SoFi SMB Expense Management Platform

SoFi SMB Expense Management Platform

ROLE

ROLE

Product Designer

Product Designer

TEAM

TEAM

2 PMs

6 Designers

1 Engineer

2 PMs

6 Designers

1 Engineer

TIMELINE

TIMELINE

Feb 2024 - May 2024

Feb 2024 - May 2024

SKILLS

SKILLS

UX Research

Wireframing

Prototyping

Design Systems

Financial Concepting Client Work

UX Research

Wireframing

Prototyping

Design Systems

Financial Concepting Client Work

TOOLS

TOOLS

Figma

FigJam

Notion

Figma

FigJam

Notion

CONTEXT

SoFi’s mission is to help “get your money right”—so, what’s “wrong” here?

SoFi’s mission is to help “get your money right”—so, what’s “wrong” here?

SoFi is a global leader in digital finance, with over 7.5M members and 34B in debt paid off. However, while its current product suite houses over 10 products, it lacks one tailored for a major market: small business owners. I worked with SoFi to build a Small Business Expense Management Platform that makes the financial management experience feel accessible and tailored to SMB needs.

SoFi is a global leader in digital finance, with over 7.5M members and 34B in debt paid off. However, while its current product suite houses over 10 products, it lacks one tailored for a major market: small business owners. I worked with SoFi to build a Small Business Expense Management Platform that makes the financial management experience feel accessible and tailored to SMB needs.

CONTEXT

The Challenge

The Challenge

With a suite of over 10 products, SoFi presented a problem packed with ambiguity and potential cross-product integration: How might we help small business owners keep their business finances healthy and thriving?

With a suite of over 10 products, SoFi presented a problem packed with ambiguity and potential cross-product integration: How might we help small business owners keep their business finances healthy and thriving?

Solution & Impact

Solution & Impact

A highly tailored business management platform that enables small business owners to take concrete actions towards their goals, as well as easily understand their business performance.

A highly tailored business management platform that enables small business owners to take concrete actions towards their goals, as well as easily understand their business performance.

COMPETITOR ANALYSIS

Establishing a value proposition through market research.

Establishing a value proposition through market research.

SoFi’s competitors have tech-savvy features and tools, but they lack usability and customer support.

SoFi’s competitors have tech-savvy features and tools, but they lack usability and customer support.

COMPETITOR PLATFORMS

Strengths

Customizable dashboard views

Task automation

Cash flow analytics

Cross-platform integration

Weaknesses

Steep learning curve

Limited financial resources

Lack of customer support

USER RESEARCH

USER RESEARCH

Interviewing 20 small businesses to uncover what’s frustrating in their finances.

Interviewing 20 small businesses to uncover what’s frustrating in their finances.

To research how we could best bridge gaps in the existing market, I interviewed various small business owners in industries from retail, food, and more. Within this user group, my team and I synthesized the following key insights:

To research how we could best bridge gaps in the existing market, I interviewed various small business owners in industries from retail, food, and more. Within this user group, my team and I synthesized the following key insights:

4 KEY INSIGHTS

Turning these key user pain points into targeted opportunity areas.

Turning these key user pain points into targeted opportunity areas.

Guided by UX Research, we turned these four key user pain points---lack of centralization of various finances, overwhelming information, lack of clarity on business performance, and loan process confusion---into corresponding opportunity areas for our designs.

Guided by UX Research, we turned these four key user pain points---lack of centralization of various finances, overwhelming information, lack of clarity on business performance, and loan process confusion---into corresponding opportunity areas for our designs.

TEAM COORDINATION & FEATURE OWNERSHIP

To achieve our team’s goal of creating a comprehensive SMB finance management platform for SoFi, we divided tasks for focused feature development. I took ownership and led the design of the loan exploration and application features, prioritizing simplicity and clarity to help small businesses navigate complex loan processes and financial jargon.

To achieve our team’s goal of creating a comprehensive SMB finance management platform for SoFi, we divided tasks for focused feature development. I took ownership and led the design of the loan exploration and application features, prioritizing simplicity and clarity to help small businesses navigate complex loan processes and financial jargon.

I took ownership over tackling the challenge of loan confusion among SMBs.

I took ownership over tackling the challenge of loan confusion among SMBs.

HONING INTO A FOCAL GOAL

How might I empower SMBs to confidently navigate loan exploration and applications to drive financial growth?

How might I empower SMBs to confidently navigate loan exploration and applications to drive financial growth?

Circling back, my UXR indicated that while small business owners often sought to expand their businesses, they found difficulty doing so due to the complex loan application process. My goal was to design loan exploration features that felt approachable and non-committal, making it easier for SMB owners to start exploring options. This approach aimed to encourage financial growth without overwhelming them at the initial stages.

Circling back, my UXR indicated that while small business owners often sought to expand their businesses, they found difficulty doing so due to the complex loan application process. My goal was to design loan exploration features that felt approachable and non-committal, making it easier for SMB owners to start exploring options. This approach aimed to encourage financial growth without overwhelming them at the initial stages.

