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Redesigning a Lending Platform to Cut Drop-Off by 60%

5 April 2025·CodeSwift Team·7 min read
Redesigning a Lending Platform to Cut Drop-Off by 60%

Overview

Lendify, a digital lending startup, was experiencing a troubling trend: 73% of users who started a loan application abandoned it before completion. Their onboarding funnel was leaking potential customers at every step.

They engaged CodeSwift to conduct a comprehensive UX audit and redesign their entire application flow, with the goal of significantly reducing drop-off rates while maintaining regulatory compliance.

The Challenge

The existing application required users to complete 47 form fields across 8 separate screens. Legal and compliance requirements meant certain information was mandatory, but the presentation was overwhelming and confusing.

User research revealed that applicants felt lost in the process, didn't understand why certain information was needed, and often abandoned applications when asked for documents they didn't have readily available.

Our Solution

We conducted extensive user research including interviews, session recordings, and usability testing. Based on insights, we redesigned the flow around three principles: progressive disclosure, contextual help, and save-and-resume capability.

The new design consolidated fields into logical groups, added inline explanations for sensitive questions, and implemented a document upload flow that let users continue without all documents immediately available. A progress indicator showed exactly where users were in the process.

Implementation

We delivered a comprehensive design system in Figma, including component libraries, interaction specifications, and detailed annotations for the development team. Interactive prototypes were tested with real users before handoff.

The redesign was implemented in phases, allowing A/B testing between old and new flows. Each phase showed measurable improvement, validating our design decisions with real data.

Results

Application drop-off decreased by 60% within the first month of full deployment. The average time to complete an application dropped from 23 minutes to 11 minutes.

User satisfaction scores increased from 3.2 to 4.6 out of 5. Loan approval completion rates improved by 45%, directly impacting Lendify's revenue and customer acquisition costs.

Tech Stack

Design: Figma, FigJam for workshops

Prototyping: Figma prototypes, Maze for testing

Research: Hotjar, UserTesting, Dovetail

Design System: Custom component library, design tokens

Documentation: Notion, Storybook

Work with one of the biggest cloud and DevOps teams in Pakistan and USA.

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