How would you measure the success of Deposit Solutions's Savings Marketplace platform?

Introduction

Measuring the success of Deposit Solutions's Savings Marketplace platform requires a comprehensive approach that considers multiple stakeholders and metrics. To address this product success metrics challenge, I'll follow a structured framework covering core metrics, supporting indicators, and risk factors while considering all key stakeholders.

Step 1

Product Context

Deposit Solutions's Savings Marketplace is a fintech platform that connects banks offering attractive interest rates with customers seeking better returns on their savings. The platform serves two primary stakeholders:

1. Savers: Individuals looking for higher interest rates on their deposits
2. Banks: Financial institutions aiming to attract deposits and diversify their funding sources

The user flow typically involves:

1. Savers browsing available offers on the marketplace
2. Comparing interest rates and terms
3. Selecting and opening an account with their chosen bank
4. Transferring funds to the new account

For banks, the process includes:

1. Listing their savings products on the platform
2. Managing their offers and rates
3. Onboarding new customers acquired through the marketplace

This platform aligns with the company's strategy of disrupting traditional banking by creating an open architecture for the savings market. Compared to competitors like Raisin, Deposit Solutions focuses more on white-label solutions for banks.

The product is in the growth stage, having established its core functionality and now focusing on expanding its user base and bank partnerships.