Island Finance Website

Role

UX Research, Product Design, UX/UI Design

Industry

Finance

Tools

Adobe XD, Whimsical

View Full Case Study

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.

Snapshot

The User

The website was designed for people in Puerto Rico, mainly middle aged, who were looking for personal loans. Many of them were managing tight budgets, facing unexpected expenses, or working to rebuild their credit. Some users were not very comfortable navigating financial websites or understanding loan terms.

Snapshot

The Problem

The existing website was outdated, difficult to navigate, and inconsistent in both structure and tone. Users struggled to find information about loans, eligibility, and partner services, leading to frustration and feeling taken advantage of. From a business perspective, the site also lacked flexibility for new content, promotions, and compliance updates.

Snapshot

The Importance

This redesign aimed to modernize Island Finance's digital presence, making it more trustworthy, inclusive, and easy to use for a wide range of audiences. Beyond improving usability, the project helped the company strengthen its credibility, align with brand goals, and better connect with customers online.

Competitive Audit

Understanding the Market

To assess Island Finance's position in the personal loan space, six direct and indirect competitors were analyzed across usability, trust communication, digital features, and content clarity.

The audit shows that across local banks and fintech lenders alike, soft-pull prequalification, transparent APR calculators, and fast automated decisions have become baseline expectations. The indirect competitors have set a bar that local Puerto Rico banks are actively racing to match. Banco Popular's recent digital loan platform and Oriental's educational content show the market moving toward clarity and accessibility. The opportunity for Island Finance is to close that digital gap before a platform like Kiwi, which serves the same market, does it first.

Competition Type Design quality Trust signals Loan calculator Mobile UX Financial Literacy
FirstBank PR Direct Good Strong Yes Good Good
Oriental Bank Direct Functional Strong Yes Functional Strong
Banco Popular PR Direct Strong Strong Yes Strong Weak
Kiwi Credito Direct Strong Weak No Strong Weak
LendingClub Indirect Strong Strong Yes Strong Good
OneMain Financial Indirect Strong Strong Yes Strong Good

Strong Brand Presence

FirstBank Puerto Rico

Direct Competitor

Polished design with solid brand credibility and a well-organized product suite. The personal loan page leads with rates and benefits clearly, and the blog and "Watch and Learn" video section show investment in financial education. However, the loan product lives inside a large navigation ecosystem, and the application flow redirects to a third-party portal, creating a noticeable break in the experience.

Takeaway: The loan journey loses continuity at the most critical moment. Island Finance can win by keeping the user in one seamless, focused flow.

Educational Content Leader

Oriental Bank

Direct Competitor

One of the few local banks investing in financial literacy, with educational resources and a blog aimed at consumers of all ages. However, the site design is visually dated, with heavy navigation, image-based UI elements, and a personal loan page buried deep inside a broad product ecosystem. The experience feels institutional, not borrower-focused.

Takeaway: Clean navigation and a visible calculator are table stakes. Financial literacy content is the gap across the board.

Market Leader

Banco Popular PR

Direct Competitor

The strongest digital experience among local competitors. Soft-pull prequalification, a loan calculator surfaced directly in the navigation, and same-day disbursement make the experience fast and transparent. As the island's largest bank, though, the experience is built for breadth, and the fine print is dense.

Takeaway: Large institutions sacrifice product-level clarity for ecosystem breadth. Island Finance can win on single-product focus and simplicity.

Shared Audience

Kiwi Credito

Direct Competitor

Targets the same underserved borrowers, with a clean, mobile-first flow and a credit builder product that appeals to first-time borrowers. With no loan calculator, financial education or physical presence, it doesn't do much to earn the borrower's trust. The site relies entirely on vague customer reviews. The design is generic and the loan ceiling is low.

Takeaway: Has the audience and the flow but not the depth. Island Finance has higher loan amounts, 49 branches, and a founding mission that Kiwi can't replicate.

Digital Benchmark

LendingClub

Indirect — US digital lending

The benchmark for digital-first personal lending. Transparent rate display from the first page, an intuitive loan calculator, clear APR communication, and a step-by-step application flow that reduces anxiety at every stage.

