Role: Lead Product Designer (UX, UI, Research)
Timeline: 6 weeks
Team: PM, Engineers, Data Analyst, UX Writer
The loan tile is the primary decision surface within the loan marketplace. It is where users compare lenders, evaluate APRs and fees, review total cost breakdowns, and decide whether to proceed with an offer.
Prior to the redesign, the team ran multiple incremental experiments, including adding lender reviews and descriptions, customer testimonials, funding-time badges, and alternative CTA copy, to improve conversion. Despite these efforts, the desktop loan selection rate remained flat at approximately 22%, indicating that surface-level optimizations were not addressing the underlying user friction.
As a result, we identified the need for a more fundamental redesign of the loan tile, focused on restructuring content, reducing cognitive load, and surfacing key cost drivers. To improve decision efficiency and drive a meaningful lift in loan selection and conversion.
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Selection rate for desktop: 26%
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Selection rate for mobile: 32%
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Based on early analytics, support tickets, initial user observation and past research, we formed the following hypotheses about why users struggled to compare and choose loan offers: