A new era in credit reporting
Experian are "harnessing data and information to enable business intelligence". They provide information, analytical and marketing services to organisations and consumers to help them manage the risk and reward involved in making everyday financial decisions.
We worked with Experian to develop the information design of a new credit report. This was a significant step in Australia. It aimed to empower the consumer with easy access to their credit rating information. Here's how we went about transforming the whole (perhaps no longer dreaded?) credit report experience.
Universal Favourite worked with Experian to help us design our new look Comprehensive Credit Reports. The UF team took very technical content and transformed it into consumer friendly material that will genuinely assist people to understand and control their credit reputation. They worked with us to sharpen the brief and challenge our thinking so that we achieved a far better outcome than we had initially contemplated.
Nicholas Giurietto - Experienced B2B Product and Marketing Leader, Experian
In 2014 Australia introduced what’s known as comprehensive credit reporting. Many countries around the world including the United States and United Kingdom already have some type of comprehensive credit reporting system. This type of reporting gives licensed credit providers access to more comprehensive information that can help them make better lending decisions.
As part of this change the everyday Australian consumer (yep that’s you) can also access to his or her credit score for free.
Human centred design
We were given the task of turning a very long, dry and difficult-to-digest document into something everyday customers can understand.
So off we went! This was an exercise in rethinking the flow and usability of the document to make it more accessible and easier to read. The main objective was to empower the person reading the report instead of bewildering them. We had two audiences to design for; the person who’s credit history was shown on the report and bankers and financial advisers who make crucial decisions based on this document.
The report needed to be simple enough to navigate through and at the same time hold all of the appropriate information for the bankers and advisors to decide whether or not to lend to a consumer.
A digital experience to bring it all to life
Once we thought about how each user experienced the document and how we could meet their needs through document flow, we then went digital. We took the insights from our research and investigated how the experience we created on paper would best translate into a web-based report. By uncovering the different use cases between print and digital, we gained an understanding of how the report will be used online. This allowed us to deconstruct and reconstruct it with a hierarchy appropriate for the digital realm.
We designed and engineered the front-end of the report by working with Experian’s global web team to implement it into the wider business.
As a result, Experian customers can now access their credit report in print or online.