Takeaway: Clearly communicates value before the application starts. It proves that surfacing rate ranges, soft-pull checks, and clear product info early removes hesitation.

Hybrid Model Benchmark

OneMain Financial

Indirect — US digital lending

One of the few lenders combining a digital flow with physical branches. No minimum credit score, same-day funding, and a resource center with calculators and education content. The weak point is transparency: prequalification hides APR behind a hard credit pull, adding friction at the worst moment.

Takeaway: Hiding APR behind a hard credit pull creates hesitation. Clear rate ranges and terms should be displayed before the borrower commits to anything.

User Interviews

Understanding Users

To understand how Island Finance customers experience the service, user feedback and reviews were analyzed for recurring themes. Four patterns emerged that directly shaped the design direction.

Trust

"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."

Hidden Costs

"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."

Clarity

"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."

Digital Management

"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."

  • Digital reliability signals institutional competence. Outdated IT infrastructure signals that the institution itself is unreliable. A modern, fast, well-functioning site directly changes how users perceive the company's credibility.
  • Trust and transparency are the core problem. Users feel misled about costs, fees, and how the product works. The redesign prioritizes upfront APR communication, clear fee disclosure, and plain-language explanations at every step.
  • Financial literacy gaps cause real harm. Users do not understand product features, payment options, or how interest accrues. Educational content and plain-language definitions reduce confusion and prevent the negative experiences users described.
  • Digital self-service is a baseline expectation. Users want to manage payments, check balances, and resolve issues without calling a branch.

Challenges

Problem Statement

The necessity to upgrade Island Finance's banking website 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

Constraints and Considerations

Redesigning the Island Finance experience meant balancing real user frustrations with internal constraints that shaped what was possible. Together, these informed every design decision.

💻

Trust & Credibility

An outdated website and unreliable IT services raised red flags for clients, signaling a lack of professionalism. Every screen had to counter that through clean layouts, upfront fee explanations, and clear action feedback that rebuilt confidence in the platform.

📚

Financial Literacy

Low financial literacy makes the loan process confusing and overwhelming. Rather than just presenting information, we designed the experience to guide and teach using plain copy and step-by-step flows to reduce overwhelm and encourage more responsible borrowing.

🤝

Transparency

Fear of hidden fees and unclear terms slows down decision-making and drives potential borrowers elsewhere. We made disclosures and loan terms a natural part of the flow, keeping things clear and compliant without feeling cold or bureaucratic.

📱

Digital Loan Management

Without the ability to manage loans digitally, the experience feels outdated and frustrating. Legacy infrastructure limited how far we could go, so we prioritized simple, scalable solutions that gave customers real convenience without requiring deep backend overhauls.

Objectives

Revewing Project Goals

Island Finance's business goals around conversion and digital adoption were only achievable if the site actually worked for the people visiting it. The goal was to identify where those interests converged and design toward that intersection.

Business goals

Project goals

User goals

  • Increase conversions
  • Boost repeat loans
  • Grow digital adoption
  • Build brand credibility
  • Expand digital channels
  • Trust and transparency
  • Clear loan terms
  • Digital self-service
  • Educated borrowers
  • Apply with confidence
  • Understand total cost
  • Manage loans online
  • No hidden surprises
  • Fast decisions
Features

Transforming Needs into Features

Based on the user needs identified during the empathizing phase, we decided to focus on a few key features to enhance customer's experience.

Loan Calculator

Explore options before committing

Helps users explore their options risk free. It clearly presents loan details, prevents surprises about future charges, and builds trust.

Online Application

Apply anytime, from any device

Makes it easy for users to apply anytime, from any device. It guides them through each step with clear instructions and built-in validation to reduce errors and confusion.

Online Payments

Manage loans without a branch visit

Gives users a simple and secure way to manage their loans. It reduces the need for branch visits, saves time, and encourages on-time payments through clear guidance and easy access from any device.

Loan Dashboard

Stay informed and in control

Gives users a clear overview of their account in one place. They can track balances, upcoming payments, and loan details at a glance. It simplifies management, builds confidence, and helps users stay informed and in control of their finances.

User Flows

Identifying how users complete tasks

To truly support users, we 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

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, we 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, we 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

We 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

We 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 we 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.

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