According to Investopedia, a default occurs when a borrower is unable to make, misses, avoids or stops payments.
From our research, we were able to deduce the following:
100% of the population accented to the fact that they have faced the problem of credit defaulters.
The prevailing methods of solving this problem are disposing of collateral and summoning the guarantor, and 67% indicated that these methods have not been totally effective.
After validating the problem through user research, 100% of the users indicated interest in a product that would solve their problem in this way, and the willingness to provide the necessary information to use such a product.
Financial organization need to know if a user will default a payment or not
The users consist of financial managers, loan officers and Data scientists which needs a model and working algorithm to determine their customer’s behavour towards loan and credit card payment
Creation of a platform that enables the financial institution to run the prediction
Creation of a platform from which the users can connect to their database to automatically update on the web app
The users will be able to do the following with the information website and tracking platform:
Predict if an applicant will default a payment
Send message of response to the applicant
Check lists of applicants who submitted through the institution portal
Export applicants data
It was a team work of 3 UI designers so we shared the the task and my role was to design the dashboard Web App as well as the Wireframes and the High Fidelity Prototype. I contributed to the thinking process which include the research, survey and the user personas
Onboarding (Sign Up/Sign In)
As a user I would like to
sign up and start using the App/Product immediately
Create an account if I don’t already have one to help personalize the experience
Sign in if I already have an account
Recover Login details if I lost them
Learn about the product and what it can do
As a user I would like to:
View my profile
See the list of all customers (approved and disapproved)
See the list of customers who applied for credit cards
See the total number of loans/credit card given out
See the list of customers for credit cards
See the list of disapproved customers and why
See a chart of customers who might default, compared to those who might not
Chat with a customer
Send updates and decisions to customers.
See FAQ section to learn how to use the product.
Report a bug
See / provide the necessary customer details for the predictions
Obtain a prediction result from the algorithm after providing the required details