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INTRODUCTION
As Krab aimed to tackle challenges in India's trucking industry I spearheaded the design of a seamless lending experience for India's trucking industry. Our interfaces and guidelines secured Krab's YC-W21 funding by simplifying loan applications and revolutionizing trucking businesses' financial operations.
MY ROLE
Designing the lending
experience for trucking startups.
THE TEAM
Solo Designer, collaborating with Yogesh the cofounder and Mahesh who leads a dev team of 10+
TIMELINE
May 2020 - Sept 2020
SNEAK PEEK
PROBLEM
We noted that small trucking startups face challenges in managing truck tracking, trip management, and cashflow, leading to difficulties in financing their trips. They struggle to hire trucks due to delayed payments, causing anxiety and constant worry about securing funds for their next trip.
MY ROLE
How might we design a trucker-friendly and stress-free loan system to facilitate easy access and financing for small trucking startups?
RESEARCH
User research: Understanding the challenges
We spoke to a few trucking startups to identify the why’s, how’s and what’s. Which was insightful and helped us take key decisions for our experiences
💸
No cashflow
Frequent payment delays make funding the next trip impossible
🙇
Lack Credibility
Banks refuse to lend money because they see high risk transactions
😓
Low Approval
The rate of approval for the loans tend to be very low considering the credibility
⏳
Time Consuming
This whole process is very time consuming hence, we refrain from approaching banks
CONCEPT 01
Tackling the cashflow issue: The need for quick cash
The payment schedules take 30 days or longer on freight invoices
Unable to meet the cash requirements for the next trip
What if we provided trip based micro loans?
How do we get the trip info?
DESIGN DECISION 01
Obtaining trip info: One time affair
We Incorporated 3 essential tasks into the onboarding process to ensured a hassle-free experience
The user could do these 3 tasks in any order they wish.
Verify their business
Link their bank account
Link their e-waybill
But, we hit a few bumps along the way
🥱
Users dropped like hot potatoes halfway through due to lengthy onboarding
🪂
Users felt like castaways with a gap between onboarding and the actual app experience.
🙅
Overzealous onboarding requests left users scratching their heads, asking, "Why spill the beans?"
Solution
SOLUTION
Moved key actions from
onboarding to home
Building assurance
This lightened the onboarding load and fostered a connection within the app
Linking bank accounts and GST numbers revealed a base credit score, ensuring eligibility and fostering trust
DESIGN DECISION 02
Trip offers: Information Prioritization
I started putting together the the trip information from E-way bills to show a minimum loan amount offer.
The intention is to provide multiple micro loan offers for each trip.
Information prioritization can be tricky
FINAL SOLUTION
Clear offer count sets user expectations, aiding quick navigation
Brief offer overview empowers users to select preferred interest terms and banks/sources
Card click expands, allowing users to customize period and instantly view interest
LEARNINGS
🧩
Don’t deviate from familiar patterns
Use familiar interaction patterns (offers + CTA) that matches users’ mental models
🎯
Focus on the core user job
Reduce cognitive overload by dividing how the user processes information. (Expand offers)
📞
Checkin with actual users. Always!
Seek feedback from users when in dilemma (Information prioritisation)
Thanks for making it till the end ^.^
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