Product Teardown - Dhan

5 lakh total active users 1 lakh MF active users

Company age:

2 years

Marketed Personas:

1. Super Traders (unclear, might mean high order value or usage frequency or both)
2. Long term Investors - most likely means users with high LTV, in financial terms non complex investors doing simple SIPs on simple to use products

Persona of Actual Users - 5 lakh users:

positioned as an app for traders

1. F&O Traders
2. Equity Traders

Age Group:

60% below age of 30

MF Feature

1. Launched 3 months ago
2. On app store and play store (10 lakh + downloads - 4.4 Stars)
3. Have another Options specific app with 5 lakh + downloads and 4.7 Stars

Context on App downloads and ratings:

1. Groww and Angel have 5cr + downloads at 4.3 stars
2. Upstox and 5Paisa have 1cr with 4.3 stars. Indmoney has 1cr downloads but 4.5 stars. Paytm Money 1cr with 4 stars.
3. Kotak, ICICI, Dhan are in 10 lakh category with 4.3 stars.
4. Tata Capital is 50L with 4.3 stars

4.3 Stars is the average rating in the industry. 4.0 is the worst and 4.5 is the best. Not consiidering Kite which is 3.8 but does not have MF.

Goals:

1. Increase user base to 10 lakhs fod MF product, activation = 1st successful trade
2. Cautiously shift the brand as an ideal product for general investors who have long term investment intent — good to have: both stocks and MF usage

Problem Type:

Acquisition + Branding Problem

Channels:

1. Twitter
2. Linkedin
3. Instagram
4. Community — for release notes, educational prodi

History:

1. Pravin Jadhav → Paytm Money, had some vision mismatch. Most likely mismatch pn making it a supar app for assets.
2. Current Vision for Dhan:

Industry Data

Average monthly SIP = ~2300 INR

Onboarding:

1. The story like carousal - user does not know whether to slide or tap. The animation is sliding but input requires a tap.
2. Downloaded App - Opened It did not register. Waiting to check if I get push notification. Push notification permissions were asked on first app open and permission given.
   1. After 24 hrs, received push notification asking to complete KYC.
   2. On click takes user to Signup/Login Flow
   3. 10 minutes timer to indicate KYC will not take much time
   4. User can press cross icon to go to Home Page, when KYC is not done all market data is 15 mins delayed
3. Authentication Steps
   1. OTP for first time verification - 6 digit → Does not auto-input OTP, auto verifies on input
   2. Email Setup with Gmail or enter manually
   3. Setup Pin - 6 digit
   4. Setup Biometric
   5. KYC (optional)
4. KYC Process: every step has a timer that resets once its over → Easily takes more than 10 mins
   1. Enter PAN Number: Verifies name to proceed
   2. Upload Aadhar with Digilocker: Requires digilocker password and approval to share details
   3. Select Gender, Salary Range, and Profession Type
   4. 6 month Bank Statement — required for Aadhar, can be skipped
   5. Take a Selfie
   6. Signature verification as per PAN
   7. e-Sign the documents with NSDL/Protean — enter Aadhar OTP
   8. Password Setup (don’t know for what — already had setup so many things)
   9. Time to be eligible for First Trade:
5. Onboarding: Form to understand Persona and describe relevant features → takes user to home screen post this to explore while KYC is being reviewed → Can find the live KYC status via Home or LHS

Activation: