How to attract and retain users on fintech projects

Hello! My name is Mikhail Dyrma, I am responsible for the development of the fintech area in AGIMA. Last week, we held a meetup for fintech market participants. Together with experts from Alfa-Bank, Tinkoff, MKB and Moscow Exchange discussed how to work with users of fintech products. In this article, I collected the most important thoughts from each report.

First of all, I will share a link to the record of the meetup itself. The reports were devoted to both the product and technical components of fintech projects.

But our main focus was on the user. The entire team of experts talked about their experience in attracting and retaining users with the help of new features, competent architecture, a strong team and metrics. You can see all this here:

But if you watch the whole hour and a half is not leisure, then you can read the text below. There I tell as concisely as possible what each performance was devoted to. Here you will also find time codes, and presentations are available in our hub.


Report No. 1. How we launched the Finuslugi mobile app

Alexey Kirov, product development leader of the Finuslugi mobile application

Timecode: 5:28.

Alexey spoke about the experience of creating the Finuslugi app, on which the Moscow Exchange worked together with AGIMA. Our team was involved in all stages of development: from architecture and creation of the MVP to the introduction of new features into a full-fledged product with a loyal audience. We wrote in detail about the Finuslug case at our website.

Prerequisites for creating a mobile application:

  • more than 80 million Russians use online banking services, including mobile services;

  • 51% of users of the web version of Finuslug accessed the site via mobile devices.

These figures showed the Finuslug team that a mobile application is an important fintech product that they cannot do without. So they started development.

I. Research.

First of all, the team found out what financial products and what features users are interested in. Polls have shown what the majority would like to see in the OSAGO application. It also turned out that users would like to register in the application by phone number.

The legislation requires authorization to go through the State Services – this is necessary for processing deposits or loans. But the team decided to start with a quick registration by number – OSAGO can be issued without the State Services. So the user had a choice: he could register in different ways.

As a result, the MVP included:

  • registration of OSAGO;

  • registration by phone number;

  • links to other products – they led to the site;

  • useful articles and links.

II. MVP development.

The next product, according to the results of the surveys, were deposits. When launching this channel, the team paid special attention to the UX kit – it was important to maintain consistency. The first product – CTP registration – was already working, and the rest had to comply with it.

How the app has evolved read this article.

III. Technologies.

At the start of development, the team chose between 3 options:

The choice fell on native development. Read more about the reasons for this choice in the report. Among other important technological stages, Alexey singled out quality assurance. The testing team worked with an up-to-date stack, applied the most modern solutions. The second important aspect is the monitoring system.

IV. Results.

  • 49% of Finuslug users access through a mobile application.

  • >30% of deposits are opened through a mobile application.

  • 18% of users register for the first time in the application.

Report No. 2. Segment strategy for working with SMEs in a competitive banking market

Speaker: Yury Mironenkov, Chief Product owner SME, MKB.

Time code: 24:40.

Yuri shared his experience in researching new niches and developing products for small and medium-sized businesses. He told what segment strategy MKB Bank chose and what came of it.

The bank team chose from two strategies:

  1. Direct competition in the market.

  2. Creation of a digital bank.

But as a result, the team chose a third, essentially a hybrid strategy. This market resegmentation. This strategy assumes that the bank selects key customers and starts working with certain segments. About why exactly this path was approached by the ICD, more details in the report.

The MKB team chose grocery stores and cargo transportation as important segments for itself. We will talk about them below.

I. Cargo transportation.

Any business, including the trucking business, has many specific needs. Financial – only a part of them. MKB decided to highlight the main needs of the segment and close their implementation on itself.

This allowed the team to create services inside their fintech product:

  • repair service;

  • electronic document management;

  • counterparty verification service;

  • orders for cargo transportation;

  • vehicle leasing;

  • transport and cargo insurance.

The team also paid a lot of attention to research and data analytics. They studied customers who work in the trucking segment to understand their problems and needs. This made it possible to understand what products, in addition to banking, are of interest to them.

II. Structure of product development.

The development cycle consists of three stages:

  1. Segment identification and evaluation.

  2. Needs, hypotheses, experiments, MVP.

  3. Launch, development.

Sales channel structure:

  1. Bank branches.

  2. Online sales.

  3. Large clients.

  4. Affiliate network.

In online sales, the team places particular emphasis on robots. In fact, these are cold calls, but potential customers are called not by people, but by a machine. This allows the company to get leads but save resources.

III. Results for clients.

  • Single point of entry.

  • Favorable working conditions.

  • Flexible interaction history.

