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In September 2023, Ubank was successfully attracting new customers - but there was a problem. Less than 30% of new customers were making regular transactions after 90 days.
Despite strong marketing campaigns bringing people in, most people either took weeks to start using their account or never used it at all. And while we had a large back-book of customers who used our saving accounts, they weren't discovering the full value of features we'd designed to help them get ahead with money including innovative features like expense forecasting that could help lower income users feel more confident about their finances between pay-days. Without regular transactions, customers would miss out on discovering these tools that could genuinely improve their financial wellbeing.
I led a project to solve this activation challenge: How could we help customers go from simply having accounts to actually using Ubank as their primary banking app.
To comply with my non-disclosure agreement, I have omitted and obfuscated confidential information in this case study. All information in this case study is my own and does not necessarily reflect the views of ubank.
Key screens from ‘3. Achievement Framework’
In September 2023, ubank's customer activation metrics told a clear story: the gap between account creation and active usage was too wide. Nearly a third of all accounts lay dormant, while just 29% of customers were regularly transacting. At Ubank, dormant customers are defined as showing no account activity for more than 3-months, whereas transacting customers made at least 5 purchases every month.
The path to becoming an engaged transacting customer was fraught with friction:
Our lack of customer activation hinted at a lack of clear actionable steps upon landing on the app dashboard.