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Introducing Wonder
Owning a home is for many Australians "The dream" but bank processes can sometimes make what can be a very emotional time even more difficult.
Westpac Wonder was to change the way the bank informed and engaged with customers about both their borrowing and purchasing options in real-time.
PRODUCT
Westpac
ROLE
Senior product designer
Contributions
Research, User testing, Wireframes, Prototyping, Interface & Interaction design, Design language
DATE
October 2015
The product
Wonder is an accurate, real time credit mechanism that no other bank in the world offered at that time. It provided a continuously updated affordability figure that translates to an actual lending amount, based on data that customers have provided to us through their relationship with the bank. This radically changes the application process for a customer, throughout their entire home ownership journey. Rather than starting from scratch with each loan, customers can simply check the information and make updates if necessary.
Problems
Problem 1: The process for applying for a home loan was the same for all customers, whether they were new to the bank or long standing customers:
Step 1:
Fill out a paper form, which required lots of information that the bank already possessed.
→
Step 2:
Submit this form to a banker in branch, coupled with supporting documentation such as proof of identity and assets.
→
Step 3:
Wait for a credit decision to be made, with fingers crossed that they received the outcome they wanted.
This took 25 days on average leading to customers losing confidence. These delays also had negative effects on the sellers who
Approach
Aligned with stakeholders across Westpac to refine product scope and feasibility
Mapped journeys for three archetypes first-time buyers, renovators, and investors
Conducted user research to uncover pain points in the property journey
Created end to end flows for new home loans portion of Wonder.
Tested prototypes I designed with customers, iteratively on an almost weekly basis.
Worked with internals teams to ensure components were compliant for the GEL (global experience language)
Closely supported development team throughout delivery phase
Goals
Competitive differentiation: Build a property platform that gave Westpac an edge over rival banks, by positioning clarity and transparency as part of the value proposition.
Operational efficiency: Reduce branch staff time wasted on unqualified loan applicants.
Customer experience: Prevent negative experiences by helping people understand borrowing capacity upfront.
SOLUTION
Built on the principles of knowing the customer to empower them.
We wanted to enhance the journey, not sell it.
Granular filters for complex workflows
The ‘More Filters’ section provides enhanced granularity, allowing users to tailor their experience with additional attributes that align with specific workflows. To maintain simplicity for common use cases, options are dynamically displayed as users interact, reducing cognitive load while ensuring control when needed.
Classic + New Datasets
We carefully mapped the data, aiming to combine the two datasets into a unified view. However, implementation within the project’s timeframes proved technically unfeasible. Instead, we organised the data into two tabs, allowing users to switch seamlessly between them—an effective solution given the constraints.
Fast Follows: Enhancing Actions and Workflow Efficiency
Upon release, we closely monitored feedback and delivered updates that enabled users to:
Perform bulk actions like sending or renewing multiple proposals.
Access contextual actions directly within pipeline for efficiency.
Key Results
Pipeline tackled real user pain points with practical solutions, helping users work smarter and more efficiently. By listening to feedback and iterating along the way, we built something that had impact to both users and the business.
Here’s what it achieved:
Volume of accepted proposals
Improved user experience for managing proposals drove higher engagement, resulting in a 67% increase in accepted proposals—from 600,000 to 1 million in one year—and generating $1.3 billion in additional customer revenue.
Accepted proposals
Operational Efficiency
NPE/Proposal visibility related support requests dropped from 30% to just 5% allowing KAMs to prioritise on higher-impact work.
User Engagement
Achieved 47% daily active users (DAU), surpassing our 25% target, with ~80% of subscribed practices actively using the platform.
Daily active users
Outcomes
"Top ups" average days to receive funds down from 25 days to 3days, with many happening within 24hours.
17,000 onboarding completions to Wonder within 6 months
226 new loans created through the service
700 warm leads from customers who requested a call-back while they were completing the form.
We were not only the first bank in Australia but the word!
2016 - Retail Banking
Innovative
Mortgage
Product
WINNER
2016