Increasing loan disbursals and experience at Jar

Context

What is Jar?

Chess relies heavily on visuals for gameplay and strategy. Now, imagine playing it with your eyes closed. Some people do just that. In this project, I aimed to enhance the user experience for visually impaired chess players. I proposed a redesigned chessboard and a voice-controlled app, making the game accessible to professional players and all visually impaired individuals.

My Role and Timeline

Primary and secondary research, ideation, prototyping. This was undertaken from research to final designs for multiple problems under 2 months

Problem

We observed a significantly low CTR and conversion rate for loans.

Research

we started with users research to understand the core problem, we did both qualitative and quantitative research like user calling, in app surveys and a few user interviews to understand core problem

Findings

We identified that low visibility, poor comprehension, and a Repetitive process are causing a drop in user engagement.

Solution

1. Low Visibility

Many users reported not recognising loan features in the Jar app, even after interacting with it

Old Design

New Design

Design In Action

2. Poor Comprehension

We previously used a single flow for both pre-approved and real-time offers, causing confusion for users applying for multiple times

New Entry Points for Pre-Approved and Realtime offer Flow

Comparison of previous and new design

3. Repetitive Procress

In Real-time offer generation flow (RTF),Users can only apply for loan one lender at a time. With multiple lenders providing Real time offer user had to go one-by-one for each lenders.

Previously, users had to apply to multiple lenders one by one until they got a loan offer from a lender, which is repetitive and confusing process

4. More Problems

Product improvement is a continuous cycle; we’ve encountered two new challenges.

A. Attracting organic users.
B. Engaging users with good credit scores

A. Attracting Organic Users

Most users visiting the Lending Tab were existing Jar users. We faced a challenge to attract new organic users as “Jar Instant Loan” had no significant online visibility or availability.

To solve this we launched Jar Instant Loan web page with SEO.

B. High Credit Score Users

Once we began acquiring users from the web, we noticed that most had low credit scores. Based on an earlier insight that users actively searching for their credit score are more likely to have good credit, we launched the Jar Credit Score Checker to address this.

To solve this we launched Jar Credit Score Checker.

Future Scope

Improve underwriting with lenders.
Right now all the RTF flows are on Web integration on the lender’s side, we have to create deep integration for Multi-Lender Flow