Broker Portal Enhancement
Company
LendInvest
Role
Product Designer
Shorten the time required to complete a security valuation and save on the costs of traditional physical valuations.
Background
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Broker Portal
LendInvest created the Broker Portal to innovate the mortgage industry, eliminating extensive paper application requirements and simplifying the process through an online platform.
Users can input, submit, monitor, and gain an overview of their cases through this Portal.
Background
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Automated Valuation Model
An AVM allows the valuation of a property (security) using its estimated value based on previous selling price or other properties in the area.
This is completed without the need for a physical valuation.
Responsibilities
It was my responsibility to facilitate and run the research, present back the insights, and design the final screens.
Challenge & opportunity
At LendInvest, the business could perform AVMs. Still, it was a heavily manual process involving performing a Rightmove search in Case Admin Portal, generating the AVM outputs and then manually keying them to Salesforce.
With this project, the business wanted to introduce Broker-initiated AVMs through our Broker Portal for all Bridging applications. Allowing the Broker to decide whether to use the AVM (if applicable) and alter their loan request depending on the AVM result.
It not only improves the customer experience but potentially generates more business and allows Operations to save time by no longer manually processing AVMs.
Process
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Analysing the competition
The project started with an analysis of competitors to discover how they execute AVMs.
These discoveries were then presented back to the stakeholders, along with key takeaways to bring with us into the ideation phase of the project.
Research
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Usability tests
Once a final design for testing had been agreed on, I invited six customers to test our proposal. Three journeys with two different tables were tested. I then analysed the insights and presented the findings back to the stakeholders.
Outcome
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Final screen
The final AVM screen displays a table featuring a toggle for choosing between AVM valuation or the estimated valuation.
Customers can then decide which valuation they prefer and pick the loan amount for further processing.
The option to edit, delete, or add a new property is also accessible. If a new property isn't eligible for an AVM, the AVM toggle will be inactive.
