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Number of participants | 5 Business Banking users, 5 Personal Banking users to test all the core journeys highlighted |
|---|---|
Demographics | These users were a mix of people from business owners, to undergraduate students, working class professionals, older retired people. Familiarity with the product ranged from zero experience (using the app for the first time) to people with existing accounts on the app (both business and personal accounts). All test participants were located in Lagos as all tests were conducted physically, participants spoke a variety of languages including English, Yoruba, Pidgin English, and Hausa. |
Selection criteria | The participants were a mix of new and existing customers. They were chosen at random, based on willingness to participate in the tests. |
Participant Select participant profiles
Participant A | Audu |
|---|---|
Age | - |
Occupation | SME owner |
Tech savviness | Low |
Fintech usage | Uses the moniepoint mobile app for business owners, recently had a transaction held for violating KYC limits on his account. He’s not very familiar with digital money management apps like this, and displays a high level of anxiety when asked to interact with the app. |
Primary devices | Android phone |
Key insights | Audu heavily relies on his POS terminal for business operations and tries his best to avoid using the mobile becuase of his limited experience with English and technology. He requires a high volume of assistance to perform actions he doesn’t perform daily for his business. He frustrated when he has to contact support for additional support his BRM is unable to provide because he doesn’t speak English. |
Participant B | Temitope |
|---|---|
Age | 54 |
Occupation | Market trader / POS operator |
Tech savviness | Low |
Fintech usage | Uses mobile banking apps (GTBank |
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) for personal daily transactions and a Baxi POS terminal for |
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Chinedu heavily relies on his POS terminal for business operations and uses fintech apps to track transactions. He is often frustrated by network downtime with POS systems and values transparency in fees. Easy-to-read transaction reports and the ability to quickly reconcile daily sales are critical for his business.
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Participant B
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Temitope
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Age
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54
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Occupation
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Market trader / POS operator
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Tech savviness
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Low
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Fintech usage
Uses mobile banking apps (GTBank) for personal daily transactions and a Baxi POS terminal for CICO operations at her business.
I using Moniepoint Personal Banking application for the first time
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Primary devices
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Android phone
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Key insights
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Temitope needs simple, straightforward fintech solutions with minimal steps to complete transactions. Clear communication is essential for her as she is inclined to distrust many tech solutions and prefers that everything is spelt out clearly so she knows what decision to make. She asks a lot of questions and relies on feedback and notifications from the app. She also relies on familiar looking icons for decision making as she wears glasses and was unable read a lot of the text on screen but managed to stumble her way through using the familiar icons on screen.
Uses mobile money apps like OPay and PalmPay for personal savings, transfers, and accepting payments from customers. Not particularly tech-savvy, but uses these services due to their ease of access and lower transaction fees compared to traditional banks.
Halima needs simple, straightforward fintech solutions with minimal steps to complete transactions. She values reliability, especially when receiving payments from customers. She finds features like SMS confirmations and immediate access to funds critical for trust in the service.
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Participant C
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Ifeoluwa
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Age
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27
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Occupation
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Software Engineer
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Tech savviness
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High
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Fintech usage
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Regularly interacts with multiple banking platforms for personal transactions. Uses apps from Stanbic IBTC, Opay, Piggyvest and Kuda Bank.
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Primary devices
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Google Pixel 8
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Key insights
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Ifeoluwa prefers platforms that offer quick, reliable transfers and clear transaction histories. He likes to also know when a Bank’s network is offline and mentioned he particularly enjoys Opay user experience because of how intuitive it feels for him. He mentions that the Moniepoint app did not give him the same level of confidence as he spent time looking for a number of features on the app despite his familiarity with tech products and was unable to complete one of the tasks assigned to him (hide/show balance)
Ifeoluwa requires fintech solutions that streamline business transactions and offer integration with accounting software. He values features like automated invoicing, bulk payments, and detailed reporting, but he finds it frustrating when banking platforms lack API integrations with their business software. Efficiency and robust security features are critical for business operations.
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Participant D
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Adaaku
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Age
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-
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Occupation
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Business owner
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Tech savviness
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Low
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Fintech usage
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She mainly uses the moniepoint app and POS for her business. She is also familiar with other banking apps that she has had to use over time, though her proficiency with them is still pretty low.
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Primary devices
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Android phone
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Key insights
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Adaaku struggled with nearly all the tasks given to her. For example, when given the instruction to upgrade her KYC account she was unable to, despite being a registered business owner on the app. She knew where to initiate POS views from, as well as send and receive money, and change her passcode. But that seemed to be the extent of her familiarity with the app as she required assistance for every other action she was asked complete on the app.
Primarily uses personal banking apps like Kuda and ALAT for saving, budgeting, and personal transfers. Also utilises fintech apps for peer-to-peer transfers and mobile payments.
Amaka prefers fintech apps that offer budgeting tools and savings features. She values gamification and rewards systems, such as cashbacks and referral bonuses, to increase engagement. Her main frustration comes from long transaction processing times or unexpected app downtimes. Security and user-friendly onboarding are important factors for her trust in the app.
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Participant D
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Oga Sunny
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Age
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-
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Occupation
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-
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Tech savviness
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Moderate
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Fintech usage
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Oga sunny claims he’s familiar with banking app and digital systems as he’s been riunning his business for a while now. In the past, he’s used apps like Paga and currently uses Moniepoint to run his POS business, facilitating cash withdrawals, deposits, and transfers for customers. He also uses traditional banking apps for reconciling the daily balance.