IDEATION

Initial Loan Feature Explorations

Initial Loan Feature Explorations

Given the current complexity of loan applications and varying providers, I sketched out lo-fidelity concepts to help SMBs explore options, compare providers, and easily assess the potential impact of loans on their business.

Given the current complexity of loan applications and varying providers, I sketched out lo-fidelity concepts to help SMBs explore options, compare providers, and easily assess the potential impact of loans on their business.

ITERATION

First Up—simplifying financial loan jargon to kickstart the application process.

First Up—simplifying financial loan jargon to kickstart the application process.

In a weekly sync with our SoFi client, we solidified SoFi’s unique value as a loan marketplace: connecting SMBs with loan providers that match their specific needs. Thus, I began by iterating on ways to present this information clearly, defining the types of loans and providers available in an informative, accessible format for SMB owners.

In a weekly sync with our SoFi client, we solidified SoFi’s unique value as a loan marketplace: connecting SMBs with loan providers that match their specific needs. Thus, I began by iterating on ways to present this information clearly, defining the types of loans and providers available in an informative, accessible format for SMB owners.

I selected the third iteration to focus on tailoring the loan application process for SMBs. Instead of listing all loan types as in the previous iterations, I emphasized a questionnaire-based approach, asking direct questions like business industry to personalize the application. The additional toggle feature further creates a sense of exploration and flexibility, helping SMB owners begin the application without needing a clear idea of what they’re looking for upfront.

I selected the third iteration to focus on tailoring the loan application process for SMBs. Instead of listing all loan types as in the previous iterations, I emphasized a questionnaire-based approach, asking direct questions like business industry to personalize the application. The additional toggle feature further creates a sense of exploration and flexibility, helping SMB owners begin the application without needing a clear idea of what they’re looking for upfront.

Next—displaying matched loans in a simple and digestible way.

Next—displaying matched loans in a simple and digestible way.

Once users complete the above SoFi’s loan matching form, they are directed to a page displaying loans and providers tailored to their needs. I explored multiple ways to present this information effectively.

Once users complete the above SoFi’s loan matching form, they are directed to a page displaying loans and providers tailored to their needs. I explored multiple ways to present this information effectively.

I chose the third option because it allows users to easily compare loan offers with essential financial figures, while incorporating the option to expand/collapse the cards for more detailed loan information. By toggling between the different dropdown views for each loan offer, users were able to either see a quick overview or more important financial details and loan impact. Furthermore, this option incorporates a sidebar where users can toggle to explore more loan options if they are not satisfied with their loan matches.

I chose the third option because it allows users to easily compare loan offers with essential financial figures, while incorporating the option to expand/collapse the cards for more detailed loan information. By toggling between the different dropdown views for each loan offer, users were able to either see a quick overview or more important financial details and loan impact. Furthermore, this option incorporates a sidebar where users can toggle to explore more loan options if they are not satisfied with their loan matches.

And what about the specific predictive impacts these loans might have on SMBs?

And what about the specific predictive impacts these loans might have on SMBs?

User research revealed that while SMBs were interested in exploring loans, they also felt apprehensive due to uncertainty about potential loan impacts on their business. To address this, I explored graphical visualizations to help SMBs clearly see the predictive impacts of loans on their business outcomes.

User research revealed that while SMBs were interested in exploring loans, they also felt apprehensive due to uncertainty about potential loan impacts on their business. To address this, I explored graphical visualizations to help SMBs clearly see the predictive impacts of loans on their business outcomes.

FINAL PROTOTYPE

FINAL PROTOTYPE

Next Steps & Reflections

Next Steps & Reflections

Conduct User Testing on Product

Conduct User Testing on Product

User testing will reveal how users interact with the product, uncovering usability issues and areas for improvement. These insights will guide design adjustments to enhance the user experience and better meet user needs.

User testing will reveal how users interact with the product, uncovering usability issues and areas for improvement. These insights will guide design adjustments to enhance the user experience.

Measure KPIs & Analytics

Measure KPIs & Analytics

This is crucial for identifying which features drive engagement, refining underused elements, and ensuring the platform effectively meets SMB needs, ultimately supporting adoption and growth.

Accounts for Different Industries

Accounts for Different Industries

Tailoring the platform to accommodate the unique needs of SMBs across various industries ensures features that are relevant and adaptable to specific business contexts. This promotes broader usability and increased adoption.

Throughout this client project, I learned to create innovative designs while working with a mature design system, which challenged me to think creatively within set constraints. Furthermore, working in the fintech industry, a field that I did not have much prior experience in, expanded my understanding and adaptability in the face of unfamiliarity. I’m excited to tackle more challenges at the intersection of finance, technology, and design!

Throughout this client project, I learned to create innovative designs while working with a mature design system, which challenged me to think creatively within set constraints. Furthermore, working in the fintech industry, a field that I did not have much prior experience in, expanded my understanding and adaptability in the face of unfamiliarity. I’m excited to tackle more challenges at the intersection of finance, technology, and design!

Made with

by Erica © 2025

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Curious to collaborate? Let's make it happen!

Made with

by Erica © 2025

Thanks for stopping by!

Curious to collaborate? Let's make it happen!