Case study
Enhancing the Loan Borrower Onboarding Experience
How we redesigned Mutual's application flow to mitigate the impact of a strict credit policy, reducing drop-offs and recovering customers.
Client
Industry
Year
Status
Overview
The Scenario: Macroeconomic adaptation in a P2P fintech
Problem
The Challenge: An exhaustive onboarding with 98.5% of rejection rate
The drastic change of the approval policy exposed a critical flaw in the user journey: the onboarding process was extremely exhaustive and bureaucratic. Borrowers faced a long questionnaire requiring dozens of sensitive personal details, only to be redirected to a generic rejection screen in 98.5% of cases. This combination caused a severe impact on the brand's digital reputation, dragging ratings down to an average of 2.6 stars on the Google Play and App Store, with reviews flooded with complaints from frustrated users.
In addition to that, the product efficiency was compromised by a very high abandonment rate: 38% of users dropped off before even completing the onboarding process. The flow lacked conditionals to make it smarter and mechanisms to engage and recover leads. The design challenge was not only simplifying screens but also mitigating the impact of rejection, rebuilding the brand's perception of value, and creating viable alternative pathways for rejected loan borrowers.