Background

PROBLEM STATEMENT

The credit bureau (CB) would like to enhance a web based interface that facilitates the following tasks for a lender at an open house:  

• Access a CB interface to order a credit report for borrowers 
• Collect borrower information and authorization to order report 
• Go paperless!

Approach

DESK RESEARCH

As the UX Designer, I started off understanding the business scenario by reading up about Credit Bureaus, Loan Origination Softwares, ways to collect authorization forms online and security restrictions. This gave me the context to better understand the problem. 

ABOUT THE USER

Motivations for Lender

• No need to carry paper authorizations for multiple prospects
• Qualify applicant instantly by immediate access to credit score
• Spend time with clients at open house as opposed filling collecting applicant info

Motivations for Home Loan applicant

• Get APR information directly from lender at the open house
• Curious to see if the lender offers competitive rates without spending too much time

WORKFLOW

After some sketches and brainstorming, I arrived on a workflow that summarizes the userexperience when ordering a credit report in the open house. 

Mockup of Authorization Screen

User Interface

Thinking out of the box

SCANNING DRIvers License

An alternate workflow that could save more time. 

1. Applicant meets lender at open house and is curious about mortgage rates. 
2. Lender is interested in working with applicant and leads prospect to where his locked device is stationed. 
3. Lender request applicant for drivers license to order credit report.
4. On the CB website, the lender visits the order report page. 
5. Lender snaps a picture of the Drivers License. 
6. CB system scans ID and pre-populates 'Fill applicant info' with First name, Last Name, DOB and address. 
7. Applicant can choose to add other information and provide SSN.
8. In the next step, an authorization screen is presented for the applicant to review. 
9. After approval, CB system submits DL, order form and authorization. Credit report is generated. 
10. Details presented in the credit report facilitate further discussions on rates. 

Note: If a photo capture of the DL meets regulatory requirements, then the authorization form (step 8) can be skipped. 

This workflow can save time by removing the need to enter information and verify identity of the user simultaneously.