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Primary devices
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Iphone
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Key insights
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Oga Sunny’s biggest concern during the tests was the challenge that Moniepoint’s decision to only allow save as you earn and promo balance cashout via the web app and not the mobile app as was previously available. He also mentioned he had asked for CAC registration a while ago and is still yet to receive feedback after weeks of waiting. This is particularly frustrating for him to deal with since there’s no way to currently track the progress of things for him on the app. He expressed he often finds himself feeling helpless because of the lack of updates, and the lack of awareness on why Moniepoint makes some of the decisions that they make when they change up settings (like with the promo balance problem)
Recruitment process
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Delete this info panel, this is only for guidance.
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Participants were selected based on specific demographic criteria to ensure representation of the target audience.
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Recruitment channels included [insert recruitment methods: online panels, customer database, etc.].
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CICO operations at her business. I using Moniepoint Personal Banking application for the first time | |
Primary devices | Android phone |
|---|---|
Key insights | Temitope needs simple, straightforward fintech solutions with minimal steps to complete transactions. Clear communication is essential for her as she is inclined to distrust many tech solutions and prefers that everything is spelt out clearly so she knows what decision to make. She asks a lot of questions and relies on feedback and notifications from the app. She also relies on familiar looking icons for decision making as she wears glasses and was unable read a lot of the text on screen but managed to stumble her way through using the familiar icons on screen. |
Participant C | Ifeoluwa |
|---|---|
Age | 27 |
Occupation | Software Engineer |
Tech savviness | High |
Fintech usage | Regularly interacts with multiple banking platforms for personal transactions. Uses apps from Stanbic IBTC, Opay, Piggyvest and Kuda Bank. |
Primary devices | Google Pixel 8 |
Key insights | Ifeoluwa prefers platforms that offer quick, reliable transfers and clear transaction histories. He likes to also know when a Bank’s network is offline and mentioned he particularly enjoys Opay user experience because of how intuitive it feels for him. He mentions that the Moniepoint app did not give him the same level of confidence as he spent time looking for a number of features on the app despite his familiarity with tech products and was unable to complete one of the tasks assigned to him (hide/show balance) |
Participant D | Adaaku |
|---|---|
Age | - |
Occupation | Business owner |
Tech savviness | Low |
Fintech usage | She mainly uses the moniepoint app and POS for her business. She is also familiar with other banking apps that she has had to use over time, though her proficiency with them is still pretty low. |
Primary devices | Android phone |
Key insights | Adaaku struggled with nearly all the tasks given to her. For example, when given the instruction to upgrade her KYC account she was unable to, despite being a registered business owner on the app. She knew where to initiate POS views from, as well as send and receive money, and change her passcode. But that seemed to be the extent of her familiarity with the app as she required assistance for every other action she was asked complete on the app. |
Participant E | Oga Sunny |
|---|---|
Age | - |
Occupation | - |
Tech savviness | Moderate |
Fintech usage | Oga sunny claims he’s familiar with banking app and digital systems as he’s been riunning his business for a while now. In the past, he’s used apps like Paga and currently uses Moniepoint to run his POS business, facilitating cash withdrawals, deposits, and transfers for customers. He also uses traditional banking apps for reconciling the daily balance. |
Primary devices | Iphone |
Key insights | Oga Sunny’s biggest concern during the tests was the challenge that Moniepoint’s decision to only allow save as you earn and promo balance cashout via the web app and not the mobile app as was previously available. He also mentioned he had asked for CAC registration a while ago and is still yet to receive feedback after weeks of waiting. This is particularly frustrating for him to deal with since there’s no way to currently track the progress of things for him on the app. He expressed he often finds himself feeling helpless because of the lack of updates, and the lack of awareness on why Moniepoint makes some of the decisions that they make when they change up settings (like with the promo balance problem) |
Recruitment process
Recruitment channels included: walk-in complainants at the Moniepoint office, personal banking users recruited online and through the researcher’s network
Screeners were used to ensure participants met the following criteria:
regularly interact with banking apps
limited interaction with banking apps and technology products in general
current business owners with Moniepoint
current Moniepoint customers who do not speak English
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Core journey | Time on task | Success rate | Comments |
|---|---|---|---|
Check status of all accounts that are attached to the user | 12s | 100% | |
View balances | 7s | 100% | |
View transaction history | 8s | 100% | |
Initiate a funds transfer operation | 15s | 100% | |
Initiate a bill payment initiation | 9s | 100% | |
Initiate card management flow | 26s | 100% | |
Initiate savings product flow | 33s | 100% | |
View and initiate KYC level upgrade | 47s | 60% | |
Initiate POS product flow | 10s | 100% | Most BOs were familiar with this |
Copy account number to add money to the account | 12s | 100% | All users were able to complete this task effectively |
Edit App settings | 44s | 60% | |
Change password / passcode | 1m 48s | 80% | |
Hide and Reveal Bank Balance | 56s | 10% | Only one user managed to complete this task successfully, and she spent nearly a full minute on the task before she found it. Others gave up after searching with no progress. |
Change between account number and phone number | 37s | 20% | Only two people completed this. And that was because they had spotted the action previously while looking around the settings. |
Edit transaction limit, View account limit | 43s | 60s60% |
Post-test qualitative questionnaire feedback
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