Potential Improvements/Iterations:
More detailed info about loan disbursements
After talking with customer support, we learned that we still had an important number of complaints regarding loan disbursement time. This was due to the banks’ processes which we didn´t have control. Trust was a key element of the strategy so we wanted to be fully transparent with our users about when they were supposed to receive the money in their accounts depending on the time they were requesting it. This is an example of the solution.
Chatbot should also respond to the customer journey (To be done)
By integrating APIs, the bot can dynamically adjust its responses based on the user's journey stage, ensuring relevant and timely assistance. This tailored approach enhances the user experience, increasing the likelihood of delivering accurate answers promptly and creating positive interactions that impress users. For example for new users the most likely questions are about Kashin as a company, problems with the loan disbursement, and how to pay a loan. On the other hand, for a user who is at the stage of paying the first installment the most likely questions are how to pay, where to validate the payment, when is the payment is going to be validated
Simplify first-time experience
"We recognize that our users' initial experience with our app can be daunting, especially when requesting a loan for the first time. Many users face fears, doubts, and a high cognitive load, particularly due to low financial literacy. While we've taken steps to alleviate fear and doubt through improved UX/UI and positioning, we've identified an area for improvement in reducing cognitive load.
"We recognize that our users' initial experience with our app can be daunting, especially when requesting a loan for the first time. Many users face fears, doubts, and a high cognitive load, particularly due to low financial literacy. While we've taken steps to alleviate fear and doubt through improved UX/UI and positioning, we've identified an area for improvement in reducing cognitive load.
Through conversations with customers, we've learned that many view the first loan as a 'test loan' to validate our promises. This insight presents an opportunity for us to simplify the process by offering a reduced set of options during the initial experience. By doing so, we aim to ease users into our product and build their confidence gradually. Once users become more comfortable, we can then introduce the full range of features and options, enhancing their overall experience."
Two onboardings
"Currently, our onboarding experience caters to both our main customer personas equally. However, we recognize the potential to enhance the product's personalization for these segments. For instance, if we identify a customer as a solo entrepreneur, we can tailor the experience to highlight benefits such as fast loan disbursement or short-term affordable loans. Additionally, we can request additional information for our credit models, as this group typically exhibits a higher willingness to provide data. Moreover, we can offer access to more funding options than our standard solution, catering to the unique needs and preferences of solo entrepreneurs."
