Cred is striving to become a community of creditworthy users.

To enable this future, Cred started out as an app that helps users pay their credit card bills and users are rewarded by a virtual currency called Cred Coins & gems.

These coins & gems can then be used for actual transactions like F&B vouchers, cashback, entertainment etc.

To further increase the engagement of credit card users, Cred has recently come up with some exciting offerings and features.

These include #Stash, Lending, Pay Rent on Card etc. on enabling credit linked transactions, as well as Live Masterclass sessions for its users where they can use coins to get exclusive discounts.

While these features are exciting and will surely be looked forward to by its users, they continue to be more focused on ‘one-shot/once a month use cases’. i.e in essence, a user only needs to use the app once in a while.

What this means is that, the engagement on the app does not get an uptick beyond a few minutes (as and when that usecase is executed). And while low engagement apps aren’t necessarily bad business, it does feel like Cred is letting go off an immense opportunity to engage its niche user base.

In this challenge, you need to devise a Feature X for Cred, that will boost engagement on the app and is based on its redemption model (of coins and gems). Here, engagement means: the feature pushes users to come back to the app more often and for longer durations.

Please note, we are looking for only 1 Feature and not a list of features.

 

Also important to note is that traditional engagement levers or tactics (games etc) may not necessarily be the right way to approach this, given the niche nature of users Cred aspires to have (Sidenote: Cred has already tried such a feature: Win)

Hence, what we are looking for needs to be engaging not just for masses, but specifically for the user segment Cred is made for.

- You need not install the Cred app to take part in this challenge, nor is it necessary for you to have a credit card. If need be, we can provide you screens of the app, post registration

- Incase you aren’t a user and dont know if the feature is already in Cred, we will share a list of ‘engagement’ features Cred already has

- In the rare case that you feel Cred need NOT add any new Feature X, we welcome that view too. However, you will need to back it up with a solid viewpoint on why so.

- Kunal Shah Interview on building Cred: https://www.youtube.com/watch?v=DVTksz0vizU

- Cred launches new offerings: https://blog.cred.club/money-matters/cred-enhances-financial-confidence-for-creditworthy-individuals-with-new-products/