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Revitalizing PenFed's
Personal Loan Experience
Redesigning outdated personal loan pages to streamline consumer’s access to financial solutions and empower members to improve their quality of life.
Project Overview
PenFed's old personal loan experience was outdated, difficult to navigate, and failed to address the core concerns of potential borrowers. As the Lead Designer, my primary goal was to redesign the UX and UI to create a streamlined, informative, and engaging platform that would drive increased loan acquisition from both new and existing members.
Optimizing User Needs
Debt consolidation, credit card consolidation, and home improvement loans represent the top three in-demand loan needs for Americans. We prioritized quick access to these key loan offerings through a dedicated overview page, while also featuring an ‘Additional Uses’ category to address emerging loan needs.
Overview Page
Debt Consolidation
Credit Card Consolidation
Home Improvement Loan
Additional Loans Page
Our competitive analysis revealed a growing demand for non-traditional loans, driven by medical advancements, rising costs, and changing consumer behaviors. While these loans only represent about 20% of the market, we created a dedicated page to provide crucial support and information during financially challenging times.
New Modern Loan Categories
I played a key role in introducing new loan categories for rising consumer needs like IVF, family planning, medical and cosmetic personal loan options. Providing people with the opportunity to access costly financial endeavors without the burden.
Additional Loan Categories
User Feedback
Beyond just the loan itself, users desperately needed clarity and trust. Survey respondents found existing loan information vague and overwhelming. I worked closely with product and copywriting to focus on providing clear, accessible answers to their top concerns.
“I’m not just looking for a loan. I’m trying to understand what the loan parameters are so I know how to make the right choice.” - survey participant
A Visual Path to Loan Repayment
To alleviate repayment anxieties, I designed a clear, visual journey to simplify the loan process. This step-by-step guide empowers users to confidently understand how a PenFed personal loan can help them achieve their financial goals.
Impact and Outcomes
The redesign significantly enhanced PenFed's personal loan experience, prioritizing data-driven info to address user pain points and drive a substantial increase in loan applications from both new and existing members.
Quantifiable Results:
