Case study for Belfius
How can we create a tool in which aspiring homeowners can simulate and arrange a mortgage online? It should be easy in use and users should feel supported.
This was the question that Belfius gave me for the application process.
This is a fictional project. To access the Figma file click here.
Research
2 interviews - 3 people
I was able to define a few pain points that I could categorise in the given design principles: Support, Simplicity and Progress.
Process
Because applying for a mortgage is a lengthy process I decided to be transparent about the steps that need to be taken. I've split the whole process into two separate flows.
The Simulation
Before starting the process a user will see a summary of the steps they need to take and some information as to why these steps are needed.
Submitting documentation
Before the start of this process users will get a list of the documentation. Though they get enough time during the process itself, giving them a heads up can prevent stress.
Support
It's normal to have a lot of questions when users apply for a mortgage for the first time. Making sure the questions are answered when they arise is important to recreate the feeling of support. Looking at other insurance companies gave me the insight that a human feeling was pivotal to success.
I integrated a chatbot with the name Ben. It'll help you with finding the right answer to your question.
Ben also gives more information on what a specific choice can mean for your simulation.
Since it's such a lengthy process I decided that the larger categories could be divided into smaller ones. For every theme I've created a subtheme. This allows the user to clearly track how many other subthemes there are within a bigger theme.
Another thing I added is a number in percentage. This way users have a clear view on how far they are in the process. Making it easier for them to manage their time.
Simplicity
One of the pain points was that calculations were complex. The interview participants didn't know where some of the calculations came from.
To combat this I created a screen that shows up after every theme with a breakdown . This gives more clarification into why certain questions were asked and makes the tool more transparent for users.
Another added feature within simplicity is the option to compare different simulations.
Users can change their simulation and add them to their 'compare basket'. Here they can see what 5 years extra means for their mortgage. Or how a higher starting capital can change their mortgage.
Users can now easily compare and make sure the mortgage they take is tailored to their needs.
Bonus: Support
While interviewing one of the participants told me that when the time came to choose a mortgage, they didn't choose the best deal. Instead they went for the banker that supported them in their financial journey. One of the things the banker did was explaining how their taxes would change. He also mentioned other tips for doing taxes.
This level of support was something I wanted to recreate. When the user submits their mortgage for approval they have to wait. During the wait I added some dynamic tips. Because they already submitted a lot of details of the project, we know what subsidy conditions they meet. When they see something interesting they will be referred to the correct government page.
By giving them these tips the user feels supported in their decision.
