KeyBank

Small Business Lending

How might we digitize data collection to expedite the underwriting process to relieve Small Business Lending during a global pandemic?
Role UX Lead
Channel Web
Timeframe 2018 - 2020

Overview As a top-10 Small Business Administration lender, KeyBank helped thousands of businesses quickly gain funds through the Paycheck Protection Program (PPP). The team digitized data collection to support rapid application queuing and review during COVID-19, prioritizing transparency and speed under evolving requirements.
Contribution Defined requirements, designed interactive flows, wireframes, and prototypes for an invite-only PPP application and loan progress tracker to reduce call volume and increase transparency.

Problem Limited loan funds and high demand required rapid queuing and tracking of applications while minimizing support overhead and ensuring eligible clients were funneled efficiently.
Hypothesis By retrofitting an existing enrollment framework and adding a loan progress tracker with automated communications, we could increase completion rates and reduce support calls.

 

Disclaimer: Due to compliant restrictions, details have been omited. Let's connect for more details!

Overview

As a top-10 Small Business Administration lender, KeyBank helped thousands of businesses quickly gain funds through the Paycheck Protection Program (PPP), a federally provided, forgivable loan that covers certain business costs. These funds helped cover certain business costs related to payroll expenses, the continuation of group health care benefits, lease payments, mortgage interest payments, utility payments, and interest on other pre-existing debt obligations.The impacts of COVID-19 led to a $2.2 trillion coronavirus stimulus bill signed into law in March 2020 and set aside $349 billion for a new small-business loan program.

Problem

Limited loan funds required a fast queuing system to secure funding for eligible applicants.Applications needed transparent tracking to reduce inbound support volume and manage first-come, first-served processing.
  • 01
    Limited loan funds

    Funds were shared across institutions, creating urgency to queue and funnel eligible clients quickly.

  • 02
    Track and review applications

    Loans were first-come, first-served; the system needed to quickly funnel eligible clients and allow transparent tracking.

Solution

Expanded capabilities of an existing enrollment framework and introduced a loan progress tracker with automated emails and a dynamic status page.
  • 01
    Leveraged existing framework

    Evaluated and adapted current systems to support PPP-specific application requirements.

  • 02
    Loan progress tracker

    Introduced status tracking and email communications to create transparency and reduce call volume.

Approach

Work was prioritized to move quickly; requirements evolved and the team learned from production data and user feedback while iterating in short cycles.

Insights
  • Evolving program requirements required rapid pivots.
  • Learning in production was necessary due to time constraints; customer calls and live data informed changes.
  • Loan processing scale and communication were primary pain points.
Recommendations
  • Prioritize transparency via automated status communications.
  • Retain an agile, iterative approach focused on functionality first.
  • Analyze drop-off metrics for follow-up improvements.

User flow scenarios
User flow scenarios

Ideation

Coordinated ideation for client invitations and status communications to maximize application throughput and clarity.

Design sketch for biggest opportunity.

Invitation email Design sketch for biggest opportunity.
A series of automated emails to communicate status updates to prospect loan borrowers.

Loan application tracker A series of automated emails to communicate status updates to prospect loan borrowers.

Employee admin portal CRM to invite clients to apply for the loan.
CRM to invite clients to apply for the loan.
Account summary Authenticated client access to the loan application.
Authenticated client access to the loan application.
Email communications Automated client updates on application status.
Automated client updates on application status.

Wireframes

Key wireframes outline sign on, loan selection, application detail, document upload, and confirmation flows.

Sign onRequires email validation for invite-only loan applications.
Requires email validation for invite-only loan applications.
Requires email validation for invite-only loan applications.
Loan offering selectionCards are modular and display eligible offers to new and existing customers.
Cards are modular and display eligible offers to new and existing customers.
Cards are modular and display eligible offers to new and existing customers.
Loan detailBusiness expenses can determine eligibility for loan relief.
Business expenses can determine eligibility for loan relief.
Business expenses can determine eligibility for loan relief.
Business informationAdd information for up to 5 business owners.
Add information for up to 5 business owners.
Add information for up to 5 business owners.
Identity verificationFor security purposes, the application requires authorization for a loan application.
For security purposes, the application requires authorization for a loan application.
For security purposes, the application requires authorization for a loan application.
Document uploadDrag and drop or use native operating system upload feature.
Drag and drop or use native operating system upload feature.
Drag and drop or use native operating system upload feature.
Loan confirmationFirst of several automated communications regarding loan application status.
First of several automated communications regarding loan application status.
First of several automated communications regarding loan application status.

