum impact.
Despite occasional information delays from our credit and financing departments, effective communication through precise questioning and documentation helped align the project with our business practices and legal requirements.
These conversations allowed for future planning, enabling us to prioritize essential business and user needs, as well as consider "nice-to-have" features for later implementation, even if not feasible within current time or budget constraints.