Lloyds "Bank to the Future" Hack Overall Winner
Interactions 2018 Awards Finalist, IxDA Global
Exhibited at New Desginers, 2016
Product Design Prize, University and Brighton
UX/UI Design, Competitor Research, Slide design and pitching
After the EU legislative changes, Banks in the EU can now, with explicit permission from the user, share customer data to other banking institutions via APIs. Opening up the possibilities new products and experiences. Bank to the future’s challenged us to come up with such experiences.
Lloyds Banking Group (LBG) lend to 1 in 4 first time buyers in the UK, FOOBA is a solution that creates a better experience for new homebuyers and at the same time reduces the risk of lending for LBG.
Getting a mortage is scary for a first time buyer, knowing where to look, what they can afford and going through the legal processes are a daunting task.
A person's income and credit rating cannot accurately show whether or not they can afford a home. It doesn't take into account spending or lifestyle habits. Aggragating open banking data can create a better picture of the home buyer's risk profile.
Many first time buyers find the whole process daunting... How might we make this process a easier?