uno Home Loans loanScore™ wins Good Design Award
uno Home Loans announce it has received a Good Design Award in the Digital Design Web Design and Development category for loanScore™, in recognition for its outstanding design and innovation.
uno is the first mortgage broker in Australia to win a Good Design Award for customer facing digital technology, strengthening its commitment to providing category leading innovation to customers.
More than 55 Good Design Awards Jurors evaluated each entry according to a strict set of design criteria which covers ‘good design’, ‘design innovation’ and ‘design impact’, and found uno’s loanScore demonstrated excellence in all categories.
uno’s loanScore enables any person with a home loan to answer a fundamental question: ‘is my current home loan any good or not’. In less than two minutes, users can compare their home loan to see how good their rate is and can be alerted when there are savings to be made.
The Good Design Awards Jury praised uno Home Loans loanScore, commenting: “A very clever idea that has the potential to save people thousands of dollars with very little effort. Great work constructing a scoring mechanism to simplify a lot of complexity without being opaque and disempowering. Easy form field filling, with sensible defaults and fast predictive options. Good use of early tempters half way through the form process to encourage completion rates. The jury also liked the options for renegotiating with the current lender, rather than just being a passive aggregator.”
uno identified that Australians were wasting over $4bn a year in unnecessary interest which they could be saving if they took a more active approach to their loan. loanScore was conceived out of a need to address this financial waste, offer a way to translate all the complex and nuanced home loan information and display this in simple, understandable and actionable terms for consumers.
Critically, it has also been made available to anyone with a loan – not just a customer who got their loan through uno.
Vincent Turner, Founder says: “ At uno we’re passionate about ensuring all Australians not only get a great home loan up front, but also stay on a great deal through the life of their home loan. We designed a digitally led proposition called ‘Active Home Loan Management’ and a unique technology at the heart of it called loanScore. To date, we have already identified over $456m worth of potential savings for over 34,000 subscribers who collectively have over $20 billion worth of home loans.”
Designed by:
uno Home Loans: Vincent Turner; Andy Coffey; Bronson Chan; Carlos Claro; Alexiy Charamko; Milton Chan; Ding Guo; Chris Abbott (North Collective)
Commissioned by:
uno Home Loans
Designed in:
Australia
Dr. Brandon Gien, CEO of Good Design Australia said: “Receiving a Good Design Award is a significant achievement given the very high calibre and record number of entries received in 2020.”
“There’s no doubt it has been a really tough year for everyone so it’s nice to be able to share some good news for a change. The projects represented in this year’s Good Design Awards shine a positive light on our creative and innovative capacity as human beings. These inspirational winning projects give me hope and optimism that our design community will continue to innovate, no matter how challenging the world around us is,” said Dr. Gien.
“Australia’s Good Design Award is more than a symbol of design excellence – it represents the hard work and dedication towards an innovative outcome that will ultimately make our lives better. These projects showcase the sheer brilliance of design and the potential it has to improve our world,” said Dr. Gien.
The 2020 Good Design Awards attracted a record number of submissions with an astonishing 835 design projects evaluated in this year’s international design awards.
