Your Credit

Jun, 2016- Mar, 2017

A Work Project in Your Credit

From May 2016 to Mar 2017 , I have worked as a Product Manager at Your Credit. But due to NDA, I will only show limited information.

A BIG GAP IN CONSUMER FINANCE MARKET

In2015, some 800 million Chinese constitute the potential consumer finance market. Of them, about 500 million do not have any credit information in traditional banking organisations. It is very difficult for traditional banks to offer small loans to consumers without any credit record. The cost and risk would be very high compared with offering loans to big-name enterprises.

This means, it is difficult for a large proportion of people to apply for credit cards or borrow money from traditional banks.

OPPORTUNITIES FOR INTERNET FIRMS

But through big data technology, it is easy for Internet firms to find out who can be good debtors, by analysing their online footprints, such as their shopping records, occupation and educational background of their friends on social networking apps.

Our company, Your Credit, has offered loans to buyers of used cars and consumer electronics for years since 2014. It helped us gain a solid data of target users.

We are not stopping there…

However, as purchasing cars or electronics were more likely to be a one-off behaviour, we didn’t do a good job in retaining those users with good repay records. So we decided to expand our credit services in more consumption scenario with higher customer stickiness.

Thus, on 20 Jun, 2016, we launched an app offering a e-commerce market and credit cards service to all the online shoppers.

My Role

As a Product Manager, I participated in driving the Your Credit App from draft to launching. It included 8 big iterations and 16 small iterations in 10 months.

I led the design of the bills, repayment, refund, adjusting the limit of credit card, coupons experience between May 2016 to Feb 2017 and collaborated with another Product Manager on the Home Screen, shop and payment features.

I also worked with a senior Product Manager on designing finance products, including designing fees and rates, repayment methods and backend systems.

In addition, I worked alongside Risk Management Team on improving the repay rate.

The Challenge

Our challenge was to provide a credit card service for people who are not allowed to apply for credit cards or borrow money from traditional banks.

Specifically, the challenge of this project was to launch a new app offering a e-commerce market and credit cards service to all the online shoppers.

The Approach

Agile — To be Cheap: In favour of speed to market, we were tasked to design and build the App in Agile methodology — started from MVP, and then tested and learned from the process.

Timeboxing- To be Fast: Working backwards from a fixed launch date, meant that design was subsumed into an engineering‐driven process. Sign‐off milestones were driven by engineering estimates and time to create the right design was the time left over. The combination of a fixed launch date and aggressive scope created an intense environment with many coordination and time challenges.

Human-Centred Design- To be Good: We followed typical Human-centred design process: research, synthesis, ideation, evaluation and iteration.

The Deliverable

A mobile app in iOS and Android