what metrics would you use to evaluate kuda bank's savings feature?

Introduction

Evaluating Kuda Bank's 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 view of the feature's performance and impact.

Step 1

Product Context

Kuda Bank's savings feature is a digital banking tool designed to help users set aside money and grow their savings. It likely includes functionalities such as:

• Automated savings plans
• Goal-based savings
• Interest accrual
• Flexible withdrawal options

Key stakeholders include:

1. Users (individual savers)
2. Kuda Bank (the company)
3. Regulatory bodies
4. Investors

User flow:

1. Account setup: Users create a savings goal or select a savings plan.
2. Funding: Users transfer money into their savings account, either manually or through automated deposits.
3. Management: Users track progress, adjust goals, and manage their savings.
4. Withdrawal: Users access their funds when needed or upon reaching their goal.

This feature aligns with Kuda Bank's broader strategy of providing comprehensive digital banking services and promoting financial wellness among its customers. It likely competes with traditional banks' savings accounts and other fintech savings apps in the Nigerian market.

In terms of product lifecycle, the savings feature is probably in the growth or maturity stage, depending on how long it has been available and its adoption rate among Kuda Bank users.