My past encounters with loan brokers led me to design a platform that helps business owners minimize their reliance on brokers
LEEN
LEEN was created for my product management course with the main goal of streamlining the loan application process for business owners and the banks. This product design was inspired by my personal experiences working with loan brokers while in the finance industry. I started with a product vision and extended it to the go-to-market strategy.
Project
Solo Academic Project: Product Management Certification
Role
UX/UI Designer
Product Manager
Duration
8 Weeks (2023)
Tools
Figma
THE PROBLEMGetting a commercial loan is not a quick nor an easy process.
The application process is long and complicated, with a lot of paperwork and financial jargon, making it very intimidating.
That is why business owners oftentimes hire loan brokers to help them source the best deal (and this does not come cheap!).
Unfortunately, some brokers make it harder by putting their own interests first and working with specific lenders. This causes distrust and tension among all stakeholders.
Note: I do want to emphasize that there are also many trustworthy and reputable brokers in the field.
WHAT MAKES LEEN UNIQUE?Business owners and lenders can start building their relationship immediately.
Through LEEN, business owners can effortlessly compare financing proposals received directly from banks and connect with bank representatives for any questions or inquiries right away instead of going through a middle man (aka the broker).
My primary aim was to assist business owners in securing the best financing. To achieve this, I organized the application into six easy-to-follow steps, providing tooltips for guidance and straightforward term comparisons.
LEEN is free of charge for business owners — it earns a referral fee from the lender upon successful funding.
BRANDING‘Leen’ is the Dutch origin of the term ‘Loan’ and highlights the platforms goal of streamlining the loan application process. A play on words, it is also a nod to Lean Product Management principles.
I chose a minimalist grey/blue color palette to uphold the platform's professional appearance.
WHAT'S NEXT?Further, I have only designed how business owners will use LEEN. As this app would also be used by lenders, I would like to design it for these users next.
As LEEN is an academic project, success would be measured using metrics if it became functional (e.g. user acquisition, net promoter score, conversion rate).
