Would you switch to a new investment app?
I've got a pitch for a new investment app with a strong team and idea looks decent. However my biggest concern is consumer stickiness. Taking myself as an example, I've been a zerodha user for as long as I remember, kite & coin both. Even though I've been hearing good things about Groww, I don't feel like shifting my whole portfolio ( taking the headache associated with migrating & monitoring a new app) all for better UI. So, would you guys, use a new investment app?
Depends, what do you think is the issue with Zerodha and Groww?
And is there any additional value that the new app can bring?
Also only if the new app gives easy steps to transfer all (I don't need to Google it)
Indusplateau
Stealth
6 months ago
Many come and go in this industry. It's daunting to change
What will be your biggest MOAT... Have you tried Fold.money good UI...shitty UX
Fold doesn't have any of my banks, but do they also fetch investments? Its based on account aggregators
Yes fold relies on AA to fetch your data...and yes users can soon be able to see their investments
Only if strong reasons - for example if trading account low cost and better reliability.
May be instead of making people switch - can it be targeted as a 2nd or 3rd investment account?
E.g for long term investments, which one opens very rarely and has good monitoring/ alerts system (just an example )
Define your persona really well and make the product for them .
🤣 are we talking to each other since this platform is anonymous. But nah, it's very long term only focused. Nothing for trading
Didn’t get your first line .. anyway if your reference is to the question mark .. it is just mentioned so that you can think on it.. not looking for answers 😀
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FancyChino64
Stealth
6 months ago
There's no easy way to shift from one app to other.... Have to redeem from one app and shift to other app which is cumbersome considering the taxation that come in to picture
hellloworld
Stealth
6 months ago
No. Never
Break the problem into 2
1. Getting people onboard. If you can make an app that login and connect to your demat account. People will try your app.
2. Stickiness : my sense is make one time setup(DIY) on goals(setup by financial advisors - customized) and every month the system/flow should work on it own. And just give a notification all systems are working fine.
There should be a strong “reason” to switch and it shouldn’t ideally be lower cost . You need to identify problems with current solutions and provide better alternatives.
I'm not building it, I've got an inbound for an angel cheque, the differentiatot is not cost. It's about user behaviour
Hmm check for the probability of their user behaviour hypothesis of working. If you share more details about it then we can share whether that will make us shift to a new app. As such zerodha is fine for now.
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