Credit Lending - Customer Journey

journey fintech lending ux

Credit lending is one of the most complex journeys in fintech, requiring a balance between compliance (regulatory adherence) and user experience. This journey typically involves multiple verification steps and requires users to provide a great deal of sensitive information.

Ms. Hoa

Grocery store owner

"I need to borrow 20-50 million quickly to stock up for Tet; a simple process is all I need"

MICRO

Mr. Minh

Director of a trading company

"I need a flexible credit line to keep my business capital circulating"

SME

Ms. Linh

CFO of a manufacturing group

"We need a long-term project financing package with competitive interest rates"

CORP/FDI

Criteria	MICRO	SME	CORP/FDI
Number of Accounts	1-2	5-20	50+
Transactions/Month	<100	100-1000	1000+
Control Requirements	Low	Medium	High
Number of Users	1-2	5-20	50+
Admin Management	None	Basic	Essential
Reporting	Basic	Standard	Advanced & Custom

Journey Map

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STAGE 1: DISCOVERY

User: Customer has a financial need Goal: Explore suitable loan packages

STAGE 2: APPLICATION

User: Customer has chosen a loan product Goal: Complete the loan application quickly

STAGE 3: PENDING

User: Customer has submitted the application Goal: Know the status and waiting time

STAGE 4: DISBURSEMENT

User: Application has been approved Goal: Receive the loan funds quickly

ACTIONS

• Open the app and go to the Loans section

• Browse the list of loan products

• Compare interest rates and terms

• Use the loan calculator tool

• Enter the desired loan amount

• Choose a repayment term

• Fill in personal information

• Upload ID card

• Take a verification selfie

• Check the application status

• Check notifications

• Submit additional documents if needed

• Contact the hotline for updates

• Receive the approval notification

• View loan details

• Sign the electronic contract

• Choose the account to receive funds

• Confirm disbursement

TOUCHPOINTS

• Promotional banner on Home

• Loans/Credit menu

• Loan calculator widget

• Amount input screen

• Multi-step form wizard

• eKYC camera interface

• Document upload UI

• Application status screen

• Push notification

• SMS updates

• In-app chat support

• Approval notification

• Loan summary screen

• e-Contract signing flow

• Success confirmation

PAIN POINTS

• Interest rate information is unclear

• Unsure whether they qualify

• Too many product types causing confusion

• Form has too many steps

• eKYC camera is hard to use

• Unsure what to prepare beforehand

• Loss of data when the app crashes

• Unsure which step the application is at

• Waiting time is unclear

• Hard to reach support when needed

• Contract is too long and hard to read

• Disbursement is slow

• Repayment schedule is unclear

UX RECOMMENDATIONS

• Pre-qualification: Let users check preliminary eligibility before applying

• Transparent pricing: Clearly display the effective rate (APR) and total amount payable

• Personalization: Recommend products based on the user's profile and behavior

• Progressive disclosure: Break the form into reasonable steps

• Save progress: Auto-save so users can continue later

• Clear instructions: Clear guidance for each step, especially eKYC

• Real-time tracking: Display a detailed timeline of the approval steps

• Proactive communication: Push notifications for every status change

• Estimated time: Indicate the expected completion time

• Contract summary: Summarize the key points of the contract

• Instant disbursement: Disburse immediately to an internal wallet/account

• Clear repayment schedule: Display a detailed repayment schedule right after disbursement

Key Metrics

Metric	Description	Target
Completion Rate	% of users who complete the application	> 60%
Time to Apply	Time to fill out the form	< 10 minutes
Approval Rate	% of applications approved	> 40%
Time to Disbursement	Time from approval to disbursement	< 24h
NPS	Net Promoter Score	> 50

January 15, 2024