Moneyview referrals

Redesigned the referral journey to reduce friction and boost adoption, leading to a 3.3× increase in loan approvals

Business Model

B2C Fintech

Product Type

Consumer Fintech SaaS (UPI, Lending, Personal Finance and Investing)

Timeline

4 weeks

Platform

Mobile app (Android)

Role

UX Researcher
UX Designer

Research Type

Generative and Evaluative

Research Methods

Funnel Data Analysis, Secondary Research, Surveys, User Interviews, Concept Testing, Usability Study, Persona Development

Design Activities

User Journey Mapping, Sketching, Wireframing, Prototyping, User Interface Design

Tools

Figma, FigJam, Google Forms, Google Meet, Google Docs and Google Sheets for synthesis

This project has delivered the following Business Impact

3.35×

Increase in referral loan approvals

1.5×

Uptick in referral loan applicants

~50%

Reduction in customer acquisition cost

The Context

One of Moneyview's annual objectives was to scale the “Refer & Earn” program to increase the number of loans approved. Key stakeholders included the Product Manager, Marketing, and Growth Teams, with UX fronting the design strategy and execution.

Problem Statement

Users either don’t know the referral program exists, or don’t understand what they’ll get, when, or how. This lack of clarity and accessibility leads to
drop-offs and missed opportunities.

While the referral program existed, the numbers told a different story — low participation, and high confusion. Users either weren’t aware the program existed or didn’t feel confident enough to act on it. Through surveys, interviews, and funnel data analysis, we uncovered deeper usability and communication breakdowns that were limiting both user action and business outcomes.

These weren’t just UI issues — they reflected a breakdown in value delivery, discoverability, and trust, all critical to product growth.

Objectives

Aligning Business with User Experience

boost referral loan conversions
comprehension & clarity

Increase Referral Flow Completion

Are users able to easily understand and refer people without getting stuck?

increasE program visibility
Discoverability & feature adoption

Encourage More Users to Discover and Use the Referral Feature

Is the referral program discoverable during natural moments in the user journey?

increasE revenue from referral loans
reduce customer acquisition cost
Motivation & Trust

Drive More Referral Acceptance from Qualified Users

Can we present a compelling value proposition that resonates with users and motivates them to accept referrals?

Expected outcomes

📈 Higher Referral Conversions

More users should accept referrals and complete their loan applications, leading to increased referral-based loan approvals.

🚀 Improved Feature Adoption

Users should discover and interact with the features linked to the referral program, especially from high-intent entry points.

🧠 Better Comprehension of Rewards

Fewer users should express confusion about what the reward is, how much they get, and when it's credited.

🔗 Increased Share Rate

More users should share referral links with relevance — indicating a clearer value proposition and reducing the need to spend on acquiring new customers.

UX Research and UX Design

Process & Execution

Phase 1

Discovery through Research

Methods Used

Funnel Data Review, Secondary Research, User Surveys, User Interviews

Participants

Users who use Moneyview - split across have/have not referred other users (May or may not have taken a loan from Moneyview)

Tools

Google Forms, Sheets, Figma, Google Meet

Duration

1.5 weeks

Executing the Study

Studied current business performance and referral funnel data to interpret user drop-offs, uncover friction points, and surface key opportunities for improving metrics.
Executed competitor study and audited the existing flow to identify missed best practices from industry patterns and usability violations.
Studied users through surveys and user interviews to understand motivations, barriers, and perceived value.
Mapped and ideated referral features and user flows tailored to distinct behavioural segments.
Defined proto-personas for referrers and invitees based on qualitative insights from user interviews.
Shared key research insights and opportunity areas with stakeholders, driving alignment on user problems and priorities for the design phase.

Insights

Referral program traffic does not drive revenue

Low awareness of referral programs

Low visibility and poor accessibility of referral entry points

Poorly defined value proposition

Phase 2

Solutions through Design

Methods Used

User Flows, User Journey Mapping, Sketching, Wireframing, Prototyping, User Interface Design

Feedback loops

Cross-functional reviews with Management, Product, Software and Marketing teams for alignment

Tools

Figma, FigJam, Sheets

Duration

2 weeks

Executing the Design Phase

Facilitated stakeholder presentations and cross-functional alignment discussions.
Mapped and ideated referral features and user flows tailored to distinct behavioural segments.
Sketched early design concepts by collaborating with UXW and UI functions to explore ideas and user flow variations with stakeholders.
Created low-fidelity design wireframes to define structure, interaction patterns, and information hierarchy quickly.
Developed high-fidelity design prototypes to simulate real user interactions and prepare for usability testing.
Designed the user interface with visual clarity, consistent branding, and scalable UI components for implementation.
Recruited users and ran usability tests to validate design direction and surface key friction points.
Monitored referral funnel metrics bi-weekly and proposed an iterative roadmap for continuous improvement.

Solutions

Contextual referral entry points

Dashboard to track referrals and corresponding rewards

Simplified messaging with visual cues

Revamped value proposition in shareable content

Phase 3

Validation through Usability Testing

Methods Used

Unmoderated and moderated task-based usability tests

Feedback loops

Evaluate flow intuitiveness
Overall comprehension
Identify points of confusion

Tools

Google Meet, Figma (prototypes), Sheets

Duration

1 week

Executing the Design Phase

Recruited users and ran usability tests to validate design direction and surface key friction points.
Monitored referral funnel metrics bi-weekly and proposed an iterative roadmap for continuous improvement.
Presented outcomes to stakeholders and aligned cross-functional teams on next steps for rollout and ongoing optimisation.

Takeaways

Users the micro-animation of rewards getting credited to be

Improved clarity of reward messaging post-testing

Users didn’t fully understand when or how rewards would be credited

How UX Execution Contributed to Project Outcomes and Business Impact

Research Contribution

✅ Prioritised growth opportunities based on data, resulting in a 3.3× increase in referral loan approvals.

✅ Uncovered low awareness of the referral program and added contextual touchpoints that contributed to a 23% increase in referral feature visits.

Design Contribution

✅ Revamped and experimented with the value proposition in the shareable message that drove a 35% increase in referral acceptance rate, with more users motivated to act on the shared link.

✅ Simplified referral language and added visual cues, boosting comprehension and referral journey completion by 42%.

✅ Launched a referral tracking dashboard, increasing engagement and repeat program participation.

Learnings and Reflections

Power of the Prototype

Sharing early mobile prototypes directly on stakeholders’ phones created instant clarity and accelerated decision-making in the first iteration.

Early Alignment is Everything

Involving the Engineering and Product teams early during the sketching activity helped build shared ownership of outcomes.

Small Frictions Kill Big Funnels

Fixing overlooked micro-interactions, UX copies and animations had outsized impact on referral acceptance and loan approvals.

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