Driving repeat lending on Kiva
Kiva is a non-profit organization that aims to expand financial inclusivity for communities around the world through loans. Currently, the data demonstrates that Kiva users take long periods of time in between making their first and second loan. How can the experience change to keep users engaged while waiting for their first repayment? How can we make users feel more connected to the loan they just made?
Employer
Kiva
Role
Product Designer
Year
2021
Preview
Background
Kiva, as a microfinance nonprofit, thrives on the generosity and engagement of its lenders, who help provide life-changing opportunities to borrowers around the world. Our data revealed a critical challenge in retaining and encouraging repeat lending, particularly among new mobile users. The most significant drop-off occurs between the first and second loan, specifically among users who initially made a loan on Kiva’s web platform but have not yet re-engaged through our mobile app. This insight highlights a crucial opportunity: by improving the mobile experience and creating a seamless transition from web to app, we can nurture lender engagement, reduce friction, and encourage continued participation in Kiva’s mission.
What prompted us to re-think the user onboarding?
At Kiva, our mission is to empower as many people as possible worldwide through lending. To expand our impact, we need an engaging in-app experience that not only retains but also inspires lenders to continue supporting borrowers. Currently, the experience feels uninspiring and cumbersome. Our goal is to celebrate users for making their first loan while seamlessly guiding them toward their next act of generosity.
Challenges and opportunities
This project was done in two weeks making it difficult to get new user research and testing. The team assumed that the focus should be on an experience after the app opens. Long term, the idea is to collect insights about who our mobile users are or could be, and how to drive adoption.
This onboarding experience lacks...
How does this make signers feel?
This project was done in two weeks making it difficult to get new user research and testing. The team assumed that the focus should be on an experience after the app opens. Long term, the idea is to collect insights about who our mobile users are or could be, and how to drive adoption.
What can we do?
Hypothesis
If we create a more seamless and engaging mobile experience that acknowledges a user’s first loan and provides clear guidance and incentives toward making a second, then we can reduce drop-off rates among new mobile users who initially lent on the web, ultimately increasing lender retention and engagement.
Measure impact
Pushing our product and engineering partners to add tracking and create strong reporting.
Iteration and experimentation
Exploring and experimenting on how information is distributed and shown.
Launch
A personal celebration
Adding a subscription upsell
Going further
I believe that our hypothesis in creating a celebratory moment will encourage users to make a second loan. It will be interesting to see if users will be more motivated to join the Monthly Good subscription service or simply chose a second loan themselves. I am looking forward to seeing the data to understand if a more celebratory approach will push lenders to contribute towards that second loan.
