John Hancock Loan Management System
John Hancock, a trusted financial services company, aimed to enhance its customer experience by developing a user-friendly loan management and payment app. The goal was to provide a seamless and intuitive interface that simplifies loan tracking, payment scheduling, and financial planning for users.
2019
Client
Aliaswire Inc
Problem Statement
Managing loans can be complex and overwhelming for customers, often leading to missed payments, financial stress, and confusion about repayment options. John Hancock identified the need for a digital solution that provides transparency, automation, and ease of use in loan management.
Compliance and regulatory concerns
Objectives
- Develop a mobile app that allows users to manage their loans effortlessly.
- Enable secure and seamless loan payments.
- Provide clear loan tracking, including balances, due dates, and interest rates.
- Offer financial planning tools to help users make informed decisions.
- Enhance user engagement through notifications and support features.
User Research
We conducted user interviews and surveys to understand customer pain points and expectations. Key findings included:
- Users wanted a clear and concise dashboard displaying loan details.
- Automated payment reminders were crucial to avoid missed payments.
- Many users desired a flexible payment system allowing early or partial payments.
- Security and data privacy were top concerns.
Competitive Analysis
We analyzed similar financial apps to identify industry best practices. Key takeaways included:
- Simplified user flows enhance engagement.
- Personalization and financial insights improve decision-making.
- Multi-factor authentication ensures security.
Design Process
Discover
The needs of the users
Define
Achievable goals and objectives
Deploy
Simple usable solutions
Support
Development team in execution
User Personas
To better understand our target audience, we created the following user personas:
1. Emily Thompson – The Young Professional
Age: 29
Occupation: Marketing Manager
Pain Points: Struggles to keep track of student loan payments, prefers automated reminders.
Goals: Wants a simple, automated system to manage multiple loans and optimize payments.
2. James Rodriguez – The Family Provider
Age: 42
Occupation: Small Business Owner
Pain Points: Juggles multiple financial commitments, needs flexibility in payments.
Goals: Wants a clear loan overview, ability to make extra payments when possible.
3. Sarah Lee – The Retiree
Age: 65
Occupation: Retired
Pain Points: Prefers a straightforward interface with strong security features.
Goals: Wants to ensure timely payments and avoid unnecessary fees.
Conclusion
The John Hancock Loan Management App successfully addressed customer pain points by providing an intuitive, secure, and feature-rich solution. Through user-centered design, we enhanced loan management, improved financial wellness, and increased customer trust.