Report No. 3. How to properly develop a fintech product in the new realities

Speaker: Elena Maerkina, CPO AGIMA

Timecode: 42:48.

Elena told how to build and implement a pyramid of product metrics in a digital product in order to understand how you can influence the profit and key business indicators of the product through indirect metrics.

Metrics – transparent, measurable, comparable, correlated – are the most reliable indicators of product success. To work with metrics, it is convenient to use the Metrics Pyramid framework. It allows you to prevent hyperfocus on any one metric.

Algorithm for building a pyramid

  1. Audit: Determine the data to be tracked.

  2. Classification of indicators: getting rid of hyperfocus.

  3. Hierarchy: highlight the main metrics.

  4. Relationships between metrics: understand how they interact.

These four bricks form the pyramid.

At the base of the pyramid are platform metrics related to product reliability and availability. The next level is interface metrics. Then product metrics. At the top of the business metrics pyramid.

Metrics work in cycles:

  • we are aware of the needs;

  • we generate ideas;

  • put forward hypotheses;

  • testing hypotheses;

  • we are finalizing;

  • change the selected indicator.

Working with metrics is impossible without a product team.

About how to work with her, at the mitap, I tell myself. You can watch my part of the report in the recording – it starts at 51:40. Here’s what I’m talking about:

  • how to motivate the product team;

  • how to set up the interaction process;

  • what is AGIMA Flow and how the process works;

  • how to put together a great team;

  • how to find contractors, etc.

Presentation for reports, as I wrote above, available in our hub. And Lena has own telegram channel about the product approach – subscribe.

Report No. 4. How to make friends between financial and non-financial features in a product

Speaker: Vladimir Posvyansky, Head of Engagement, Tinkoff

Timecode: 1:07:40.

Vladimir told how using non-financial features (games, quizzes and in-app stories) you can increase the company’s income, customer loyalty and user involvement in the product. And also how the Sticky Factor affects income.

According to the report, any business has 2 big challenges:

To achieve these goals, a fintech project can use several tools. For example, to strengthen communications with the help of push notifications or other tricks. Another option is to get to the main screen to be closer to the user.

But both of these approaches are vulnerable – they lead to relaxation. The user does not take any steps on their own. And we need to work with this – to involve users. Engagement is a set of mechanics aimed at increasing loyalty. Engagement can be financial or non-financial. Financial methods include push notifications, mailing lists, banners, etc. But the report is devoted to non-financial methods:

How to measure non-financial engagement:

  1. interest in the product.

  2. Inclusion in the product.

Both of these blocks together give the target action. There is a lot more detail in the report about which specific metrics to use for each of these items.

How to influence metrics

There are many approaches. The report covers the following:

But such approaches have their own nuances. All the disadvantages are related to the processes, cost and time to develop and test hypotheses.


  • non-financial instruments work, they need to be used;

  • non-financial instruments give a real financial result;

  • but at the same time, you cannot expect an instant result – this is a long-term investment.

Report No. 5. What is Cloud Value, or Why Fintech in Clouds

Speaker: Svetlana Vagner, Cloud Product Owner, Alfa-Bank.

Timecode: 1:27:54.

Svetlana spoke about the use of cloud technologies and the creation of voice assistants in a financial product based on machine learning.

The main thesis of the report is that cloud technologies can reduce Time-to-market:

  • they increase the speed and quality of product development;

  • accelerate technology testing;

  • accelerate resource scaling.

It makes no sense to develop speech analytics technologies based on machine learning from scratch. These are the same tools as, for example, task trackers – you just need to use them.

Cloud solutions give the team the flexibility to:

  • no need to upgrade hardware every N years;

  • get data centers without construction costs;

  • convert CAPEX to OPEX.

Plus, if you have a mature architecture and infrastructure, you get the ability to scale flexibly and be ready for any workload.


  • The cloud accelerates Time-to-market.

  • The company can focus on the development of competitive products, become more flexible and manageable.

  • The cloud allows you to study how competitors are adopting new cloud technologies.

  • The legislation does not prohibit hosting infrastructure in the cloud. However, it must comply with the requirements of 152-FZ.

  • The cloud infrastructure is secure.

In total, 5 reports were made at the meetup. You have just read their abstracts. More examples, details and generally “meat” in the record from the meetup. Link again:

You can still ask questions to the speakers in our chat. Perhaps you will find answers there to questions that were not heard on the air, since the speakers communicated with the participants in parallel. And after watching the recording, you can leave feedback, filling out the form.

Come to our online conferences. We will be glad to see you there. And instead of a conclusion, I attach a selection of articles that can help you in your work:

If you have any questions, ask in the comments – I will try to answer.

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