💳 🎭 ICP

1. 1. 📝User Interviews

      Theme	Questions	ICP 1	ICP 2	ICP 3	ICP 4
      		Rahul	Mohit	Mohit	Pranav
      ​	​
      Demographics	Age	34	24	24	26
      Income Levels	40 LPA	20-30 LPA	20-30 LPA	20-30 LPA
      Gender	Male	Male	Male	Male
      Location	Delhi	Bangalore	Bangalore	Pune
      Companies	Career break	Jodo	Jodo	Ken
      Marital Status	Married	Single	Single	Single
      ​
      Spend Analysis	How do you spend your weekdays apart from work	Netflix and chill	Food and Beverage	Food and Beverage	FnB and Social media
      How do you spend your weekends?	Local and domestic travel	Food and Beverage	Food and Beverage	Meeting friends, Side projects
      What do you spend most on ?	Upskilling, Travel	Rent, Parties going out, fashion travel	Rent, Parties going out, fashion. travel	Food, go out a lot
      Your monthly spends apart from rent?	50k monthly	10-15k monthly	10-15k monthly	50k monthly
      Apps they spends most of their time on	yt (politics, tech, finance)	whatsapp, ig, chatgpt, more of pc	whatsapp, ig, chatgpt, more of pc	uber/ola, news, OTT, Food delivery
      ​
      Travel Traits	How frequently Due you Travel		2 international 2-3 domestic	2 international 2-3 domestic	Once a year and Domestic
      avg spend		3k/day	3k/day	7k / day
      avg travel days		10 days	10 days	7 Days
      How do you book your Flights		http://booking.com/ credit card	http://booking.com/ credit card	Kayak, skyScanner
      How do you book your hotels		http://trip.com/ as per price use scapia it is forex transaction	http://trip.com/ as per price use scapia it is forex transaction	Club mahindra member

   2. 👥ICP
   3. 1. Meet Kabir he is completed his graduation from NIT Warangal in 2021, currently working in Bangalore for a startup. He earns 22 LPA, and spends mainly on Food, Beverage and Travel, apart from of course rent at HSR and daily Uber rides to office. Kabir is a smart traveler he creates his itinerary well in advance with the help of Youtube vlogs, ReditIt Posts and other relevant social media where he finds his tribe. He cam across the concept of zero forex through a reddit post, and ended up applying for Niyo, after comparing existing forex options from Banks. Kabir is a budget traveler and his average spend during a travel is 5k/day with Niyo card he his able to save 1800 rs on his last trip to Vietnam. Not to forget additional benefit of withdrawing cash without any extra charge, as Cash still rules the game for developing countries like Thailand, Vietnam etc. (Exactly his budget destinations.)

🎯 User Goals (JTBD)

1. 1. User Product Experience

   	​	ICP 1	ICP 2	ICP 3	ICP 4
   	Product	Niyo	Scapia	Niyo	Scapia
   Product - Discovery	How did you came across Niyo as a product ?	Playstore as I was travelling to Vietnam	Read a post on linkedin about fundraiser while I was planning for Bali. June 2023	reddit forex blogs	GrowthX member referred as initially it was invite only
   	What solution you were looking for from Niyo ?	Zero Forex, Cash Withdrawal	Zero Forex, Acess to digital currency other option was money exchange,	Only to avail cash for my Thailand trip, Developing countries are still more cash friendly than credit card	Unlimited lounge, Flight rewards
   	What banks or other competitors you have considered	None	Though of banks but they have too many follow-up calls	they are cumbersome, no visibility	Flight offer cards need very high min spend
   	What were the Deciding Factors while going ahead with Niyo	Zero Forex	Zero joining fee and no yearly charges	Ability to withdraw cash and Forex	Good lounge acess and already a federal bank cx. I joined when it was an invite only. Joined as there was no KYC involved
   Product - Application Process	Application process	Very easy. Completed in 15-20 mins	Very well deigned. vkyc had a glitch. just pan and Aadhar are required as Docs	App is trying to ask too much. they diverted to SBM card which I didn't want.	Super smooth as I already had an account with federal bank. So no KYC was required
   	Could you complete the process in one go	Yes	No due to VKYC	VKYC took 2 days	Not required
   Product - Offline Process	What was the TAT for Physical card receival ?	5 days	5 days	3 days	3 days
   	How was the offline kit receival experience?	Simple card board box. Nothing fancy	only envelope, card, and reddit stuff	cardboard box, RFID pouch	only envelope, card, and reddit stuff
   Product - Features	How was the card activation process when you received the physical card?	Couldn't do as Card came after I left for my trip	QR in the box and scan with your app	swift	Don't remember but no issues
   	max limit	Prepaid	50k	Prepaid	50k
   	Your take on below mentioned additional Features		Was aware but were not ur deciding factor	nothing anything apart from the app
   	Lounge acess	Not required as Infinia CC and other good cc give me lounge acess	lounge acess as it is based on QR, check conversion and transaction	Used for lounge acess but they are not offering right now	Yup but not frequent
   	Visa Application		NA, I was travelling to Thailand (Visa free)		NA
   	Travel Insurance	NA	NA	NA	NA
   	Cashback coins	Yes	No	Yes	Yes
   Product - Overall experience	Frequency of product usage	once a year	Very frequent as I have my family in Dubai	Very frequent	1-2 a week
   	referral prog	Aware but have not used	cant find it now earlier it was	Not Aware	No, as they reduced my limit
   	Good Experience	None	Online Application and Activation	Application process	None
   	Bad experience	Taking 5 days to deliver	VKYC	extra 20% without info	credit limit w/o information

   1. Job to be done

      User Goal	Cohort	ICP 1	ICP 2	ICP 3	ICP 4
      Primary	Financial	Zero Forex	Zero Forex	Cash Withdrawal	Unlimited lounge
      Secondary	Financial	Cash Withdrawal		Zero Forex	Flight reward

Onboarding TeardownNiyo - Onboarding Teardown.pdf

Activation metrics

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