UX/UI, and strategy for micro-loan app.
Project Owner: Sahar Sarabandi
Client:
Branch, based in San Francisco and Nairobi, has a mission to deliver world-class financial services to emerging markets.
In Kenya and Tanzania where mobile services are in demand, credit scores don’t exist and the outdated systems of traditional banks make it nearly impossible for an average person to get a loan. Branch saw an opportunity to change this by using data science to qualify applicants and offer them loans in a matter of minutes, right through their smartphone.
Problem:
Build Trust and transparency through the user experience of Branch loan process.
An average user in Kenya, who doesn’t have money to start and grow a business, needs to be able to apply for micro loans and build their credit score. However, they can’t trust and interact with new brands especially when it comes to financial services. More that 50% of people who download Branch app, do not sign up.
Project goal:
Attract first time loan borrowers. Help users get better loans.
Improve the UX of micro-loan process for emerging markets globally, with the purpose of attracting more first time borrowers and encouraging existing users to apply for more loans.
Outcome:
The redesign of Branch app on Android has had a continuous positive impact on the loan disbursement rate and user experience, since the app was launched.
Branch has seen unprecedented global growth, now operating in Nigeria, Kenya, Mexico and India. Users in these countries have downloaded the app over 5 million times. Also, Branch has now processed over 14 million loans worth over $350 million across these countries. Most recently in April 2019, the company announced a $170 million funding.
