Siply Chits is a financial platform aiming to digitalise India's oldest saving-borrowing platform
My Role
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Craft clear, concise UX copy for diverse scenarios & use cases.
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Establish & maintain consistent core voice & tone principles.
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UX Research; User Journey Mapping
Results
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Increase in acquisition rate by 37.5 % and retention rate by 11%
Business's Goals:
Unlocking India's financial potential by transforming the traditional Chit Fund system into a secure, mobile-first experience, reaching millions of unbanked and underbanked Indians.
User's Goal:
Familiar benefits, modern convenience. Experience the trusted advantages of Chit Funds you know and love, now with the ease of your phone. Contribute, bid, and manage your finances on the go.
Market with an annual turnover of ₹60,000 Cr... What's the goal here?
Siply set out to revolutionize the financial landscape of rural India by digitizing the well-established Chit Fund industry.
So, our goal was to understand and navigate these existing trust structures, creating a digital alternative that felt familiar and reliable.
Solution?
Understand and navigate the existing trust structures of Chit Fund, and create a digital alternative that feels familiar and reliable.
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Let's pick up the pieces
To ensure Siply resonated with existing Chit Fund users, I conducted a competitive analysis, researching communication strategies of leading providers.
This revealed market trends and identified our unique differentiators, guiding design improvements and shaping a user-centric communication approach.
People are very sceptical when doing online transactions... especially for Chits Funds.
The users have strong opinions on Chit Funds being unreliable financial instruments because of popular stereotypes.
This made it very important for us to partner with government-licensed chits partners to entrust reliability.
Structuring the plans and communication
Based on the data gathered through the user research, we tried to structure the scheme planning to keep the whole saving and borrowing process smooth.
Also, as the target audience is not so tech-savvy, only beginner-level or commonly used English words are used.
Using information architecture to cater to all the use cases
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Finally, the homepage was iterated so that it is catering to all the major use cases like paying monthly subscriptions, participating in auctions, repayment and Autopay.