Revolut Activation Funnel: Plan a 15% Lift from Sign-Up to First Outgoing Payment

You are a product manager at Revolut. Revolut's onboarding journey starts when a new customer signs up and ends when that customer makes their first outbound transaction. You have the next three to four months to improve this flow by 15%. Explain how you would find where new customers are lost, what you would change, how you would prioritize the changes, and how you would show that you reached the target. ```hint List the regulated steps A finance app has steps between sign-up and a first payment that a typical consumer app does not. Write them out, then look for the ones where you can both measure the loss and change the experience within a few months. ``` ### Clarifying Questions - What does "improve by 15%" mean: a 15% relative lift in the share of sign-ups who make a first outbound transaction, a 15-point absolute lift, or a 15% shorter time to that first transaction? - Which transactions count as outbound: card payments, bank transfers, payments to other Revolut users, or any money leaving the account? Within what time window after sign-up is it counted? - Which customers and markets are in scope: personal accounts only or business accounts too, and one country or all of them? - Can the team change regulated steps such as identity verification, or only the experience around them? - Do we already know which step loses the most new customers, or is finding the leak part of the task? - Which company goal should this lift serve: more activated customers, more transaction volume, or more subscribers to paid plans? The answer changes which bets come first. ### What a Strong Answer Covers - A precise success metric with a baseline and a cohort window, and a plan that accounts for how long a cohort's result takes to mature. - A funnel broken into Revolut's actual steps, with the largest losses located by segment and by cause. - Interventions sized against the 15% target, ranked by impact, confidence and effort, and deliverable within three to four months. - An experiment plan with guardrails on fraud, compliance, cost and the quality of the customers being activated. - The trade-off between removing friction and keeping the controls a regulated financial company needs. ### Follow-up Questions - Halfway through, the experiments you have shipped cover less than half of the target. What do you do with the time left? - The biggest loss turns out to be identity verification, and the compliance team will not relax the checks. How do you still move the number? - First transactions rise, but many of the new customers never make a second one. Is that success, and would you change the metric? - The data shows the largest loss after identity verification is approved and before the first transaction: the account is open but empty, and the customer has no obvious first task. Which of your bets move to the top, and what would you add? - The interviewer widens the funnel: it now starts at app install, before sign-up, and ends at a customer who transacts repeatedly during the first month. What changes in your metric, your diagnosis and your priorities?