Island Finance Website

Role

UX Research, Product Design, UX/UI Design

Industry

Finance

Tools

Adobe XD, Whimsical

View Snap Summary

Island Finance has a long history in Puerto Rico, with its roots dating back to 1959. It has distinguished itself by playing a vital role in the economic development of Puerto Rico, successfully establishing itself as a leader in personal loans across the Island. Today, they have 49 branches all around the country.

As a customer-focused personal loan company, Island Finance is committed to understanding and meeting the needs of its customers through digital transformation and innovative solutions. Their mission is to simplify the process of borrowing for a wide range of consumer purposes by taking the hassle out of getting a loan.

In order to maintain their position as a top personal loan company, Island Finance recognized the need to update their website to create a digital product that represents their values and vision and adapted their service to present-day needs.

Our goal with this project was to create a seamless and intuitive website to increase conversion and optimize customers' existing experience based on user research and UX opportunities.

Project Scope

Discover

Define

Ideate

Design

Industry Insights

Personal Loans

As of Q2 2024, 23.9 million Americans owe a total of $246 billion in personal loans, with an average debt of $11,687 per borrower. Most borrowers (51.3%) use personal loans to consolidate debt or refinance credit cards, while 8.1% use them for everyday bills and 7.2% for home improvements.

Traditional banks are projected to dominate this market, expecting a volume of $15.34 billion in 2024, with growth to $19.80 billion by 2029 in Puerto Rico. Banks which have a long-established presence and offer a wide range of financial services, will and currently hold a significant share of the market in Puerto Rico.

There are two significant emerging trends in banking. The first trend is the emphasis on financial inclusion, with banks reaching out to underserved communities and offering tailored products. The second trend being shift toward digital solutions to cater to a tech-savvy population, reflecting a global trend in banking.

Puerto Rico's unique status as a U.S. territory creates both opportunities and challenges for its banking industry. The local economy's ties to the U.S. influence regulations and market dynamics, while factors like trade agreements, federal policies, and recovery from natural disasters play crucial roles in the banking sector's health.

"Customers in Puerto Rico are increasingly leaning towards digital banking solutions, driven by the convenience and efficiency they offer."

"Most borrowers (51.3%) take out a personal loan to consolidate debt or refinance credit cards. The next most popular uses for a personal loan are paying for everyday bills (8.1%) and home improvements (7.2%)."

"Banks which offer a wide range of financial services, will and currently hold a significant share of the market in Puerto Rico."

"The average personal loan debt per borrower is $11,687 as of the second quarter of 2024."

Competitive Audit

Understanding the market

In order to assess the strengths and weaknesses of both direct and indirect competitors in the personal loan sector, I analyzed four websites dedicated to this industry. The goal was to gain insight into the current offerings, identify areas for enhancement, and uncover any gaps or unmet needs within the sector.

User Interviews

Understanding users

In order to comprehend users' experiences within Island Finance, we focused on their interactions and feedback with the business. Here's what they said:

"They should invest to improve the Banking Network Architecture with a good IT team to make it convenient enough for the customer. I genuinely do not recommend this or any other bank that does not have good IT service…"

"I'm still paying a loan that I took out for 2,500, I ended up paying 5,000. The APR is 32.% Something that has to be taken into account, I didn't know because it was my first time. Don't borrow here."

"They do not explain the difference between changing a debit date vs changing the loan payment date, which turns out to be two completely different things. It took 3 calls for someone to satisfactorily guide me."

"Phantom charges, and they want to charge surcharges for cashier errors. The cashier swiped the card for .10 cents less and they want to charge me $10 more for “allegedly” not having paid on time."

Challenges

Problem Statement

The necessity to upgrade Island Finance's banking app became clear after analyzing competitors and gathering user feedback. With an increasing demand for digital services among clients, this enhancement is crucial for the company's future growth.

