Task background
While applying for a Product Lead position at Momo, the super financial app in Vietnam, I was tasked with this exercise:
“MoMo is one of the fastest-growing finance apps, consistently ranking in the top three on the App Store and Google Play. It has connections with over 30 local banks.
However, there are hindrances in the activation phase. We see a significant drop in users from registration to mapping their first bank (around a 50% drop), especially for Agribank, Sacombank, and TPbank. As the Bank Product Owner, your role is to propose a solution that improves the conversion rate of the map bank phase with the following objectives: enhance the user experience to make mapping a bank easier, with fewer errors, and faster.”
Here are the Instruction and Task requirements:
- How would you tackle this challenge?
- Apply design thinking to four stages: Empathize, Define, Ideate, and Wireframe (low-fidelity) for the new user map bank flow.
- Conduct competitor research with at least three mobile banking apps.
- To deliver a proposal with:
- A product objective for the next three months of improvement.
- A feature backlog with clear priorities.
- A user flow or wireframe of the most impactful feature, which you decide.
First I asked a few clarifying questions to make sure I understood it correctly. Then I proceeded to do some quick research on this topic. The outcome was a rough structure/idea on how I would tackle this (all the steps to follow and information to collect).
After everything was clear, I started drafting the ideas on Notion before moving them to Miro. Before jumping to the Miro file, here are a few things to bare in mind:
- Please start from the top (the Problem Statement).
- I used a lot of arrows to represent the connections between ideas. You can use them to trace back why I came up with that point.
- I left a lot of comments to provide more information/explanation. Please take a look at them.
My approach and answer
Firstly, I define a clear Problem statement and requirement for the exercise. After that, I have an ideation to narrow down the problem and root causes
Some assumptions must be made before I jump into the research on Momo and its competitors. In the file (shared below), you can find multiple comments where I explain the context/findings a bit more.
After having the research result, I learnt more about company North Star metrics, and objectives before prioritizing the found problems/ideas and put them into the roadmap.
One feature is then selected to be written in details (success metrics, user flow, and Figma design)
To see my approach in detail, please open the link to the Miro file here.