Rex Africa

Integrating 24k+ local merchants from paper to digital loan application

Since launching the app, Rex Africa has seen:

A 25% increase in loan applications, with 30% of applicants being younger users.
Faster loan disbursement, with over 70% of applications processed within 24 hours.
Positive feedback from local merchants who appreciate the new accessibility, with over 90% reporting satisfaction with the process.

Overview

Rex Africa, originally a Microfinance Bank (MFB), operated in local communities, serving market sellers, merchants, and small businesses through physical branches. Loan applications were done manually, requiring in-person visits, form submissions, and a lengthy approval process. As the digital banking space in Africa rapidly evolved, Rex Africa aimed to transform into a Neobank to better serve their customers, with ambitions to reach younger demographics while maintaining their core audience of local merchants and market sellers.

Problem Statement

The manual loan application process was outdated, inefficient, and inaccessible for tech-savvy younger audiences and remote customers. The physical limitations, long approval times, and heavy paperwork created bottlenecks, especially for merchants who needed quick access to capital. Rex Africa needed a digital loan application solution that streamlined the process, improved accessibility, and appealed to both its existing customers and a younger, digitally inclined audience.

Design Goals

Streamline the Loan Process: Create a simple, intuitive digital loan application flow that reduces paperwork, eliminates the need for in-person visits, and shortens approval times.
Accessibility for Market Sellers: Ensure that local merchants, many of whom may be unfamiliar with digital tools, can easily use the app.
Appeal to Younger Users: Design an experience that aligns with the expectations of younger, tech-savvy users while offering a more modern banking experience.
Trust and Transparency: Build trust by making loan terms, interest rates, and repayment schedules clear and easy to understand.
Local Context: Incorporate local languages, mobile money options, and other regional preferences to create a tailored experience.

Research

We conducted research in two phases:

Field Research with Market Sellers & Merchants: Interviews and shadowing sessions were conducted in local markets to observe the existing loan application process. We learned that merchants valued quick access to loans but were intimidated by complex processes. Trust in digital banking was low, so the application needed to feel safe and transparent.
Surveys and User Testing with Younger Audiences: Younger users, mostly between the ages of 18–30, were interested in quick loans for personal and business needs. They valued speed, convenience, and a modern UI that reflected trust and professionalism.

Design Process

User Personas
- Amina: A 45-year-old market seller who needs a loan to purchase more stock during peak seasons. She’s unfamiliar with complex tech, so the app must be simple and easy to use.
- David: A 26-year-old entrepreneur looking to expand his side business. He wants a loan solution that’s fast, transparent, and easily accessible from his smartphone.
Wireframes We created wireframes focused on a three-step loan application flow:
- Step 1: Loan Request: Users select loan amounts and terms. We made this as visual as possible using sliders and options with real-time interest calculations to show repayment amounts.
- Step 2: Eligibility Check: A soft credit check is run in the background, and users can upload any needed documents, such as an ID or business registration certificate. We ensured uploading was simple and supported local ID types and documents.
- Step 3: Approval and Disbursement: Users receive immediate feedback on approval status. If approved, the money is instantly transferred to their mobile money or bank account.
Key Features
- Loan Calculator: A transparent tool that allows users to see how much they’ll pay in interest over time, catering to both high-tech and low-tech users.
- Multi-language Support: The app supports local languages like Hausa, Yoruba, and Igbo, making it accessible to non-English speakers.
- Mobile Money Integration: Since many users rely on mobile money services, we integrated seamless disbursement and repayment through popular platforms like MTN Mobile Money and Paga.
- Trust Signals: We included easy-to-understand explanations of loan terms, approval status indicators, and customer support features to increase trust.
Usability Testing We tested the prototypes with both market sellers and younger users. Key insights included:
- Market Sellers found the app easy to navigate and appreciated the loan calculator for transparency.
- Younger Users praised the fast application process and modern design, though they requested more flexibility in loan amounts and repayment terms.

Design Iterations

Based on feedback:

We simplified the language in the app even further, especially in the loan terms section, to cater to lower literacy levels.
Added a step-by-step tutorial for first-time users to reduce the learning curve, particularly for older merchants.
Introduced push notifications and reminders to help users stay on track with their loan repayments.

Final Design

The final design is a clean, modern, and user-friendly app that caters to both market sellers and younger users. It simplifies the loan application process, provides transparency, and ensures a smooth transition for Rex Africa from a physical MFB to a Neobank.

Conclusion

The Data Visualization Dashboard at Safiyo empowered businesses with a more intuitive way to analyze complex data for consumer intelligence. The robust design system that underpinned the project ensured that Safiyo could scale its features to meet the evolving needs of its clients, while delivering a flexible, user-friendly interface. This case study showcases how thoughtful product design—driven by user research and a scalable design system—can turn a complex challenge into a powerful tool for business growth.