Abredefe Francis Ajomafuvwe

Product Management Portfolio Prepared by (Abredefe Francis) Professional Background Graduated from Delta State University, Abraka, Nigeria in 2019 Botany (B.Sc) Abstract This is a sample portfolio for kuda bank prepaid debit card for teenagers which has been developed as a part of EntryLevel Product Management Level 1 course. •Situation: Kuda bank prepaid debit card is a hypothetical product for teenagers who are minors age 11 to 18 that wants to make online and offline payments without setting up a bank account. •Task: The purpose of this project was to validate the market, problem and solution and also to help solve the problem faced by parents and teenagers in nigeria. •Action: I started with identifying and prioritising assumptions, then conducting market research and user interviews to get a better understanding of the market and the customer problem. Then i built a prototype strategy. After that, i listed out features for MVP using Affinity Maps and Features Maps. Lastly using MSCW and T shirt frameworks and Effort Value Map, i identify the MVP features •Result: I identify MVP features and listed them in the form of user stories. I learnt that teenagers want to possess prepaid debit card to make online and offline payments and parents want control over their teenage kids spendings. Portfolio Outline Table of Contents • • • • • • • • • • • • • • Professional Background Abstract Table of Contents Customer Problem Statement Assumption Mapping – Risk Importance Graph Market Research User Interviews MVP Strategy Affinity Map Feature Map Prioritisation and Estimation Effort / Value Map User Stories Conclusion Pg. No. -,10 11,-,- Customer Problem Template For [ Teenagers] who has [ the need to use online and offline prepaid debit cards without setting up a bank account ] [ kuda bank debit card for teenagers ] is a [ digital banking service ] that [ offers free-services to teenagers ]. Unlike [ Other traditional banks ] my product is [ Unique because minors (ages 11 to 18) can successfully make online and offline payments without the need to set up a bank account ] We’ll know this is true when [ lots of teenagers adopt kuda banking service to other traditional banks ] Assumptions Importance - If we get this wrong, how likely will we fail? (0 – 10) Prioritising Assumptions Risk - How much do I really know about this? (0 – 10) 1. Is there a market demand for online and offline debit card for teenagers? 8 4 2. Does teenagers really need online and offline debit card? 8 3 3. Will the prepaid online and offline debit card be suitable for teenagers to use? 6 2 4. Does parents prefer their teenage kids to have their own online and offline prepaid debit card without to set up a bank account? 6 3 5. Does parents trust using kuda digital banking to other traditional banking service? 4 6 Risk Importance Graph Unknow n 0 Will the online and offline prepaid debit card be suitable for teenagers to use? Does parents prefer their teenage kids to have online and offline prepaid debit cards? Not Important 0 Is there a market demand for online and offline debit card for teenagers? 10 Importan t Does parents trust using kuda banking service to other traditional banking services in this graph. You can move the ound and create new ones by hem. THIS BOX AFTER READING 10 X axis - Importance Y axis - Risk Does teenagers who are minors really need online and offline debit card? Know n Market Research Target Market 1. What need does your product or service fulfil? Kuda bank prepaid debit cards for teenagers makes it more easy for parents to request for their kids and so they can monitor and manage their kids offline and online spendings 2. Are there any problems or pain points it solve? It helps solve the problems of teenagers who need online and offline payments without to set up bank accounts and parents who will like for their kids to have an account of their own 3. Who would benefit most from your product or services? Aspiring teenagers of prepaid debit cards who are minors age (11 to 18) Demographics: Teenagers who are minors age 11 to 18 and also parents age between 35 to 50 Geography: Those residing in or around the urban areas. Psychographic info:Teenagers already using smart phones and are well shrewd in tech Behaviors: Those who prefer making payments using devices and don’t like to waste time, money and energy in doing so Growth Rate According to the Q1 2021 Global Prepaid Card Survey, prepaid card market in the Nigeria is expected to grow by 22.8% on annual basis to reach US$ 10,586.9 million in 2021. The prepaid Card market expected to grow over the forecast period, recording a CAGR of 19.4% during-. The prepaid card market in Nigeria will increase from US$ 8,621.8 Million in 2020 to reach US$ 17,501.3 million by 2025 Competitors Opay, Smartsavers, moneypoint, Cowriewise, PiggyVest, PalmPay User Interview Summary Questions Interviewee 1 Interviewee 2 1. Have you had any experience before with kuda prepaid debit card? If any, what are your experience? Have a good experience about the idea and love the experience of being able to make online and offline payment by one self Very open to the idea of having a prepaid debit card for online and offline payments 2. What are the difficulties Having issues in setting up you observed when using high spending limits kuda prepaid debit card? Could not spend properly