What metrics would you use to evaluate Attain's automatic savings feature?

Introduction

Evaluating Attain's automatic savings feature requires a comprehensive approach to product success metrics. To address this challenge effectively, I'll follow a structured framework that covers core metrics, supporting indicators, and risk factors while considering all key stakeholders. This approach will help us gain a holistic understanding of the feature's performance and impact.

Step 1

Product Context

Attain's automatic savings feature is a personal finance tool designed to help users save money effortlessly. It analyzes spending patterns, identifies opportunities to save, and automatically transfers small amounts to a dedicated savings account. Key stakeholders include users (who want to increase their savings), Attain (aiming to increase user engagement and retention), and partner banks (seeking to grow deposits).

The user flow typically involves:

1. Onboarding: Users connect their bank accounts and set savings goals.
2. Analysis: The system analyzes spending patterns and income.
3. Automatic Savings: Small amounts are transferred to savings based on the analysis.
4. Monitoring: Users can track progress and adjust settings as needed.

This feature aligns with Attain's broader strategy of empowering users to improve their financial health through technology-driven solutions. Compared to competitors like Digit or Acorns, Attain's feature might offer more customization or integration with other financial tools.

In terms of product lifecycle, the automatic savings feature is likely in the growth stage, with a focus on user acquisition and feature refinement.