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"Growing a Bank from Scratch" with the Growth team @N26
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Transcript of "Growing a Bank from Scratch" with the Growth team @N26
» Growth @ N26 «The Family, Berlin
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December 2017
#TheMobileBank
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Aka h S h Product Owner, Growth
Bla g oExperience Designer, Growth
#TheMobileBank
TodayN26
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First mobile bankin Europe
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Coming soonActive Countries
Live in 17 countries
550ku s e r s
>
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Paperlessaccount opening
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Real-timebanking
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One click access to financial products
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Lower CACsSuperior user experience
Scalable organizationNo branches
Banking across bordersLive in 17 countries
No IT legacyMost modern tech infrastructure
Competitiveadvantage
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Growth teamWhat do we do
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Drive conversion
We are working towards getting people to become financially active customers
Make it easier for people to get the best N26 experience
Our goal is to give people a taste of what the entire N26 experience looks like with the first touch points they have with us.
Acquisition channels Signup form
Organic
Paid
Referral
Others
Confirm email Select Mastercard Verification Use the bank
€ €
App Store
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User journey
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Work How we work
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Repeat the cycle
Iterate and improve customer experience & business impact
Build lightweight experimentsConduct low effort, high impact tests
Measure successSet clear goals to measure your results against
Identify opportunitiesStart with a hypothesis
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BuildRepeat
Identify
Measure
How we work
Some of our users were not receiving their mastercard’s.
Problem
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Before
All markets
Hypothesis
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Our shipping provider is sometimes not able to identify the correct addresses as entered by the people.
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After
in Germany
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After
in France
Card return rate reduced by approximately 30% by making this small change in the address form field thus reducing the number of cards returning to N26.
Result
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[ Photo of Bea sorting cards ]
Our success metric was the happiness of this person and the less number of cards she has to sort out
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Cards being returned to N26 due to the shipping address not being correctEx. Postal code in Germany is always 5 digits, and sometimes people have typo’s, which cause the cards to return to us.
#Iteration 1
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implementing Google Maps Geolocation API
After
A lot of N26 customers are expats, people who move to Europe from different parts of the world. They have different ways of entering their addresses and always might not be aware of what is the correct way in a new city
#Iteration 2
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After
adding a note field in Germany and France
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Inflection point in Growth
Looking for opportunities
Acquisition channels Signup form Confirm email Select Mastercard Verification Use bank account
€ €
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User journey
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Identify opportunities
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Users were finding it difficult to enter their phone number.
Problem
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“Don’t make me think” refers to the idea that
when a web site makes you stop and think about
what you’re doing, it’s making your life harder, and
perhaps isn’t designed as well as it could be.
Users from different regions have different ways of entering their phone
numbers, which we were not accepting.
Hypothesis
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40%Before
8%After
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Error on phone number entry
Internationalisation doesn’t only mean translations
Takeaway #1
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Users were starting but not completing their verification call and dropping out
Problem
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Intro screen
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Intro screen
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Users weren’t reading the content within the checkboxes and were therefore
not prepared for a successful video call.
Hypothesis
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50 sec video:Open rate <50%
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Before
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Region specific
documentsSpeed testsVideo content Stand alone T/C’s
After
-44%Poor internet connection
-26%User cancellations
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Call failure rate
Don’t focus on moving users from A to B in the fastest way possible if it hinders their
experience
Takeaway #2
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There was a significant delay for people starting the verification call after
choosing their mastercard
Problem
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Switching devices is hard without a seamless experience between them
Hypothesis
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Switching platform is hard, embrace a seamless hand off experience
Takeaway #3
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Focus on building an enjoyable experienceTakeaway #4
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AfterBefore
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Create an experience people can’t wait to tell their friends about
Takeaway #5
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» Our users tell a better story about us
than we do. So let them do that... «
– Brian Chesky CEO, AIRBNB
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Friend referral program
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People can get rewarded for inviting their friends and family to start
using N26.
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AfterBefore
Create an experience people can’t wait to tell their friends about
Don’t focus on moving users from A to B in the fastest way possible if it hinders their experience
Switching platform is hard, embrace a seamless hand off experience
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Recap
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3
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Internationalisation doesn’t only mean translations
Focus on building an enjoyable experience.It matters.
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Questions?
