An opportunity to diversify existing business lines and expand revenue by offering a non-Point of Sale consumer loan product by a company that has focussed entirely on Buy Now Pay Later loans to date.
My Role: Leading the design team for this new vertical at Bread from early concepts through initial launch and beyond.
Team & Timing
Wireframes
User Testing
20 Unmoderated Participants
US & Canada | Aged 26-62 | 7 Male, 13 Female
All participants had at least 2 credit cards
All participants had at least 2 credit cards
Quantitative
12 Score Based Questions
Quantitative
8 Open Ended Questions
Reactions were largely positive with 100% of participants rating the application and debt consolidation process at being ‘extremely easy to use’ and 95% saying that the overall offering would meet their needs if they were looking for a debt consolidation loan.
“This was incredibly easy to use, almost scary easy...you expect things like this to be very painful and almost anxiety provoking but this was so quick and easy.”
“Very easy and offers flexible payment options. The things that I needed to click on jumped off the page.”
“That is the simplest thing that I have ever done in relation to money.”
“If I was going to consolidate my debt, this is easy peasy super simple and I love not having to deal with a human being.”
“This is a really fantastic tool to help people to consolidate their debt, I really think that this is going to be huge!”
“This was incredibly easy to use, almost scary easy...you expect things like this to be very painful and almost anxiety provoking but this was so quick and easy.”
“Very easy and offers flexible payment options. The things that I needed to click on jumped off the page.”
“That is the simplest thing that I have ever done in relation to money.”
“If I was going to consolidate my debt, this is easy peasy super simple and I love not having to deal with a human being.”
“This is a really fantastic tool to help people to consolidate their debt, I really think that this is going to be huge!”
There were some snags though as can be expected with a first round of testing.
Marketing Landing Page - Users were enticed by no fees - although several thought that ‘fees’ included interest rates and felt that the information was misleading. Listing “Interest Rates As Low As 5.99%” should fix this problem.
Explore Loan Options - There was some confusion around term length. Several participants didn’t understand why the interest rates were going up - need to make this information more prominent on the cards.
Consolidate Credit Card Debt - Some confusion finding edit and delete icons in the details panel - might move them to be on the right or underneath the account information.
Explore Loan Options - There was some confusion around term length. Several participants didn’t understand why the interest rates were going up - need to make this information more prominent on the cards.
Consolidate Credit Card Debt - Some confusion finding edit and delete icons in the details panel - might move them to be on the right or underneath the account information.
Congratulations Screen - Would like to see more information about what happens next - timeline, when is first payment due.“
Design System
High Fidelity Designs
