We helped

Kotak build a securities product to grow 18x in 2 years

PROJECT PERIOD

Mar 2020 to Mar 2021

kotak.in

REVENUE GROWTH IN 3 YEARS

FASTER FEATURE DELIVERY

New users acquired

SUCCESS STORY

Market grew 7x, Kotak grew 18x

From 2019 to 2022, the annual turnover of options trading increased 7x, and Kotak Neo’s turnover increased 18x. This was possible because the Neo app made investing easier for the new and faster for the experienced.

challenge

Kotak Securities competes with new apps

Today, Zerodha and Groww’s smooth digital experience offers a strong alternative to stock broking platforms by banks. Kotak decided to build Neo, a best-in-tech digital experience, instead of revamping Kotak Securities.

ENTER OBVIOUS

We helped Kotak with digital transformation in record time.

Launching Kotak Neo in 6 months

We ran sprints to identify “just enough” features for new investors and launched the v1. We continued to add more features, making Neo relevant to experienced traders.

Obvious redesigned the incoming order screen in Gojek’s driver app to show just enough details.

User’s first trade made simple

After getting regular feedback from users, we simplified financial jargon. We designed the onboarding journey to be encouraging and personalised. This worked well for new users, who made up 70% of all Neo users.‍

Better UX = less support tickets

We took inspiration from e-commerce apps and used elements like Order Status to proactively give users clarity. Kotak Neo’s seamless experience increased user retention and satisfaction.

Designing screens 4x faster

We built a design system for designers and developers to just drag and drop components to put together mobile and web screens. This is used even today to design and write code for new features at speed.

100+

Components & variants

2 in 1: Great product and trusted brand

Kotak is India’s fourth largest bank and a legacy brand. Together, the trusted brand image and a great digital product compounded and led to explosive growth.

Obvious introduced us to new ways of working, to building with agility, to building in slices, to regular user testing. Besides building a great product, Obvious transformed how we work.

Manish Jain

Ex-Head of Digital Transformation, Kotak SECURITIES

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