Impact

The release processed tens of thousands of PPP applications and distributed billions in loans while maintaining high engagement.

Ranked top 10 in nation

#7

Click-through rate across 28,000+ applications

91%

Loans distributed generated

$8 billion

Takeaway

Short-term, high-velocity work reinforced the need for clear communication, prioritizing pace over perfection, and advocating for users within technology constraints.

Lessons learned
  • Establish clear communication channels for short engagements.
  • Prioritize functionality then visuals; remain nimble and iterative.
  • Advocate for users when presented with technology constraints.
Potential next steps
  • Deep analysis on drop-off rates to discover improvement opportunities.
  • Accessibility testing for microinteractions like document upload.
  • Service blueprint for the underwriting process to identify streamlining opportunities.

PPP Loan Application Rapidly delivering digital application for Small Business Lending during COVID-19 pandemic

CDO Priority Set expectations for brevity (15 min), establish credibility, preview your direct leadership impact. Say Your title, company context, the business problem scale. Emphasize "I led" statements, quantifiable scope (users, teams, timeline). Avoid Generic team language—focus on YOUR role/decisions.

Context The Challenge
  • Organization KeyBank is a regional bank headquartered in Cleveland, Ohio, providing a range of financial services including personal banking, business banking, and wealth management.
  • Problem Limited loan funds and high demand required rapid queuing and tracking while minimizing support overhead
  • Scope Invite-only Paycheck Protection Program application serving 28K+ small business, commercial, and institutional clients
  • Timeline 2018 - 2020
  • Role UX Lead

CDO Priority Demonstrate strategic context awareness—why this mattered to the business. Say Root cause (acquisitions, tech debt, org structure), business cost/impact, constraints that made it hard. Emphasize Why YOU were brought in, executive stakes, urgency. Keep under 60 seconds.

Context My Role & Impact

  • Design Leadership Defined requirements and designed interactive flows for invite-only PPP application

  • Research & Strategy Learned from production data and user feedback to iterate in short cycles

  • UX Design Designed wireframes and prototypes for application flow and loan progress tracker

  • Communication Design Created automated email communications and dynamic status page to reduce call volume

  • Measurable Impact 91% click-through rate, $8B in loans distributed, ranked

CDO Priority Prove you led hands-on AND strategically. Say Specific actions YOU took (audited, designed, trained), tactical deliverables with YOUR fingerprints. Emphasize Leadership evolution—IC work that built credibility → process/systems you established. Connect metrics to your decisions. CDOs want to see agency, not task completion.

Research What We Discovered

  • Production Data Analysis Evolving program requirements required rapid pivots throughout design and development

  • Customer Call Analysis Loan processing scale and communication were primary pain points for applicants

  • Drop-off Metrics Transparent status communications reduced inbound support volume

  • Time Constraint No opportunity for full testing—relied on production data and calls to iterate

  • Key Insight Retrofitting existing enrollment framework with progress tracker would increase completion and reduce calls

CDO Priority Show research rigor led to strategic insights, not just findings. Say Methods YOU used (interviews, audits, synthesis), key insight that changed the approach, how you reframed problems to leadership. Emphasize User empathy, business risk/opportunity, influencing up. 1 memorable story > 5 data points.

Exploration Approach

Custom Application Build

Build new application from scratch—timeline too short (one week)

Adapted Framework (Selected)

Leverage existing enrollment framework and add PPP-specific requirements—fastest path to delivery

Manual Processing

Process applications manually—wouldn't scale to demand

CDO Priority Demonstrate design thinking—explored multiple paths, made informed trade-offs. Say Why each approach failed/succeeded, YOUR criteria for selection, what you personally built/designed. Emphasize Strategic architecture decisions (tokens, systems thinking), balancing user needs vs. business constraints. Show prototyping rigor, not perfection.

