Who is SAVY?

SAVY is the first independent peer-to-peer lending platform in Lithuania. The platform allows you to lend and borrow money from each other directly. With lower interest rates for borrowers and guaranteed returns for investors.

Project challenges

Since launching at 2014 Savy grew organically over the years. Due to their growth, new features were added, which brought further complexities and challenges. SAVY wanted to create intuitive and useful features which helped clients: filter, do actions and control loan and investment information.
Main tasks included: Investor’s and borrowers environment and registration process

1. Difficult to navigate.
Features were added over the years, making it hard to navigate around the platform. Promoting new features was difficult and added a lot of noise.
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2. Diverse customer needs.
Customers have a diverse range of set-ups and unique requirements. Savy needed to build a rock-solid foundation which provides flexible investing approach
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3. Minimising disruptions.
As the platform grows, so does its complexity. Savy required their platform to maintain its ease of use for new and existing users while evolving its functionality  with the addition of new and improved features

Strategy and Solutions

1. Market research.
In order to evaluate competitors in the market registration as investor was required. Market research consisted of onboarding process and user environment.

2. Information architecture.
With the help of the Savy team, the onboarding process was fully understood. Users completed a short registration to access their personal environment, but investing required an extra registration step. This lack of clarity caused confusion and disengagement. To fix this, we introduced clear step-by-step instructions for a smoother onboarding experience.
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3. Wireframing.
Sometimes it’s important to build on something as well as creating brand new solutions. The wire-framing process commenced by utilizing Savys' existing platform as a foundation and enhancing it with additional features. Throughout this process, careful consideration was given to Savys' requirements, objectives and collected data. User-friendly design principles were kept in mind in order to establish an intuitive structure.

4. Usability testing.
Two usability tests were conducted to assess the platform's interaction with users. These targeted casual and advanced investors, focusing on onboarding, loan investment, dashboard exploration, and new feature testing. A/B testing evaluated filter effectiveness and gathered feedback on features like the investing academy and investment level game, using gamification principles. A prototype was developed by the UX researcher to facilitate these tests. Group sessions were held to formulate and test usability tasks before actual user testing. I actively participated, taking detailed notes while the UX researcher led the tests.

Results

1. Onboarding process.
New and simplified onboarding process led users to complete it more efficiently

2. New dashboard.
In response to the need for a more refined dashboard, we embarked on a thorough market research endeavor. Armed with valuable insights and a solid concept in hand, we collaborated with Savy to adapt our ideas to their platform. During usability testing, users expressed great enthusiasm for the enhanced aesthetics and new features, particularly the inclusion of shortcuts. Despite encountering some minor setbacks, such as certain categories being non-applicable to investors, the overall feedback received was overwhelmingly positive.

3. Minimised disruptions.
‍Led to users keeping retention