Loan Management

There are many types of loans that banks offer retail users, but the financial jargon can be overwhelming. We introduced three types of loans and designed them using terminology familiar to our users.

About backbase

Backbase is a fintech company that helps banks around the world modernize their digital banking platforms. Designers and developers at Backbase will research, design, and build web and mobile banking products and features.

My Role

I was the main UX designer on this project working with 1 PO, 1 BA, 1 UX researcher, and one team of web developers. Our stakeholders included the Product Manager for Retail Banking, the Product Manager for Business Banking, and our Customer Success team.

The challenge

Adding three types of loans
to our platforms

With more banks requesting the ability to incorporate loans, we added three types of loans to our platform; Mortgage, Line of Credit, and Term Loan.

Our Business Banking department already had some of these loans incorporated, but we were unsure if all of the information was relevant for retail users.

Loan Management

Business Goals

⭐️ Incorporate loans into the platform

⭐️ Make sure loans are paid back on time

⭐️ Reuse as much of the Business Banking capability as possible

Loan Management

User Goals

⭐️ Have a high level overview of their loan

⭐️ Make payments on their loans

⭐️ Find loan details

The challenge

What were our concerns?

Most of our questions were centered around making sure that users were actually able to understand the information that they were looking at.

Is the equation relevant and easy to understand for retail users?

Are the labels easy to understand?

Should we highlight the amount owed or the amount remaining?

What goals do users want to accomplish when accessing their loan accounts?

What statistics would users expect to see inside their loans?

User testing

Gathering insights

Due date and due amount is one of the most important pieces of information that users look for

A mortgage usually has the same amount needed to repay monthly, but the amount can change for a line of credit.

Interest rate is a valuable piece of information to see upfront

User testing

Pain Points

Participants were confused about the equation section. They’ve never seen their information presented like that.

Showing a progress bar on an extremely long-term loan like a mortgage is actually very demoralizing to look at.

Some of the labels on the progress bar seem too “jargony”

Is the value in blue on the progress bar how much I owe or how much I have left to pay?


Which labels would users prefer?

User interviews were conducted to choose user-friendly terms for labeling statistics in loan accounts.


Final Implementation

The amount and date of the next payment is highlighted at the top of the container

Progress bar removed for Mortgage loans

Labels updated to be more user friendly

Confusing equation was removed

All loans show stats for how much is owed and how much is left to be repaid.