The current website lacked essential features and made it difficult for users to perform tasks like calculating loan payments, making online payments, and accessing loan information. This led to confusion regarding their financial situations. Additionally, the outdated design reinforced the perception of Island Finance as a traditional and complicated company, which did not align with the company's brand image and value proposition.

Main Concerns

Key User Frustrations

Outdated Website

An outdated website and unreliable IT services raised red flags for clients, signaling a lack of trust and professionalism. These issues directly affect the company's credibility and ability to retain customers in a digital-first world.

Financial Literacy

Low financial literacy can make the personal loan process confusing and overwhelming, leading to missed details or poor decisions. Empowering customers with clear, accessible information builds confidence and encourages more responsible borrowing.

Trust

A lack of trust and transparency can make customers hesitant to apply for a personal loan, fearing hidden fees or unclear terms. This uncertainty slows down the decision-making process and can drive potential borrowers to look elsewhere.

Digital Loan Management

The ability to manage loans digitally gives customers convenience, control, and confidence. Without it, the process feels outdated and frustrating, making it harder to stay on top of payments and reducing overall satisfaction.

Main Concerns

Design Constraints & Considerations

Alongside user frustrations, we encountered internal and contextual limitations that shaped the design direction. These challenges pushed us to make strategic trade-offs while ensuring the final product remained useful, trustworthy, and accessible.

Outdated Infrastructure

The platform's legacy systems limited our ability to integrate advanced digital tools. We prioritized simple, scalable solutions that could offer real value without requiring deep backend overhauls.

Rebuilding Brand Credibility

Given the negative user sentiment around IT issues and transparency, every screen and interaction had to reinforce trust. We leaned into clean layouts, upfront explanations of fees, and clear action feedback to rebuild confidence in the platform.

Simplifying Financial Concepts

Instead of simply sharing information, we designed the experience to guide and teach along the way with clear and simple copy and step-by-step guides.

Regulatory Requirements

Operating under U.S. financial regulations required a thoughtful content strategy. We kept things clear and compliant, but still warm and easy to understand.

Users

Personas

Through our research, we developed three target user profiles, carefully considering their goals and frustrations. While the participants had diverse financial backgrounds and aspirations, they shared a common desire for a user-friendly website that promotes transparency and aids them in managing their loans and avoid unnecessary fees.

Objectives

Revewing project goals

While the primary business objectives centered on maximizing user conversion and generating leads by clearly communicating the functionality of the application, we successfully identified the areas where these objectives intersected with that of users by using our research into Island Finance's customers.

Our goal was to enhance customer service by thoroughly reimagining and rebuilding the user journey based on Island Finance's user needs. We sought to position the company as a friendly and trustworthy partner in digital personal loans. The team's mission was to empower users to make informed financial choices and monitor their finances effectively, ultimately enhancing the overall quality of life for customers while still fulfilling the business's goals.

Brainstorming

Organizing Ideas and the solution

Considering our research and the goals and frustrations of our personas, I categorized the insights into four spectrums to aid in generating ideas.

Opportunities

When nobody else can help you, you can come to us.

24 hour decision

Calculate your loan without affecting your credit

Unsecured loans wont put your assets at risk

Up to 84 months to pay

More time to pay than a credit card

Online and automatic payment available

Good for consolidating debt

Application can be saved for later

Pain Points

Outdated website

Clunky navigation

Calculator hidden in a different page

Information is hard to find and pages are hidden

No CTA except in navigation

No client portal

Inconsistent design

Some options are not available on mobile site

Considerations

People are sharing confidential information and security is very important

A lot of people lack financial literacy and will have a lot of questions regarding charges involved in getting a loan

People want to be able to do everything online without commuting

Need for transparency and being able to manage finances easily and online

Need for automatization

Solutions

Update home page to include key points about personal loans and the process

Add a calculator in the home page to gather leads

Create a client portal for people to manage their loans digitally

Rethink navigation menu

Create a consistent design system

Add more CTAs through the website

Good but not necessary: Make direct deposit of loan possible

Feature Roadmap

Transforming needs into features

Based on the touchpoints and user needs identified during the empathizing phase, I developed a Product Feature Roadmap to outline key app features and guide upcoming design efforts.

