Research, Wireframing, Prototyping, Design Handoff
Ledn is a Canadian financial platform that provides borrowing, saving, and trading services for the cryto-economy.
The goal of the project was to simplify Ledn's existing loan repayment process. Led by research findings, we developed a new automated repayment system and improved the experience for the user, as well as created a more efficient and scalable process for the company.
The existing loan repayment method relied on keeping up with a fragmented process for users and the Ledn staff. If a user wanted to initiate this transaction, they would have to get a quote through Email and have a limited 10-minute window to accept due to Bitcoin's extreme volatility.
This process was challenging to understand and execute for users, while also creating unrealistic processes internally for the small Ledn team that was susceptible to human error.
As the sole designer for the company, I was responsible of:
I worked alongside a UX Researcher and a Product Owner during the initial discovery state. We outlined the challenges of the current structure, conducted research to refine our focus, and gathered evidence to help us advocate for a resolution.
Our research methods included:
Our goal was to narrow down our scope by understanding the challenges that users and staff were facing while trying to complete the repayment process and compare what other financial and crypto companies were doing to resolve them.
We remapped the loan repayment journey from scratch. We reduced the number of unnecessary options and simplified the choices based on the loan status. We also implemented different automated repayment options, allowing users to complete some repayment processes without leaving the Ledn Platform.
Some payment methods could not be completed in the Platform due to limitations with banks, and that was okay. We were able to provide a much more guided process for the few situations where this was required.
We made the Loan-To-Value (LVT) field part of the main loan information hierarchy, which allows users to quickly understand the health of their loan and act upon it if needed. The LVT field also uses color and caption messages to make sure the user lower their risk of getting their collateral liquidated.
We reduced the amount of information and organized it in an isolated modal layout, which helps to understand, in simple math, how the repayment process is getting done. This strategy demystified the complex repayment options, such as when the user decided to sell part of the collateral to pay for a loan.