We were inspired to create an application that takes some of the pressure off needing financial help. Often times friend or family relationships are strained because there are private loans that go unpaid. With Loan+, this process becomes more formal via contracts and definitive monthly repayment while remaining a user-friendly phone app.
What it does
The Loan+ mobile app allows individuals to request and accept loans within their social circles. It determines a monthly repayment plan as the amount of money and number of months are changed. To create a legally binding agreement, the mobile app provides users with an auto-generated loan contract based on the user input and gives users the opportunity to upload a picture of their ID for confirmation.
How we built it
Challenges we ran into
We as a team found it difficult to work in a short time frame and develop something that demonstrated our vision. We overcame this by focusing on the most critical features that showed the value proposition of our application.
Accomplishments that we're proud of
We are solving a problem that we ourselves have faced in our own communities.
What we learned
Yahya Suid: I was able to broaden my approach in UX/UI design in conducting more user research and defining the users of this app. This also helped build additional stages to the iteration process that gave us the polished and open interface in our final designs. Guillermo Saavedra: I learned how to use the Camera feature of React Native to create the ID upload feature in the mobile app. Zainab Ali: I learned how to use React Native to develop a mobile app and test the mobile app on my phone during development. I also learned about loan contracts and how they are used to make an agreement between two people.
What's next for Loan+
The Loan+ team will continue pushing working by flushing out the rest of the high-fidelity mockups and connect to Finance APIs.