QuickBooks
Line of Credit Acceptance Flow
Context
QuickBooks Line of Credit offers small businesses flexible funding through either cash draws or invoice advances. The team noticed customers were dropping off after the first screen when drawing cash. As the design lead, I conducted user testing to identify the the cause and find a solution that would help customers get the the business funding they need.
Objective
Simplify the Line of Credit acceptance flow experience to reduce drop-off between steps and inform customers of necessary information upfront.
Business impact
This experiment resulted in 102 ITC in the 2 weeks after launch, with a noticeable increase in draws from NTTF customers. Given the success of the experiment, it recently launched to 100% and is now the standard acceptance flow.
Customer value
Instead of being a multi-screen flow, the experience is now consolidated to one screen
The experience is responsive to the numbers entered
The interest rate is contextualized to help put the overall cost into perspective to help give customers the confidence they need to draw the appropriate amount of cash or take an invoice advance.
The new design also helps future proof it for when customers can select other monthly plans.
Detailed walkthrough upon request
Zero state
Customer enters cash draw flow
ACTIVE STATE
Draw amount is entered, loan terms and repayment details are auto-populated, legal disclosures are reviewed and consent is provided.
cash draw confirmed