LoanFriends
Nigerians seek a safe space to borrow or lend money securely, meeting financial needs or aiding friends and relatives in times of necessity.
About LoanFriends
There is a huge opportunity in the market to explore the p2p loan space in Nigeria. Today, many customers(lenders and borrowers alike) need a safe and secure space to borrow and lend money to meet up with financial needs or help friends/relatives in need.
Lenders want to borrow money to their friends and family with a considerable level of assurance that they’ll get back their funds in due time with/without interest.
What I did
Designing the feature end-to-end, working closely with engineering to craft lending and borrowing experiences in detail.
Understanding Users (Research & Discovery)
I studied competing apps like P2vest, Abeg’s Bail Me, and Barter by Flutterwave, discovering gaps in essential features like automated loan reminders and structured loan schedules, valuable for enhancing our own app.These apps, widely used by Nigerians, served as benchmarks for similar features.I also gathered insights through user interviews, focus groups, and surveys to comprehend user behaviors, pain points, and expectations.
Ideation & Prototyping
Working alongside diverse teams, we ideated features meeting user needs, translating them into wireframes and prototypes that prioritized simplicity and security.These prototypes underwent iterative testing with our target users, refining the interface and bolstering usability through continuous enhancements.
Design Implementation
In this stage I crafted an intuitive interface prioritizing seamless navigation and user support.Additionally, I incorporated features such as repayment reminders, and recovery mechanisms, amplifying user trust and reliability within the platform.
Design Implementation
I also designed a landing page that explains the new feature's benefits and allows users sign up for beta testing or join the waitlist.
Impact
Loan Friends allows you to connect with friends and family, help out loved ones with finances and get your money back easily. You can easily track your loans also.
Lesson
To make sure a product satisfies the user's needs in the simplest way possible, usability tests are essential.
Final note
Although most of the participant feedback after testing the prototype was favorable, A broad and diverse view on how the users we are solving for believe it can be better is provided by doing a wide range of user research. It undoubtedly helped make the P2P lending simple. The iterative cycle of testing and improving the prototype will continue, as intended.