Date
February 22, 2016
Category
Design, UX/UI Design, Web DesignI was in charge of the ideation and design of a mobile app based financial product. The main goal at this stage was to come out with a new brand and concept for the app by following the business requirements.
The main requirement was to develop a concept for an app who permits the users to finance their purchases in a bunch of selected online shops, to smooth the application process and payment of the installments.
The main idea was to split the purchase into 4 installments generating a one-time usage credit card and reward the users when paying in advance.
The Problem
- Consumers sometimes have the need to split their payments, especially in those months when they have a peak of expenses.
- Current alternatives are to pay interests or contract a credit card. Consumers prefer not to pay for it and they don’t want more cards.
- Commerces want to sell now and sell more.
- Savers want to get a profit from their savings.
Solution
A P2P lending platform where
- Users can access to interest-free financing.
- Commerces can reach more users and increase average ticket amount.
- Lenders could make profit form their savings
- The power of machine learning makes sure that the borrowers can pay back
After an analysis of the competitors in the market and having a look to the previous UX research we came our for a new concept for the brand, a new value proposition and an app based financial product called We. :
How it works:
To enhance the purchases the app would promote the online shops with discounts and permit the users to finance at 0% interest rate. Once the user has selected the product he wants to buy he can finance the purchase by selecting how much he wants to pay in advance. A virtual credit card is generated and being used one time to make the purchase. The user will pay the purchase in 4 installments and manage their payments easily through the app.