SEPT 2017
Morganizer
Context:
Buying a housing mortgage in NYC could be difficult; taking as long as 3 to 4 months and a complex set of procedure involving numerous documents with multiple decision-makers. We wanted to redefine this anxiety-filled process into an easy and memorable experience for the mortgage broker and buyer using a 4-week design sprint.
Collaborators:
Abhishek, Jennifer, Cristina, Tanvi
Problem:
The buyers face anxiety and confusion while trying to communicate and exchange important documents with the mortgage broker. The broker deals with a large number of users across multiple communication channels and keeps track of large amounts of buyer data. Multiple channels of communication, difficulty in tracking individual buyer journey, organizing buyer data were identified as the problem areas for the broker and buyer.
Solution:
Morganizer is a platform that helps mortgage brokers to streamline their process by enabling visibility of individual client’s progress, organizing all the client information and documents in one place and facilitating as a single channel for communication between the buyer and the broker.
Understanding the mortgage process in NYC:
We conducted extensive research to understand the mortgage industry and its key stakeholders. We used various qualitative and quantitative research methods to understand the mortgage industry, which included posing as mortgage buyers and approaching stakeholders, conducting in-depth user interviews, shadowing mortgage buyers in the buying process, social listening in housing mortgage forums etc. We mapped our user’s mortgage stories to get an overview of the entire process.
Finding friction areas
Mortgage brokers
They face a major challenge handling numerous client communication across multiple channels (emails, phone calls, text etc) with numerous clients
Organizing large amounts of client data and confidential documents in a secure place was a challenge for easy reference is difficult. Quite often there are various versions of same documents and they get misplaced in the process.
Mortgage buyer
For the customer, this is a big life decision and comes bundled with anxiety and stress about their progress.
Decisions are taken with consulting partners, family members and friends, keeping them updated is a major task
Back and forth communication between mortgage broker, family, friends and other stakeholders is a major hurdle.
Intervention
Morganizer, a platform that helps mortgage brokers track individual buyer journey, organize client documents, communicate effectively with multiple clients, all from a single platform!
Morganizer helps mortgage buyers to track their buying progress, have a single communication channel for all stakeholders (family, friends, lawyers, real estate brokers etc), keep track of the documentation process to reduce anxiety and stress!
