Loan Match
Our objective was to create an intuitive experience that matches users with the best available loan options based on their information (in real-time).
The problem
Our second highest trafficked page is our mortgage rate table. Upon many rounds of user testing, we found that users were spending a lot of time with our rate table search and filters and were still intimidated and confused by the number of results displayed after filtering. We also found out that 50% of our traffic was return users. This told us that we were doing a good job of getting users interacting with our site, and giving them a best in class experience since they kept returning. But how can we give them the confidence they need to make the decision to move forward?
Solution: Personalization
Users wanted to know that we were reputable, and had many loan offers available, but they also were intimidated by the many results that we offered. So we hit the competitive market. What were others doing in this space to solve for this concern? And the answer was "Nothing". Everyone was doing the exact same thing. Everyone had a very similar experience.
Do you remember that old Cars.com commercial that ran on TV? Man in middle of screen shouting out "I want a blue car" "convertible" "SUV" "etc"? I do, and that is what came to my mind when thinking of how people could be shopping for loans personalized.
The Solution is Loan Match
LoanMatch is a highly personalized experience that takes the users preferences into consideration when "matching" them to a loan. What is important to the user? Quick closing? Local branch? Low monthly costs? All of those additional question are used to help us calculate the best "match" for you. In the end, the user is presented with up to 3 loans with a rating, letting them know how close of a match they are...and more importantly, why.
