Overview
RupeeCircle is a Peer-to-Peer (P2P) lending platform that connects borrowers with investors. The platform was launched in 2018 and has since then facilitated loans for thousands of borrowers. The platform’s current website design is outdated and does not provide a user-friendly experience for its users. The management team has decided to redesign the website to improve the user experience and attract more users.
Goals for the redesign
- To deliver a personalized experience and intuitive user interface.
- Propose a more engaging and seamless P2P lending experience to “make borrowing better and lending smarter” and ensure financial gains for both.
How does P2P lending work?
P2P lending platforms are popular alternative to traditional loans and investing options. RupeeCircle cuts the middleman to connect people who need money with those who have money to invest. This results in a win-win situation for both investors and borrowers with borrowers getting funded easily and investors earning great returns.
Challenge
The scope of this case study is to make Rupeecircle processes transparent and trustworthy for the users, let investors take complete control of their money, and let them decide how to invest it. Therefore, the redesign includes creating a new flow and design for users to search for desired investors or borrowers, setting up their profile with minimum clicks and no hassle, and building their credit score and profile.
Design Process
The design process carried out in this research is using the Design Thinking methodology.
Objectives
- Focus on Investors flow and find out users’ behavior while investing their money on P2P lending websites and what factors help gain users’ trust in P2P online platforms.
- Find out what pain points users face while investing or borrowing on the RupeeCircle app.
- Find out after lending experience on the RupeeCircle app.
Heuristic evaluation and user research
I observed by trying out the current Rupee Circle app and seeing where I feel constrained when interacting
with this app. After trying the app, I noted a few points that could be potential problems when users use the Rupee Circle app.
How Might We
User Flow Registration
Users could not look for investment options in the current user flow before logging into the app and completing the KYC process. Often, users don’t meet the lengthy profile setup and instead go for other competitor apps.
I updated the user flow for the registration process to gather more information that helps the new users engage with the app and explore investment options beforehand. Revised User Flow describes the users’ steps to register into the app and complete their profile.
Revamped Style Guide
Rethinking of Login page
While redesigning the login page, I replaced incoherent Illustrations with RupeeCircles’s logo and vibrant custom color schemes to provide a consistent look and feel right from the application’s first screen.
I wished to increase users’ focus on the login CTA, thus making it more prominent. Also, I added ‘forgot password’ to change and reset passwords and let users get back into their accounts.
Current flow Vs Updated flow of registeration process
Users could not look for investment options in the current user flow before logging into the app and completing the KYC process. Often, users don’t meet the lengthy profile setup and instead go for other competitor apps.
I updated the user flow for the registration process to gather more information that helps the new users engage with the app and explore investment options beforehand. Revised User Flow describes the users’ steps to register into the app and complete their profile.
Current flow Vs Updated flow of registration process
Current flow Vs Updated flow of registration process
Borrower's list/market place (Before)
Apart from adding new engagements, some tweaks have been done to each card or list item to improve the home screen’s experience.
Borrower's list/market place (After)
Apart from adding new engagements, some tweaks have been done to each card or list item to improve the home screen’s experience.
Quick Design Sprint
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