A major bank needed to optimize the end-to-end personal loan pricing experience, including journey sequencing and offer presentation.
The client was facing a downward trend in personal loan volumes, alongside wider market and regulatory/compliance pressures.
The bank needed to optimize its communication strategy for personal loans, with a particular focus on how offer and price information was presented along the customer journey, so that drop-off rates and application volume could be improved.
Turning offer and price presentation into application growth
We used customer research and quick tests to turn communication hypotheses into practical recommendations across the loan journey.
Working alongside the client, we focused on:
- Using two research types to collect customer insights and test a defined list of hypotheses.
- Running quick tests to simulate purchase and decision situations.
- Checking whether best-practice offer and price communication approaches were applicable to the local market.
- Deriving price communication principles to guide messaging and offer presentation along the customer journey.
- Developing a best-in-class target process for optimised price communication, supported by specific screen-level recommendations for each process step.
- Creating actionable insights for live testing across the bank's channels.
The work gave the client a clearer, evidence-based way of presenting personal loan offers and pricing. It translated customer insight and testing into practical recommendations that could be applied along the customer journey and tested across the bank's channels.
Increasing approved applications through clearer offer and price communication
Identified an 18% uplift in approved applications
The engagement identified a 18% uplift in approved applications and multi-million dollar expected annual loan volume increase.
The client received concrete recommendations for a best-in-class customer journey, including specific and detailed screens for each process step. These recommendations created actionable insights for live testing across the bank's channels, helping move from initial hypotheses to testable improvements in customer communication.
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