Jobs to be Done (JTBD)
for Other credit granting (ISIC 6492)
In a sector where credit products can easily become commoditized (MD03), JTBD provides a critical differentiator. It shifts the focus from 'what' credit products are offered to 'why' customers seek them, enabling a deeper understanding of customer needs beyond superficial preferences. This is...
Why This Strategy Applies
A methodology for understanding the functional, emotional, and social 'job' a customer is truly trying to get done, which leads to innovation opportunities.
GTIAS pillars this strategy draws on — and this industry's average score per pillar
These pillar scores reflect Other credit granting's structural characteristics. Higher scores indicate greater complexity or risk — see the full scorecard for all 81 attributes.
What this industry needs to get done
When a non-traditional borrower seeks funding, I want to accurately assess their creditworthiness using alternative data, so I can extend credit responsibly and expand my market reach.
Traditional credit models often fail to adequately evaluate non-standard applicants, limiting access for many and constraining market growth due to the difficulty in differentiating beyond price (MD03) and reliance on established intermediaries (MD05: 4/5).
- Non-performing loan ratio for new segments
- Approval rate for alternative data applicants
When facing urgent business or personal needs, I want to access capital quickly and reliably without excessive paperwork or delays, so I can seize opportunities or mitigate immediate risks.
Current processes often involve significant friction and time delays, which are exacerbated by ambiguous unit definitions in applications (PM01: 2/5) and a general commoditization of offerings (MD03) that prioritizes cost over speed and convenience.
- Time from application submission to fund disbursement
- Application abandonment rate due to process complexity
When managing a diverse portfolio of credit products across various channels, I want to efficiently onboard new customers and disburse funds, so I can scale operations and reduce processing costs.
The complexity of structural intermediation (MD05: 4/5) and diverse distribution channels (MD06: 4/5) often leads to fragmented and inefficient onboarding processes, increasing operational overhead and impacting customer experience.
- Average customer onboarding time
- Cost per loan origination
When a borrower defaults, I want to efficiently recover outstanding funds through established legal and collection processes, so I can minimize financial losses and maintain portfolio health.
While established recovery processes exist, they are often resource-intensive and can be further complicated by structural intermediation (MD05: 4/5) and the need to navigate varied regulatory landscapes (CS04: 3/5).
- Recovery rate on defaulted loans
- Average cost of collection per defaulted loan
When I need to comply with evolving regulations across different jurisdictions, I want an integrated system for tracking and reporting compliance data, so I can avoid penalties and maintain my license.
Ensuring continuous compliance with rigid ethical and religious standards (CS04: 3/5) and managing varying data definitions (PM01: 2/5) across different product lines creates ongoing operational challenges for credit grantors.
- Incidence of regulatory fines or penalties
- Audit readiness score
When interacting with diverse communities, I want to cultivate a reputation as a fair and inclusive lender, so I can attract underserved segments and build long-term community relationships.
The risk of social displacement and community friction (CS07: 4/5) and the need for ethical compliance (CS04: 3/5) mean that lenders must actively work to counter negative perceptions and build trust in their operating environments.
- Community trust index score
- Proportion of underserved segment customers
When presenting my financial products, I want to communicate terms and conditions with utmost clarity and transparency, so I can build customer trust and avoid accusations of predatory practices.
Unit ambiguity and conversion friction (PM01: 2/5) in product descriptions, coupled with intense price competition (MD03), can lead to opaque terms and erode public trust, risking social activism (CS03: 3/5).
- Customer complaint rate regarding terms clarity
- Net Promoter Score (NPS) related to transparency
When evaluating new market opportunities or product innovations, I want to feel confident in my strategic decisions, so I can allocate resources effectively and differentiate in a competitive landscape.
The 'Other credit granting' sector faces intense price competition and difficulty differentiating (MD03), leading to uncertainty about which investments will yield true competitive advantage and sustainable growth.
- Return on Investment (ROI) of new product launches
- Market share growth in niche segments
When managing my personal or business finances, I want to feel a sense of control and stability, especially when borrowing, so I can plan for the future without undue stress.
