Enhancing user experience in peer-to-peer investment on the KoinWorks application.
Open the prototype
An online platform that helps people at every level of society reach their financial goals.
KoinWorks is experienced in fintech, with solutions and easy access for various financial needs in one application. It supports the government’s mission of financial inclusion for Indonesian society.
Become the partner of choice in unlocking the potential of the MSME segment that has not been reached by banks in Indonesia.
Enable access to affordable financial solutions and business health for Indonesia’s disadvantaged Micro, Small and Medium Enterprises (MSMEs), while contributing to stronger prosperity for individual investors.
Share of respondents using each P2P platform. Katadata Insight Center (KIC) survey.
34.1% of respondents admitted to using KoinWorks for P2P lending investments, so the experience of this one flow reaches a lot of people.
Users left many bad reviews, and they all began with investing: missing borrower information, a poor UX flow, fact sheets that are hard to find and important information that is hard to reach. That made developing the app necessary.
What gets in the way when someone invests in a P2P product?
The goal was to identify the problems and difficulties users face when investing in a peer-to-peer product.
Payment is only possible by bank transfer or virtual account. There is not enough information about the borrower’s grade score. I’m confused about which investment to choose because there is no borrower information and no history, and the investment products on offer aren’t clear.
Pain points from the group discussion, translated from Indonesian.
Users feel the platform lacks enough credibility.
Less interested in investing because there are no experience stories from other investors.
Difficulty navigating information about P2P product types.
Difficulty navigating because certain UI elements are missing.
Still confused about the steps and process of P2P investing.
Want an easy way to get detailed borrower information as investors.
Want the borrower’s track record as a benchmark.
Want more varied payment options.
Five users each tried five tasks on the existing app. The first two were easy. Tasks 4 and 5 were where most people got stuck.
Each finding became a “How might we” question and a set of solutions.
Users feel the platform lacks credibility and see no experience stories from other investors.
Solution
Hard to navigate P2P product types, and some UI elements are missing.
Solution
Users are still confused about the steps of P2P investing.
Solution
Investors want detailed borrower information and a track record to measure against.
Solution
Users want more varied payment options than bank transfer and virtual account.
Solution
The solutions were placed by impact and effort to decide what to design first.
Four screens, each rebuilt around what investors told us.
The full redesigned flow, from the landing page to the cart, in Figma.
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