Retaining creditworthy users
Retaining Credit card rejected users
Most of the credit worthy users get rejected in the application stage and that leads to multiple painpoints that users experience.
Problems
Users having good credit score were getting rejected due to multiple factors but they were not aware of those thus lashing out on review platforms about it.
Users felt that Kiwi are not working good enough for them
Why retain these users?
To serve them again with a credit card when they become eligible again.
Cross sell and upsell new products
What were they feeling?
At the time of rejection users felt frustrated, angry & hopeful (we need the card somehow).
Felt like this is the end of the painfully long credit journey they have
They felt the need to be compensated after doing such a long process
How that feeling was tackled?
Product
Need to compensate them with benefits similar to credit card i.e. “Benefits of credit card without credit card”
Give them some products similar to carded users i.e. Loan, House Rent, Free Credit score check etc.
Make them feel they are being treated the same way like the credit card users do
Give them a feeling of premium ness in Kiwi
Design
Flow
Rejection
Value prop
Opt-In
Link account
sees nudge
Solution
Impact
70% of the rejected users engaged with the solution
41% of the engaged users made their 1st UPI transaction.