LightStream: 0-1 Loan product

LightStream, a division of Truist, operated as a standalone digital lending experience with its own website and application. In 2024, the opportunity arose to integrate LightStream into the core Truist digital commerce platform to create a more cohesive customer experience and reduce friction for Truist clients.

LightStream: 0-1 Loan product

LightStream, a division of Truist, operated as a standalone digital lending experience with its own website and application. In 2024, the opportunity arose to integrate LightStream into the core Truist digital commerce platform to create a more cohesive customer experience and reduce friction for Truist clients.

Design impact

Increased application completion rate from 35% to 75% after bringing onto Truists platform

Contributed to 41% YoY increase in lending production

Highest product application completion rate among all Truist Digital Commerce products (75% compared to 35% avg.)

New LightStream loan welcome page

The task

Prior to the "Turn Lightstream Purple" initiative in 2024, Lightstream loans were offered via a separate Lightstream "owned" application process. The application itself was clunky and outdated.

Former lightStream loan welcome page

OUR GOAL

How might we design the Lightstream loan application to be incorporated with Truists digital commerce platform and to revamp the application process to be innovative, improve the user experience and increase loan applications.

Pain points

The term "autopay" may not be immediately understood by users. Context is provided but feels separate from the term as a result of spacing used

3.The term "autopay" may not be immediately understood by users. Context is provided but feels separate from the term as a result of spacing used

Potentially misinterpreted as loan type

1.Potentially misinterpreted as loan type

UI feels dated

4.UI feels dated

Layout and order of fields is disjointed. Loan type, amount, and term are separated. Analytic/marketing information is interjected in between

2.Layout and order of fields is disjointed. Loan type, amount, and term are separated. Analytic/marketing information is interjected in between

First page of the Lightsteam by Truist application (old)

First page of the Lightsteam by Truist application (old)

Users are unable to see what loan they are applying for, nor the amount / terms selected, after they continue off of the first page unless they navigate backwards in the application.

1.Users are unable to see what loan they are applying for, nor the amount / terms selected, after they continue off of the first page unless they navigate backwards in the application.

Progress bar for the Lightsteam by Truist application (old)

Progress bar for the Lightsteam by Truist application (old)

Designing the application

MODERNIZED

SIMPLISTIC

CONVERSION

Our key considerations when designing the application from the ground up was modernization, simplistic, and to increase conversion/completion rate. It's easy for banks to fall into a bucket of "boring" or "outdated." We wanted to flip the script with this application. We wanted to make the process exciting, enjoyable, and overall, easy to navigate through. 

We decided to do things differently - both from the preexisting Lightstream application, as well as what other Truist product applications look like. We wanted to guide our users through the process, make each page digestible - focusing on one item or category of information at a time. 

Addressing the pain points form the pre-exisiting Lightstream by Truist application in combination with our aim for innovation, we designed through rounds of iterations, increased project requirements, and balanced design with business goals to develop Truists Lightstream, as we see it today

Ask the people

During the design for the initial launch for Lightstream on Truist.com, our research partner conducted 2 rounds of qualitative research. Talking to real people whom were familiar with the loan application process, we prepared two fully working prototypes with the aim of understanding how our clients felt about the proposed application.

Between research readouts, and sitting in on research sessions, we took back real data to improve our designs and create a product optimized for both new, and preexisting Truist clients.

"Very user friendly...I like it...Big... Bold...Gives you what you are looking for without extraneous information."

- Participant 2, in regards to the loan calculator cards