Financial
Awareness
Elevating engagement by 45%.
Generating 700+ mortgage advisory inquiries.
Pioneering Financial
Clarity in Real Estate
Intro
I worked in the cross-functional Financing Context Team at allmyhomes, a platform specializing in real estate for new development projects.
We focused on boosting customer awareness regarding mortgage financing options and improving financial literacy & awareness among prospective buyers.
My role
My responsibilities: Understanding user needs and requirements, ideating and designing solutions, and ensuring user-friendly tools. I engaged in collaborative efforts across teams, involving users, developers, designers, product managers, stakeholders, and financial advisors.
Uncovering the Veil
of Financial Uncertainty
Discover
To better understand the landscape, I conducted 6 interviews about the financing process, 5 on financing tools and content, and 2 with financial advisors about process and requirements.
Interviews revealed that while 50% of prospective buyers were financially prepared, the rest lacked awareness until later in the process, leading to a high rate of loan rejections and reservation cancellations.
Insights
Financial Awareness Gap
People lack financial knowledge and awareness leaving buyers confused.
Buyers are unaware of their budget at the start of their property search.
40
%
of buyers prefer tech tools for finding affordable properties.
Trust
Users don't trust data privacy and fear pushy sales tactics, so they hesitate to share data for personalized financing.
Transparency
Confusion regarding the total costs involved in property purchasing, including down payments, interest rates, and additional fees.
I conducted user research through six interviews to deeply understand the financing journey. In July 2021, the interviews were held via Zoom, lasting 45 to 70 minutes each. The respondents, aged 24 to 48, had all recently purchased and financed real estate in Germany.
The interviewees included three female first-time buyers and three experienced male buyers. The findings emphasized the need for transparent, supportive financing advisory services, highlighting key insights across different buyer journey phases.
The financing research aimed to identify:
Content and Format: What kind of financing information and format best increases prospect confidence and clarity.
Communication Channels: The best communication channels for delivering this content.
Timing: The optimal time/phase in the user journey to present this content.
The research involved remote interviews with participants to understand user preferences in financing, challenges in navigating the process, and the best tools to use.
The financing research aimed to identify:
Content and Format: What kind of financing information and format best increases prospect confidence and clarity.
Communication Channels: The best communication channels for delivering this content.
Timing: The optimal time/phase in the user journey to present this content.
The research involved remote interviews with participants to understand user preferences in financing, challenges in navigating the process, and the best tools to use.
Recommendations
Realizing the Vision
of Financial Clarity
Design & Deliver
At the heart of my solution was the integration of financial advisory services into the allmyhomes platform. By refining our financial calculators and ensuring seamless access to consultations, we aspired to redefine user engagement and satisfaction.
Charting the Impact
of Empowerment
Outcomes
The step-by-step implementation of the financial tools, aimed at improving financial literacy among prospective buyers, has produced measurable improvements in user engagement and decision-making, demonstrating the practical benefits of our financial advisory services.
Inquiries for financing consultations.
Insights
Qualitative interviews with buyers offered insights that guided our design decisions.
Financial Awareness Gap
Increased use of the budget calculator and a rise in financing consultations.
CVR from financing consultations inquiry to financing.
Increase in user engagement with the introduction of financial tools.
Business
Over 60 external financing partners integrated into the automated lead chain for consultations.
Reflecting on
the Path Forward
Next Steps
Future iterations will focus on refining the financial calculators and exploring new features such as property recommendations based on user financial input.
Learnings
Key learnings from this project include the importance of building user trust regarding data privacy and providing transparent, valuable financial insights.
Head of Product, allmyhomes (2023)