Case Study

LendEdge

How a team of two UX Designers took a floundering SAS and turned it into a huge money-maker

Direct Capital (a division of CIT Bank) is a B2B lending company that provides equipment, new location, and franchise financing to small businesses and franchise corporations. 

LendEdge is the name of Direct Capital’s lending software, allowing business owners and franchisees to apply. 

Role:
UI/UX Designer
Project Lead
Design direction
J. Zack Pike
LendEdge Financing application
Screenshot of Direct Capital website from 2012
1

Business problem

LendEdge was not doing well.
  • The average bounce rate was 64.85%*
  • Potential customers spent less than two minutes on the site. 
  • Submission and form completion rates were holding steady, but the site was outdated and badly needed an overhaul.

Design Process

  • We conducted usability testing on the current site
  • Created workflows to document the structure of the site and determine the customer journey
  • Conducted a Process Analysis to determine pain points and barriers in application funding
2
Direct Capital's Estimate Summary page
LendEdge Dashboard
3

Adding features

Through our extensive analysis, we were able to add new features to streamline the process:

  • “Quick Estimate” feature 
  • Dashboard – allowing users to get a high-level overview of application status, recently submitted apps, and transaction history.
  • Franchise User Portal – meeting specific needs of franchisees
  • DocuSign functionality – enabling approved customers to sign documents and submit them online.
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Results

0%

Decline in bounce rate

0%

Increased form submissions

0%

Increased funding volume

Shortly after launch, CIT Bank purchased Direct Capital citing Direct Capital's "technology-focus" in their press release.