Process Critical Design Decisions

Existing Framework Leverage

Evaluated and adapted current systems to support PPP-specific application requirements

Loan Progress Tracker

Introduced status tracking and email communications for transparency

Invite-Driven Enrollment

CRM-based invitation system to manage first-come, first-served queuing

Agile Iteration

Prioritized functionality first, iterated based on live data and feedback

Why these mattered One-week turnaround for initial delivery while requirements continued to evolve

CDO Priority Prove you make principled decisions under ambiguity. Say Each decision's rationale, what you traded off, how decisions connected to research insights. Emphasize YOUR convictions (why you fought for X), where you adapted based on feedback. Focus on 2-3 decisions that show strategic maturity. CDOs value judgment over process.

Outcomes What Worked

  • Rapid Delivery Delivered functional application in one week under evolving requirements

  • Learning in Production Used customer calls and live data to inform rapid iterations

  • Transparent Comms Automated status emails reduced call volume and improved applicant confidence

  • Agile Partnership Close collaboration with development enabled rapid pivots

  • Result 91% click-through rate across 28K+ applications, $8B distributed, ranked

CDO Priority Show execution + change management skills. Say Specific tactics YOU ran (workshops, partnerships, pilots), how you drove adoption without authority. Emphasize Building coalitions, creating internal champions, adapting when initial plans failed. Mention systems/frameworks you created that others could replicate. CDOs hire multipliers, not doers.

Learnings What Didn't Work

  • Initial Communication Strategy First email templates too complex—simplified language based on customer feedback

  • Accessibility Testing Limited time prevented full accessibility testing—should be addressed in future iterations

  • Key Learning Short-term, high-velocity work requires prioritizing pace over perfection while maintaining quality bar

CDO Priority Demonstrate self-awareness and learning agility—critical for senior roles. Say 2-3 failures YOU owned, what you learned, how you pivoted quickly. Emphasize Personal accountability ("I pushed too hard," "I bottlenecked"), data-informed corrections, humility. CDOs respect vulnerability + action. Never blame team/stakeholders—show ownership.

Reflection Key Lessons

  • Lesson 1 Establish clear communication channels for short engagements

  • Lesson 2 Prioritize functionality then visuals—remain nimble and iterative

  • Lesson 3 Advocate for users when presented with technology constraints

  • Lesson 4 Learning in production is valid when timeline doesn't allow full testing

CDO Priority Synthesize insights into transferable principles—show you build repeatable systems. Say 3-5 lessons that transcend this project, how they'd apply to new contexts. Emphasize Strategic maturity ("systems > heroes"), process innovations you'd bring to their org. Connect lessons to CDO concerns scaling design, org transformation, cross-functional influence.

Results Impact

#7

Ranked in nation for PPP loan distribution

91%

Click-through rate across 28,000+ applications

$8B

In loans distributed to small businesses

Qualitative Impact Rapid delivery under extreme constraints enabled KeyBank to serve small businesses during critical pandemic period

CDO Priority Quantify business value in their language—this is THE slide that matters. Say How metrics were measured (methodology = credibility), before/after comparison, financial impact. Emphasize Metrics tied to YOUR decisions/work, exceeded goals (show ambition), qualitative transformation. Spend 90 seconds here. CDOs fund impact, not activity. Always tie to revenue/cost/risk.

Future What's Next

  • Next Steps Deep analysis on drop-off rates and accessibility testing for microinteractions

  • What I Learned How to deliver quality work under extreme time pressure while advocating for users

  • What I Bring Ability to prioritize ruthlessly and execute rapidly without sacrificing user needs

CDO Priority Connect past success to future value for THEIR org. Say Proof of sustainability (what happened after you ), transferable capabilities you demonstrated. Emphasize Leadership philosophy, comfort with ambiguity, what you'd bring to their specific challenges. Close with confidence "This taught me to [capability], which aligns with your [need]."

Discussion Questions & Deep Dives

I'm happy to discuss rapid delivery strategies, learning in production, or designing under constraints.

What aspects of high-velocity design would you like to explore further?

CDO Priority Invite engagement, show depth without overwhelming. Say "Happy to elaborate on [their concern]—design process, stakeholder dynamics, technical decisions." Emphasize You have more depth than shown, you're collaborative and open. Read the room If early (13 min), offer areas to expand. If late (16 min), offer Q&A only. Demonstrate executive presence.

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