how would you measure the success of kuda bank's mobile app?

Introduction

Measuring the success of Kuda Bank's mobile app requires a comprehensive approach that considers various stakeholders and metrics. To effectively evaluate this digital banking product, I'll follow a structured framework covering core metrics, supporting indicators, and risk factors while considering all key stakeholders.

Step 1

Product Context (5 minutes)

Kuda Bank's mobile app is a digital banking platform that allows users to perform various financial transactions, manage their accounts, and access banking services without visiting a physical branch. Key stakeholders include:

1. End users (customers)
2. Kuda Bank (the company)
3. Regulators
4. Investors
5. Partners (e.g., payment processors, credit bureaus)

The user flow typically involves:

1. Onboarding: Users download the app, register, and verify their identity.
2. Account management: Users can view balances, transaction history, and manage settings.
3. Transactions: Users can transfer money, pay bills, and make purchases.
4. Additional services: Users can access loans, savings products, and customer support.

This app is central to Kuda Bank's strategy as a digital-first bank, aiming to provide accessible, affordable banking services to a broad audience. Compared to traditional banks' apps, Kuda's offering often boasts a more user-friendly interface and lower fees.

In terms of product lifecycle, Kuda's app is in the growth stage, having established a solid user base but still expanding rapidly and iterating on features.

Software-specific context:

• Platform: Native mobile apps (iOS and Android) with a web app version
• Integration points: Payment gateways, credit scoring APIs, regulatory reporting systems
• Deployment model: Regular updates through app stores, with backend changes deployed continuously