Why has Desjardins Group's mobile banking app seen a 15% drop in active users over the past month?

Introduction

The recent 15% drop in active users for Desjardins Group's mobile banking app over the past month is a significant concern that requires immediate attention and a thorough root cause analysis. As we delve into this issue, we'll follow a structured approach to identify potential causes, validate hypotheses, and develop both short-term and long-term solutions to address the decline in user engagement.

Step 1

Clarifying Questions (3 minutes)

• Looking at the timing, I'm thinking there might be a seasonal component. Has this drop coincided with any particular events or time of year?

Why it matters: Seasonal patterns could explain temporary fluctuations. Expected answer: No significant seasonal events noted. Impact on approach: If seasonal, we'd focus on cyclical user behavior patterns.

• Considering user segments, I'm curious about the distribution of the drop. Is the 15% decrease uniform across all user groups, or are certain segments more affected?

Why it matters: Identifying specific affected groups could pinpoint targeted issues. Expected answer: The drop is more pronounced among younger users. Impact on approach: We'd investigate features or changes that might disproportionately affect younger demographics.

• Thinking about recent changes, have there been any significant updates or new features rolled out in the past 1-2 months?

Why it matters: Recent changes could directly impact user engagement. Expected answer: A security update was implemented last month. Impact on approach: We'd scrutinize the security update's impact on user experience and functionality.

• Regarding competitive landscape, have there been any notable moves from other financial institutions or fintech companies in the past month?

Why it matters: External competitive factors could influence user behavior. Expected answer: A major competitor launched a new rewards program. Impact on approach: We'd analyze our app's value proposition compared to new competitive offerings.