New credit journey at Kotak Bank
Overview
Kotak Mahindra Bank Limited is a leading banking and financial services provider based in Mumbai, India. Helping to both corporate and retail customers, it offers a wide range of products and services including personal finance, investment banking, life insurance, and wealth management.
Imagine you're a customer of Kotak Mahindra Bank, eager to transfer your balance through your credit card seamlessly. Simultaneously, the bank aims to offer personalised loan opportunities exclusively to eligible users. This dual challenge sets the stage for a compelling journey to enhance user engagement and business engagement.
User Challenge
Picture yourself in the shoes of a customer navigating the complexities of transferring balance through your credit card. It's not just about the transaction; it's about convenience and ease of use. How can the bank simplify this process to meet your needs effortlessly?
Business Challenge
Now, looking at the bank's perspective, striving to facilitate balance transfers and leverage credit card data intelligently. The aim? To extend personalised loan offers to eligible users, maximizing both customer satisfaction and business revenue.
In this case study, I delve into two critical issues apart from refining the homepage. I explored the fallback of credit card engagement, addressing user frustrations and unlocking new opportunities for the business.
Client
Kotak Mahindra
Category
Fintech, B2C
Contribution
UX Research, UI Design, Responsive Design, Design Handoff
Team
1 × product designer, 1 × product manager, 2 × engineers
Year
2021
Impact
1. 60% increase in the frequency of users ranging from 18 to 40 years.
2. Customer satisfied easy-to-use Personal Loan Credit Card.
3. Mobile app usage potentially reduced bounce rate by up to 62%.
Process
I started by looking at what other companies were doing to see how I could do better. Then, I sat down with our team and other important people to figure out the most important things our users needed. After that, I talked to 5 real users to understand what they liked and what they found difficult.
Next, I planned how all the information would be organised so users could find it easily. I drew rough sketches to visualise the ideas before making detailed designs. I worked on making designs that were easy for users to understand and also helped our business.
I made sure that our designs worked well on phones and tablets resposnive, so everyone could use them easily. Finally, I did design handoff to the developers so they could bring our designs to life.
Throughout all of this, I collaborated a lot with stakeholder to make sure everything I did was what the users really needed and wanted.
Outcome
This undertaking provided significant insights into the realm of Credit banking . It presented an amazing challenge, allowing me to serve the demands of its users. The user interface gathered immense praise from its users, and thanks to great user research, the general interaction and great seamless flow of personal loan on credit card, navigation of balance transfer, and other credit management journey.
