Seconds for KYC
Bajaj Finserv is a game-changer in the finance world. Its ‘No-Cost EMI’ is an innovative credit service that helps millions of consumers meet their short-term financial needs. Many such initiatives helped the company grow tremendously in the past decade. Today, Bajaj Finserv is a leader in the Non-Banking Financial Companies (NBFCs) domain. More than 10 Million Indians rely on their apps for services like loans, insurance, mutual funds, shopping, and more.
Digital is the new norm for doing business. Cheaper smartphones, faster data, and a prolonged pandemic has accelerated the digital growth on mobile. Users now expect the best experience from apps. But most incumbents rely on conventional tools and outdated processes to troubleshoot issues and improve the app.
Bajaj Finserv realized a lack of insights after launching their app. Product analytic tools did not yield enough data on digital experience issues. And a largely non-tech savvy user base made it difficult to gather feedback. These limited the capabilities to understand user experience, troubleshoot fast, and optimize conversions. For Bajaj Finserv, the top challenges were:
Identifying Bottlenecks on Conversion Journeys
For troubleshooting user complaints, the team depended on conventional processes like looking at API call logs or calling the customer for a detailed explanation. Reproduction would have made things easy. But it’s challenging to reproduce issues due to the complexity of OS, devices, app versions, and so on.
Moreover, there was no way to understand how issues affected conversion journeys. The crash, ANR, performance... metrics were disjointed from funnel analysis. Thus understanding drop-offs was incomplete due to limited insights on how the app’s functional and performance issues caused them. Below is an elaborate example of this problem.
Analyzing Know Your Customer (KYC) Screen Issues
KYC is a part of user onboarding on Bajaj Finserv’s app. Monitoring this journey for issues is critical. While the team noticed a drop-off on the KYC screen, they did not understand what was going wrong looking at Firebase Analytics. The KYC screen loaded without any performance hiccups. The logs had no functional issues. But drop-offs here meant a revenue loss. If Bajaj Finserv’s team depended on conventional tools and processes, they couldn’t have figured out where the leak was!
When we asked Anshul Jain, the Sr. Lead Software Architect, why they chose UserExperior, his response was, “Our team wants to monitor critical user journeys for any issues. UserExperior seemed to have the potential to tell us exactly what’s bothering our users.”
Initially, Anshul and his team integrated the UserExperior SDK to perform User Acceptance Testing (UAT). Every fresh release is followed by understanding how users interact with the app. They could see what confused users and ship an update faster.
Soon, the team started tracking critical user journeys with UserExperior. The most important use cases for Bajaj Finserv were monitoring conversion funnels for issues and troubleshooting quickly. Let’s look at them briefly:
Uncovering the Reasons Behind Drop-offs
With a few clicks, the team got to know what digital experience issues affected users on their app. Anshul shared three cases where UserExperior could help them:
UserExperior features like Funnels & Heatmaps allowed the team to pinpoint problematic interactions and replay any user session. Plus, setting up alerts helps in reducing detection time in cases like API errors/slowdown, etc. This allows developers to detect and respond fast.
Troubleshooting User Issues in Collaboration
The support, dev, design, and product teams can collaborate with UserExperior to improve the digital experience. At Bajaj Finserv, when users complain about an issue, the support and dev teams can easily understand what was bugging the user. Developers need not over-depend on the crash logs to troubleshoot. And the support team can reduce the dependence on asking annoyed non-tech savvy users to send more information on the issue. Teams looked at UserExperior to get clarity on user complaints and were able to resolve them in collaboration.
UserExperior could modernize the conversion optimization and troubleshooting processes at Bajaj Finserv. The team moved from analyzing through disparate metrics to a holistic digital experience analysis. We’ve categorized the impact into these core outcomes:
Continuously Optimizing Conversions
Bajaj Finserv now has a continuous feedback loop for their app’s digital experience. UserExperior allows them to lower dependence on asking users whether it's for UATs, feedback, or getting more information on an issue.
KYC in Less than 7 Seconds
Anshul said, “Users took 20+ seconds to complete the KYC. We then saw heatmaps and session replay data on UserExperior to learn how the date picker functionality was confusing users while adding their date of birth. After shipping an update we could see that users took less than 7 seconds to complete the KYC!” A seemingly small design fawl that could have flown under the radar with conventional tools was detected by UserExperior.
3x Faster Troubleshooting
All stakeholders like the dev, design, support, and product team members can now have access to a single source of information where they can easily collaborate to troubleshoot issues. They could use features like funnels, heatmaps, and session replay to 3x troubleshoot faster than before.
“UserExperior reveals the invisible user pain points. It has helped us in reducing drop-offs from crucial conversion funnels. Would highly recommend any team looking for a digital experience monitoring tool.”
Sr. Lead Software Architect, Bajaj Finserv
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