Finhay Bag
Boost 85% Intra-day conversion rate by continuously delivering test based on real data. Finhay Bag becomes a core solution in Finhay platform.
Introduction
First impressions of this project
Why we start?
The first-time cash-in rate is one of our key metrics, and now we aim to further enhance it. The project's goal is to aggressively increase this rate through research and UX improvements.
My role
🔎 Research
🔀 Userflow
📱 Design
Research
Conduct research to identify problems in the user experience.
Synthesis
Summarize relevant data from Interviews & Usability Testings that Product Design team has conducted.
🗂️ 05 research
👤 40+ users
Analysis
Refer to recognized UX laws. Match them with current experience in the application through observed data history.
🗂️ 03 research
👤 1M+ users
Problem statements
💬 I don't know where to start
💬 I'm confused by the lengthy cash-in process
💬 I can’t get the product introduction
💬 I'm overwhelmed by extensive offers
💬 etc.
Ideation
Discuss the most optimal idea & implemetation for available capacity.
Constraints
We have distinct resource and time constraints that make it challenging to dramatically increase the first-time cash-in rate.
🗓️ 03 months
👥 08 members
Decisions
We decided to continuously deliver tests in short intervals. A/B Testing was chosen because it was optimal for testing each hypothesis related to user decisions. Given the size of the current system, the number of users was sufficient to measure and draw conclusions after a few days.
🆎 A/B Testing
🚀 05-day sprint
Test
Discuss the most optimal ideas and implementation for the available capacity with the development team.
Summary
In each sprint, a session will take place & consists of 03 components.
ℹ️ Hypothesis: Starting point for the test session
📱 Solution: Structural description of 02 versions
📃 Result: Test session result & learned lesson
Key metric
The Intraday first-time cash-in rate (X) is the chosen one.
Because of information security, this case study will share the growth rate instead of the specific value of this metric 🤫
Session 1
I don't know where to start 💬
Hypothesis
By seeing Deposit button at the first-time access, more users will deposit.
Session 2
I'm confused by the lengthy cash-in process 💬
Hypothesis
The fewer actions required, the more users will deposit.
Session 3
I can’t get the product introduction 💬
Hypothesis
The more consise product introduction is, the more users will deposit.
Session 4
I can’t get the product introduction 💬
Hypothesis
The fewer options shown, the more user will deposit.
Test
After Session 4
After S4, we closed the project and applied learned lessons to developing a complete version.
Conclusion
Of the entire Finhay Bag project
By continuously delivering test based on real data, the Intraday Cash-in rate has increased by up to 85% from the baseline.
🗓️ 45 days
👥 07 members
🧪 4 test sessions
Intramonth Cash-in rate
In addition, the Intramonth Cash-in rate also increased by 50% from the baseline because of the positive influence of the project.
And Cash Account…
Cash Account (renamed Finhay Bag) becomes a core solution in our finance platform.
Copyright © 2024 Phucph. All Rights Reserved.
Hanoi, Vietnam