Since its launch in 2007, Lendo has become the leading provider of consumer loans in Sweden and has helped more than 500,000 customers improve their borrowing terms. With more and more consumers using smartphones, the company understood the need to keep pace with users and embraced mobile early on. By adopting a user-centric, iterative process to deliver optimal experience on the channel, Lendo has been able to produce important gains.

Since its launch in 2007, Lendo has become the leading provider of consumer loans in Sweden and has helped more than 500,000 customers improve their borrowing terms. After undergoing a credit check, Lendo customers can obtain loan offers from multiple banks simultaneously, then choose the one that suits them best. Currently available in Sweden, Norway and Finland, the service is free of charge to customers and paid for by the partner banks. As a finance aggregator focusing on consumer loans, Lendo’s main key performance indicator is sales, while online is its most important distribution channel. 

A user-centric approach at the heart of development

With more and more consumers using smartphones, Lendo understood the need to embrace mobile early on. Making sure the website works on all devices has been a key priority at the heart of development in recent years. Initially, there were a lot of internal discussions at Lendo about how to solve this, for example whether people would take the time to fill in a form on smartphones or whether they would prefer a link enabling them to complete forms at their desktop. However, it quickly became obvious to the Lendo team that users should be able to complete every task on their smartphone. “Companies have been treating smartphones as something different, but as we see it, it’s still the Internet in the eyes of the user,” says Mathias Johansson, company co-founder and CTO.

Lendo believed that from a cognitive perspective the user should intuitively understand what to do on the site straight away. “One important learning from working with our mobile site all these years is the importance of removing any obstacle for the user,” Mathias explains. The priority is for everything to be easy for the customer to understand. This meant putting forms and call-to-action buttons up front and above the fold. From there, the user could navigate further to find relevant information. 


Mobile as an ongoing process

The company started off by creating a mobile site to enhance the user experience. To increase the experience even further, the team made a responsive solution for all devices. With a keen focus on serving customers in the best possible way, they continued to strive to create a better mobile experience. Now, in order to streamline processes and enhance site loading times, Lendo has shifted to a mobile-responsive solution. This means the site is loaded according to each specific smartphone, but that all elements of the site are optimized for smaller screens. 

 “Working with a mobile solution, you need to understand that you can’t create a mobile site and think you’re done. It’s an ongoing process that you need to work on every day,” says Mathias. “That’s why A/B testing is a central part of our process. You test two good ideas and see which one performs best. Then you remove the one that’s performing less well and you replace it with a new idea. And you keep this process up. We always have some testing going on and make sure we learn from the results.”

Great results, with more plans in the pipeline

Viewing the mobile challenge as an ongoing process, Lendo has opted not to use a static metric for the mobile site. Instead of reaching for an arbitrary finish line, the company strives for constant improvements. As for the outcomes so far, Lendo is more than satisfied. Today, all of its processes are mobile-friendly. The application process is centralized around mobile, with all of the first stages working seamlessly on any device. Then, the application process continues via text messages leading to mobile sites. With this easy-to-use mobile-centric approach in place, mobile devices now account for over half of Lendo’s total revenue, while desktop revenue is shrinking in absolute numbers. A testament to shifting consumer behaviours, this illustrates the fact that consumers are ready and willing to buy via smartphones if the mobile experience meets their expectations. 

And Lendo is not done yet. With multiple tests going on at any time, there’s always new work to be done. Currently the team is looking into how to tailor the website according to traffic sources, ensuring content on the site is optimally relevant to any given user. If for example a consumer arrives from a car-related site, Lendo’s site content should reflect that. New images and different information can then be displayed to improve relevance and deliver outstanding user experience.