Information Architecture

Organizing information

Taking into account the required features and the diverse needs of users seeking financial guidance and services, I created a map to illustrate the website's structure. This map highlights how core pages and features are organized, and is designed to guide users smoothly through the site, making it easy to find tools, resources, and key financial information.

User Flows

Identifying how users complete tasks

To truly support users, I needed to understand how they actually got things done, how they navigate, what they expect, and where they might hesitate. Mapping their steps helped us design flows that feel natural, supportive, and frustration-free.

Applying for a loan through nav bar button:

Applying for a loan through the calculator:

Making a payment:

Design

Lo-fi Wireframes

Design

Design System & Style guide

High-fi Wireframes

Introducing Island Finance

A personal loan experience designed to feel simple, clear, and trustworthy. From the first screen to the final step, every detail was crafted to guide users smoothly and make financial decisions less intimidating.

View Wireframes

Simplifying the Loan Decision Journey

To make the decision-making process feel easy and transparent and help users feel supported, I designed this page to balance education, reassurance, and action. It starts by answering the first thing most users want to know: “Is this loan actually a good fit for me?” with a quick breakdown of the key benefits.

From there, I added customer reviews to build trust. A simple “what you'll need” checklist sets expectations early, reducing stress or potential abandonment later in the flow. The 3-step overview keeps the process approachable, and the FAQs address common concerns upfront so users don’t have to hunt for answers.

Designing a Win–Win
Loan Calculator Experience

I designed a loan calculator that lets users explore estimated payments without affecting their credit, paired with a transparent breakdown of rates and fees. After checking their rate, users can create an account to save their progress and later manage their loan online. From a business side, collecting contact details at this stage helps nurture potential applicants and improve conversions.

Designing a Win–Win
Loan Calculator Experience

I designed a loan calculator that lets users explore estimated payments without affecting their credit, paired with a transparent breakdown of rates and fees. After checking their rate, users can create an account to save their progress and later manage their loan online. From a business side, collecting contact details at this stage helps nurture potential applicants and improve conversions.

Making Applications Feel Easy

Form fatigue is common in financial applications, so I focused on making a step-by-step loan application that helps users see their progress and stay engaged. At the end, transparent fees and flexible loan options help users choose what best fits their needs and budget.

Creating Clarity Around Loan Coverage Options

Users needed to understand protection options without feeling pressured. This design explains each plan clearly, showing coverage, eligibility, and how it works in just a few steps. The transparency improves trust—and helps the business encourage adoption naturally.

Making Big Purchases More Manageable

This Pay Over Time page makes financing feel simple and approachable by outlining key benefits, application requirements, and partner stores to help users shop confidently and encourage use.

Designing a Smooth Transition to Partner Providers

This page helps users learn about different coverage options and trusted partners in a clear, approachable way. Because these plans are offered through Island Finance's licensed partners, the collaboration adds credibility and reassurance. Once users find the right plan, they can continue to the provider's website.

Designing a Smooth Transition to Partner Providers

This page helps users learn about different coverage options and trusted partners in a clear, approachable way. Because these plans are offered through Island Finance's licensed partners, the collaboration adds credibility and reassurance. Once users find the right plan, they can continue to the provider's website.

Building Brand Credibility and Connection

These pages were designed to strengthen trust and connection across the Island Finance ecosystem. The About and Press sections highlight the company's story, values, and community impact, reinforcing credibility through consistent visuals and tone. Branch and Contact pages make it easy for users to locate offices or reach support, addressing accessibility pain points and reducing friction. Job listings and the blog humanize the brand, showcasing growth, expertise, and real stories that build long-term recognition and loyalty.

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