The complexity and potential for hidden costs in some 'Other credit granting' products (PM01: 2/5) can create anxiety and a lack of control, undermining the borrower's fundamental need for financial peace of mind.
- Customer retention rate for long-term products
- Financial literacy improvement among borrowers
When designing credit products for vulnerable populations, I want to ensure they are genuinely empowering and not exploitative, so I can align my business practices with ethical values and internal purpose.
High social displacement (CS07: 4/5) and the rigidity of ethical compliance (CS04: 3/5) create a constant tension between profitability and the desire to act responsibly, requiring careful product design and internal conviction.
- Employee satisfaction score related to ethical alignment
- Public perception index of company ethics
Strategic Overview
The 'Other credit granting' industry is highly competitive and often commoditized, leading to 'Intensified Price Competition' (MD03) and 'Difficulty in Differentiating Beyond Price' (MD03). The Jobs to be Done (JTBD) framework offers a powerful lens to move beyond traditional product features and customer demographics, enabling credit grantors to uncover the fundamental problems customers are trying to solve when seeking credit. By focusing on these underlying 'jobs,' firms can design truly innovative, customer-centric financial solutions that resonate deeply, foster loyalty, and create unique market positioning.
Applying JTBD helps credit providers understand the functional, emotional, and social dimensions of a customer's need for capital. For instance, a small business loan isn't just about funds; it might be about 'getting my business to the next growth stage without losing control' or 'securing my family's future'. Similarly, a personal loan might be 'achieving a significant life event responsibly' rather than just 'borrowing money'. This approach guides the development of holistic product bundles that include not only the loan itself but also supportive services, flexible terms, and frictionless processes, addressing 'Evolving Customer Expectations' (MD01) and 'Maintaining Competitiveness Against Digital Innovators' (MD01).
4 strategic insights for this industry
Beyond Capital Provision: Enabling Life Milestones
Customers don't just 'need money'; they need to 'buy a house', 'start a business', 'fund education', or 'consolidate debt for peace of mind'. The functional job of receiving funds is often intertwined with emotional jobs like 'feeling secure', 'achieving aspirations', or 'reducing stress'. Understanding this allows providers to position credit as an enabler of life milestones, addressing 'Evolving Customer Expectations' (MD01).
Credit as a Solution for 'Getting Things Done'
For businesses, credit might be a 'job' to 'optimize cash flow for seasonal demand', 'invest in new equipment to stay competitive', or 'manage payroll efficiently'. A small business loan is not just capital, but a means to 'keep my business thriving and growing' (MD08). Product design should reflect this operational necessity, offering flexibility and integration.
Frictionless Experience for the 'Job of Accessing Funds Quickly'
The 'job' of 'getting access to funds quickly and reliably when needed' is paramount, especially when faced with urgent financial needs. Any friction in the application, approval, or disbursement process (PM01, MD06) represents a failure to perform this job well. This insight highlights the need for seamless digital processes and transparent communication, addressing 'Maintaining Competitiveness Against Digital Innovators' (MD01).
Addressing Social & Ethical 'Jobs'
Customers, particularly younger demographics or those in specific communities, may have social 'jobs' like 'borrowing responsibly without harming my community' or 'aligning my finances with ethical values' (CS07, CS04). This implies opportunities for green loans, community development financing, or transparent, socially responsible lending products that align with borrower values, mitigating potential 'Reputational Damage & Regulatory Scrutiny' (CS07).
Prioritized actions for this industry
Conduct extensive qualitative research (e.g., in-depth interviews, ethnographic studies) to identify the core functional, emotional, and social 'jobs' customers are hiring credit for, specifically in underserved or emerging segments.
Provides deep insights into unmet needs beyond surface-level demographics, crucial for 'Identifying Untapped Growth Niches' (MD08) and designing truly differentiated products to combat 'Difficulty in Differentiating Beyond Price' (MD03).
Redesign existing credit products and develop new ones as 'solution bundles' that address the complete job, not just the capital component. For example, a 'Small Business Growth Job' solution could bundle a loan with business planning tools, financial literacy modules, and access to mentorship.