because every purchase was monitored by parents 3. Do you have any Having concerns about concerns about your monitoring kids online teenage kids using prepaid payments debit cards on their own? If any what are they? About the security and safety of using prepaid debit for online payments 4. How would you like to track your teenage kids spendings? Love the idea to be able block teenage kids from some purchases Love the idea of tracking teenage spendings because it allows me know what kind goods they purchase Interviewee 3 Key Findings Key insights generated from the interviews: Insert text 1. Because teenagers could not open bank account till they turn 18, limit their ability to save and manage their finances 2. Many teenagers lack basic understanding about financial concept like investing, budgeting and savings 3. Many parents are worried about the security and safety of using prepaid debit for online payments 4. Many teenagers like the idea of having their own prepaid debit cards instead of asking their parents for money Minimum Viable Prototype Assumptions 1. There is a market demand for online and offline debit cards for teenagers. Success Criteria 50% signups should validate this 2. Teenagers are very interested in having 90% feedbacks should validate this online digital banking experience 3. Parents trust kuda digital banking service to manage teenage finances 75% signups should validate this Prototype Strategy 1. A kuda bank debit card for teenagers 2. A mobile app for both teenagers and parents to track budgets and monitor transactions. Finding Users 1. Making use of social media platform like, facebook, instagram and tiktok to reach out to lots of teenagers 2. Run targeted ads on youtube, google and search engines Affinity Map Tracking my spendings easily Control teenage kid spending Having kuda app or website Need to view transaction history Set restriction and spending limit on the card View breakdown of transaction Having transaction alert in the app Block and unblock card whenever Able to see account balance and amount spent Making purchase safely Generate visual card number associated with card on each transaction Dispute resolution process be initiated promptly Report suspicious activity detected using in-app protection tools Monitor spending habits Access spending analysis on dashboad Feature Map User Needs Features I need to track my spendings easily • • Notifications on phone for all spendings In-app budgets tracking and spending analysis I need to control my teenage kid spendings • Set spending limit and restrictions on cards Blocking and restricting certain categories of spendings I want to make purchase safely with my kuda debit card • • Transaction alerts for unusual spending patterns and for high value purchases Fraud protection tools in the app I want to monitor my spending habits Saving tips Spending analysis MSCW Framework User Needs Features Must Must • Notifications on phone for all spendings Write Definition Should Write Definition Could Write Definition Won’t Write Definition • In-app budgets tracking and spending analysis Should • Set spending limit and restrictions on cards Blocking and restricting certain categories of spendings Could Transaction alerts for unusual spending patterns and for high value purchases Fraud protection tools in the app Won’t Saving tips Spending analysis T Shirt Effort Estimation 1. Notifications on phone for all spendings (S) 2. In-app budgets tracking and spending analysis (M) 3. Set spending limit and restrictions on cards (M) 4. Blocking and restricting certain categories of spendings (L) 5. Transaction alerts for unusual spending patterns and high value purchases (M) 6. Fraud protection tools in the app (S) 7. Saving tips (S) 8. Spending analysis (M) Value vs. Effort Map MVP Features High Value Notification on phone for all spending Set spending limits and restriction on cards In-app budget tracking and spending analysis Blocking and restricting certain categories of spending Transaction alert for unusual spending patterns and high value purchase Low Effort Fraud protection tools in the app S High Effort Saving tips Spending analysis X axis – Value Y axis - Effort Low Value User Stories As a [teenager], I want to [be able to have an online and offline prepaid debit card], So I can [ be able to make direct online and offline payments] As a [teenager], I want to [be able to monitor my spending habits], So I can [be financially responsible] As a [teenager], I want to [be able to save money], So I can [be able to have some financial freedom] As a [teenager], I want to [track my spendings], So I can [manage my finances] As a [parents], I want to [to monitor my teenage kid spending habits], So I can [control or block some spending categories ] Conclusion The kuda bank prepaid debit card is a product designed to provide financial independence and security for teenagers who wants to make online and offline payments while also give parents chance to monitor, tack and control their teenage kids spending habits. Though the market research and customers interview conducted on both parents and teenagers the product assumptions was validated. The product aims to provide solutions to the challenges faced by parents in managing their teenage kid finances while providing teenagers tools to save, grow and become financially responsible. Product Management Portfolio Thank You