An AI-powered fin-tech platform, that uses its robust technology to ensure the smart investing of its user

Problem Statement

The key stakeholders of Fisdom decided to launch a new portfolio brand MyWay, for a specific category of their users. The target audience of MyWay is a more sophisticated set of users who are busy personals with average or more financial literacy. 
The product team of fisdom saw unusual drop-offs rate after the acquisition. We get into the picture to optimize the drop-off rate post-acquisition. The purpose was to drive users from acquisition to the end of the conversion funnel.

Lead Acquisition
Stage 1
   KYC Verification
Stage 2

Identifying Customers Pain Point

Being a fin-tech company, the process requires confidential data such as Bank Details from the users for the verification. We identified that this step was the bottleneck in the overall process.

Security & Trust
Time taking process

While collecting confidential pieces of information, it was crucial to signal the user about the Financial Security and Data Security measurements of the platform.

Understanding Identified Stages

Stage 1

Due to lack of data, we cannot differentiate b/w the KYC verified and non-verified user. The range of the users varied from a user who doesn’t have any financial literacy about the Mutual fund to the set of investors who are familiar with the entire process.

Key Takeaways

The information should be:

1. Informational and sound secure for the first time user to trust

2. Option to move forward in the funnel for the users who are aware of the entire process

Stage 2

In this stage, user’s KYC is verified. Here we able to distinguish between users who have already invested and the new users.

Key Takeaways

The information should be Customized to cater both the users

Applying BJ Fogg’s Behaviour Model to make the user take action

Motivation (M), the incentive that inspires a user to take action

Ability (A), simplicity factor. The ease with which users can take action

Trigger (T), Trigger (T), clear CTA defining what action is required to be taken by the user.

Here, in the case of MyWay, the App provides access to the user where user can upload the required documents for the verification and move to the next funnel. 
Therefore, the ability was not a major concern. Similarly, there were enough CTAs provided at each step which direct user towards the next step. 
Given that, there were enough ability and trigger, motivation might be the reason for losing out the users.

Identified MAT’s (Sample)

Defining Timeline for User

The target audience mostly belongs to the working segment. Reaching them at the right time was crucial. Based on the App install time, the micro-moments were identified for the timely delivery of communication. 

Post KYC verification

After collecting KYC data, further engagement of users becomes vital. 
At this stage, the user journey is defined to keep the audience engaged. Providing them with information that would help them in decision making and feel secure at each step with an expert decision.

Communication Sample


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