Creates significant differentiation, addresses 'Evolving Customer Expectations' (MD01), and provides holistic value, moving beyond mere interest rates to capture customer loyalty.
Optimize the entire customer journey, from awareness to repayment, to reduce 'friction' points that prevent customers from 'getting the job done' smoothly and efficiently. Prioritize digital self-service tools and transparent communication.
Direct response to the 'job' of 'accessing funds quickly and reliably' and crucial for competing with digital innovators (MD01). Addresses 'High Customer Acquisition Costs' (MD06) by improving conversion and retention.
Develop and market credit products that explicitly align with ethical and social 'jobs,' such as 'sustainable living loans' or 'community impact credit,' targeting segments with strong social or environmental values.
Creates a strong brand narrative and market niche, addressing 'Reputational Damage & Regulatory Scrutiny' (CS07) by proactively engaging with social concerns, and appealing to 'Evolving Customer Expectations' (MD01) for responsible finance.
From quick wins to long-term transformation
- Map out key customer journeys for existing products to identify immediate friction points (e.g., unclear application forms, slow response times).
- Conduct internal workshops to train teams on the JTBD mindset, shifting focus from features to customer outcomes.
- Launch a pilot program for a bundled offering, testing value-added services alongside a standard loan product.
- Integrate JTBD insights into the product development lifecycle for all new offerings.
- Develop comprehensive customer personas based on 'jobs,' not just demographics, to guide marketing and sales.
- Invest in technology for personalized communication and proactive problem-solving based on identified jobs.
- Realign organizational structure and incentives around customer 'job satisfaction' rather than just product sales.
- Establish a continuous feedback loop and innovation pipeline driven by evolving customer jobs.
- Become recognized as a leader in solving specific customer jobs, creating defensible market positions.
- Confusing 'jobs' with features or solutions (e.g., 'I need a mobile app' vs. 'I need to manage my finances on the go').
- Failing to conduct deep qualitative research, relying instead on surveys or internal assumptions.
- Organizational resistance to change from a product-centric to a job-centric view.
- Over-engineering solutions for jobs that are adequately served, leading to increased costs without perceived value.
Measuring strategic progress
| Metric | Description | Target Benchmark |
|---|---|---|
| Customer Job Completion Rate | The percentage of customers who successfully achieve their stated 'job' (e.g., purchased a home, expanded business) with the firm's credit product. | >75% for critical jobs. |
| Net Promoter Score (NPS) / Customer Satisfaction (CSAT) for 'Job Solution' | Measures customer loyalty and satisfaction specifically with how well the firm helped them complete their job. | NPS >50; CSAT >90% for specific 'job solutions.' |
| Product Bundling Adoption Rate | Percentage of customers who opt for bundled credit solutions (e.g., loan + advisory) over standalone credit products. | >20% for new bundled offerings within 18 months. |
| Revenue from Job-centric Products | Revenue generated from products explicitly designed and marketed around specific customer 'jobs.' | >10% of total revenue within 3 years. |
Software to support this strategy
These tools are recommended across the strategic actions above. Each has been matched based on the attributes and challenges relevant to Other credit granting.
Capsule CRM
10,000+ customers worldwide • Includes Transpond marketing platform
Transpond's email marketing and audience tools support proactive brand communication that builds customer loyalty and reduces churn-driven reputational fragility
Cost-effective CRM for growing teams — manage contacts, track deals and pipeline, build customer relationships, and streamline day-to-day work. Paired with Transpond, a dedicated marketing platform for email campaigns and audience management.
Try Capsule FreeAffiliate link — we may earn a commission at no cost to you.
HubSpot
Free forever plan • 288,700+ customers in 135+ countries
Deal intelligence, win/loss analytics, and pipeline data give sales teams the evidence to defend price with ROI proof rather than discounting reactively against commodity competition
All-in-one CRM and go-to-market platform used by 288,700+ businesses across 135+ countries. Connects marketing, sales, service, content, and operations in one system — free forever plan to start, paid tiers to scale.
Try HubSpot FreeAffiliate link — we may earn a commission at no cost to you.
Other strategy analyses for Other credit granting
Also see: Jobs to be Done (JTBD) Framework