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.
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.
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.
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.
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.
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.
