OPTIX worked with ACREIMEX, a cooperative serving low-income customers in Mexico to solve a product puzzle. One of the institution’s products is a group credit loan that has played a pivotal role in its success. But we found that the product could have been an even greater success for ACREIMEX if it could only cut loan approval times. People who needed a loan quickly had to go to other financial institutions that charged far higher interest rates. Moreover, the loan process was cumbersome and extremely costly for ACREIMEX itself.
As a solution, the OPTIX team did a quick ‘research sprint,’ mapping the loan origination process to identify specific points along the journey that needed to be smoother, faster, or simpler. In essence, we put the customer at the heart of user design. Watch this demo to learn more about how Acreimex was able to cut its loan approval time from 7 days to just 3.