UX research validates broker marketplace concept

The industry-wide processes for validating mortgage broker accreditations were time-consuming. The company sensed the potential to introduce a broker aggregator marketplace solution to improve validation and generate revenue for the business. However, the company did not want to invest in the solution without gauging its desirability, viability and feasibility. They needed to know whether there was support among brokers, aggregators, lenders and professional bodies for a formalised accreditation process via a centralised solution that securely captures, stores and automates the process of accreditation data.

Recognising that PhoenixDX offers a unique skill set that spans UX research, technology and business analysis, the company enlisted our help with a research and discovery engagement. Specifically, they wanted to develop and test a value proposition for a proposed broker aggregator marketplace solution. The project sought a better understanding of the broker accreditation process, industry needs and best practices. Multi-faceted strategies – including customer and stakeholder interviews, market research, competitor analysis, business model canvassing, customer journey mapping and financial analysis – were employed to inform and validate the company’s idea, with a detailed report positioning them to build a strong business case for a broker aggregator marketplace solution.