Currently, when trying to get a home loan in Thailand, Thai people have to research potential banks one by one to gather information. This makes it difficult to quickly compare loan rates amongst banks. Kubaan addresses this issue by serving as a platform that matches home owners to banks based on the homeowner’s loan needs.
My main contribution was in both design and development. I designed the user interface, which included the information architecture, task flow, and visual design of Kubaan's website, home owner application form, and bank dashboard. I then turned these designs into reality through front-end development. To ensure that my designs fit well with users, qualitative research ensued.
1. Home owners do not have enough resources to find the best financial products.
They need to travel to request the mortgage loan from each bank in person. Moreover, they have to fill in the same information repeatedly with different banks. This process can take up to months before they can find the right one.
2. Loan agencies, do not have enough resources to find and serve customers.
This has caused them to lose potential customers.
3. The existing process of home mortgage is highly inefficient.
Home owners need to repeat the same process again manually, for all the banks they are considering getting a loan from.
We offer innovative one-stop solution for home mortgage to, to save time and make matter matches between loan agencies and home owners.
We interviewed with 5 different major banks and several investors in Thailand, asking what do they evaluate before approving each loan. Based on that, we created features in Kubaan to categorize the information they need.
Here is the high-level information architecture of KuBann's application. We have three main components including
I decided to start this project by design and implement the website first because it will be the main point of contact for both homeowners and banks. The first step of website design is to thoroughly understand the purpose of the website and how it can help incorporate meaningful content to the customers. Here are the major goals of Kubaan's website.
I conducted the user testing with 7 participants (4 home owners and 3 bankers) using card sorting and dendograms to have a better understanding of information and contents hierarchy for KuBaan's website. So, this website can be more intuitive, user-friendly, and best serve customers.
I designed Kubaan's webpage to be a single page application (SPA). Based on the data from user research, the information of the website should be categorized into 5 main categories which included features, process, about us, plans, and contact us. Then, I organized the categories in to sequential order of what, how, and why can KuBaan help home owners.
For the complex application like a mortgage platform that requires numerous information from users, we have to carefully design and organize the features and behavior flow that are intuitive and be able to provide the sense of trustworthy to gain users' trust. Based on the brainstorming session and the data from the major banks, here are the lists of requirement features for homeowners applications.
We discussed with 5 different major banks in Thailand to find out what do they evaluate when considering giving a loan. Based on that, we sorted and categorized all the required and useful information into borrower’s application. From the conversation we had, we found out that if they provide additional information, such as salary slips, real estate purchase, and sale agreement, the amount of loan they can get will increase by up to 30%. Thus, in order to help home owners get more loans, we will let them know that they are encouraged, but not obligated to provide the information listed above.
The purpose of bank-side application is to provide information and tools for supporting decision making of mortgage approval consideration. I would like to make it as simple and reliable as much as possible. The application is not complex, but we have to make sure that the information is correct and consistent across the platform. Moreover, the platform has to be easy for bankers to download, analyze, and enter the information.
After banks receive the home owner information, they will have 48 hours to make a mortgage approval decision. Then, the mortgage information including loan amount, interest, MML and APL rates will send back to homeowners. If a home owner satisfies with the rate and choose to accept a loan from a specific bank, KuBaan will start the match maker process and connect the home owner with the chosen bank.
Based on the interview Information with Thai major banks, we knew that bankers would like to download a bulk dataset of all home owners applications and analyze those dataset with their models before finalize the approval decisions. So, the service they need is the platform to keep track of the applications status, and input forms for submitting their decisions.