Loan Revamp (v2) Usability Test Report

Objective

This report outlines the team’s findings from the usability testing conducted on Loan Revamp Designs. The purpose of the testing was to assess our comprehension of the contents, preference, and identify usability issues.

Methodology

Method: We employed the use of moderated and with the use of Useberry for our unmoderated test. Click HERE and HERE for links to our unmoderated test questions on Useberry.
Participants: 35 participants were recruited for the usability testing for both our moderated and unmoderated tests.
Tasks: Participants were given a series of tasks to complete within the Loan Revamp design.
Observations: Observations were made on participants' interactions, and feedback during the testing sessions.
Data Collection: Data was collected through video recordings, and test Snapshot. Click HERE to view links to all test snapshots.

Tasks

Unmoderated Test Result Option A

Task 1: Facility Icon: If you were a business owner looking to apply for financing, which menu icon would you click to apply for funds?

11 out of 23 participants successfully completed the task.

Task took an average of 5m 55.5s to complete.

Common issue(s):

Most users couldn’t differentiate between the Financing icon and the Cards icon.

CLICK HERE TO SEE RAW DATA

Unmoderated Test Result Option B

Task 1: Menu Icon: If you wanted to apply for funds, which menu icons would you click to begin the process?

13 out of 34 participants successfully completed the task.

Task took an average of 1m 29.5s to complete.

Common issue(s):

Most users couldn’t find the icon.

CLICK HERE TO SEE RAW DATA

Recommendations

Based on the feedback and findings, these are the following recommendations for improving Loan revamp Design.

Add joyride to inform new and existing users about the name change from "loan" to "financing” on their Moniepoint Dashboard.
Content and copy should emphasize the monthly repayment option.
Change the placement of “Request to Adjust This Offer”.
Introduce a timer (10 seconds) delay before the user proceeds from “Weekly Sales Volume’.
Next repayment card should emphasize the repayment frequency (Monthly or weekly beside the timer)
Show three (3) due dates and amounts due then prompt users to view the complete repayment schedule to differentiate the repayment schedule from the 'Make repayment' button.
Modify the financing product description and benefits of each financing product.
Most participants who chose option A understood the "Maintain your weekly sales volume" message better than those who chose option B.
Change the copy icon to text and when copying the guarantor link, users should be shown “Copied”(feedback)
Users preferred running the facility dashboard option with the next repayment at the top (Option A) however they requested that the disbursed amount and pending repayment amount be bold/highlighted. -
Editing residential address should be optional for users who have the same address as the one provided during onboarding (On the stepper, there should be a button that says if your address has not changed, proceed further)
Make the loan amount on the Guarantor’s form more obvious (Bold) to help users avoid missing the information.
Guarantors would like to see the repayment schedule of the borrower.
Change financing tenor to “How long will you need the funds?
Business owners were able to find their guarantor's information at the bottom of the running facility dashboard. Let’s stick with the option that allows
Add FAQ section on financing product page
Add info icon insurance similar to the management fee.

OTHERS

Include the ability for users to revise their residential or business and guarantor information based on the FVO’s prompt.
When users choose bank transfer, show a bottom sheet containing all the user’s account number and enable users to copy their preferred account number (Yinka and Sansa)
Add the “Next repayment” widget to the main dashboard
On running the facility dashboard, show users who copied their account number if they would like to proceed/ complete repayment.

Conclusion

The usability testing provided valuable insights into the user experience of Loan Revamp Design. By addressing these identified issues and implementing the recommendations, we can enhance usability and overall satisfaction.

Design team