SelectFI: Prototyping & Customer Validation

The client approached Forcoda with the idea of automating and streamlining the financing process for car dealerships and their customers. The client deeply understood the automotive industry and common pitfalls of the vehicle financing process, which was slow and lacked buyer transparency.

The current process for getting financing quotes based on the customer’s credit history and lender’s guidelines is time-consuming. It requires a significant amount of manual paperwork, often frustrating the customers and the dealership staff.

The client had a clear vision of what he wanted to achieve, and he was confident that Forcoda could help bring his vision to life.

Historically, the vehicle financing process has been complex and time-consuming, involving manual calculations and paperwork. It’s also prone to conscious and unconscious decision-making bias, exposing dealerships to potential discrimination lawsuits and fines of tens of millions of dollars.

Auto dealerships often struggle to provide accurate financing options to their customers, while customers struggle with comparing different available financing offers. 

The challenge was to design and develop a solution to streamline the financing process for auto dealerships and their customers, making it more efficient, transparent, bias-free, and user-friendly.

The solution needed to address the needs and wants of all three user categories: car dealerships, lenders, and customers:

• Car dealerships needed a solution that integrates seamlessly with their existing systems and provides a comprehensive dashboard to manage and track financing applications.
• Lenders required a streamlined process that reduced manual work and improved efficiency.
• Customers needed a user-friendly platform that allowed them to easily compare financing options and make informed decisions based on their preferences.

Additionally, the solution had to adhere to industry regulations and compliance standards, ensuring data privacy and security. It was crucial to create a solution that would enhance the overall buying experience for customers and provide convenience and transparency for all parties involved.

To further gain insight into customers’ minds, we used our market-tested 7-Figure Prototype Method™.

The Forcoda team interviewed users in all three categories to understand their unique needs and challenges. Based on the information we uncovered, we designed user journeys and user experiences that matched their different needs and expectations. We also further validated the client’s idea and discovered opportunities for additional features in future app interations.

Forcoda’s designers and product managers collaborated closely with the client to define the project scope and goals.

Once the initial app functionality was determined, we:

• Created low-fidelity wireframes and outlined information architecture.
• Visualized the user interface and defined screen interactions and features required for the MVP
• Transformed wireframes into high-fidelity designs, ensuring a clear and intuitive user experience.

After several iterations, the design gradually evolved into a complex and interactive clickable prototype. The design team worked closely with the development team to ensure the feasibility of the designed solution.

Throughout the design process, we continuously sought user feedback to refine the design further, making it more user-centric and aligned with the needs of the target users.