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As a Product Manager for South Korea's No.1 Fintech application with 30 million users, I immersed myself in finding ways to make the lives of all citizens more convenient. In an effort to make accessible to all the convenience brought by technology, I removed the barriers of login/sign-up, expanded service channels from mobile application to PC and offline, and open up investment opportunities which were previously limited to the wealthy to everyone.

In order to overcome technological constraints, I integrated various technologies such as blockchain and cloud computing. Furthermore, I actively persuaded the government to innovate in areas where policy limitations existed and eventually gained recognition. All these efforts were directed towards bringing about a positive change in the lives of all citizens.

Selected projects

Background

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The replacement cycle for mobile phones is approximately 30 months.

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Toss users are required to reinstall the app every 30 months due to device changes.

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After reinstalling the app, more than 30% of attempted logins result in user dropout during the login process.

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Simplifying the login process after app reinstallation can reduce dropouts and consequently increase the Monthly Active Users (MAU) of the Toss app.

Planning

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In the registration process, there was three essential steps: CI (Customer Identification) verification, device possession authentication, and PIN password verification.

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Device possession authentication is necessary for real-time device security and cannot be omitted.

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The PIN password is a minimum security requirement and cannot be skipped.

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To verify CI, Toss application require user information input and identity verification through a verification agency.

One click login

Toss already has 30 million registered users. This means that most of Korea's 40 million mobile users are using it.

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However, Toss' Carring-Capacity has been stagnant for three years.

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Are there a lot of users leaving? When I looked into it, it wasn't that big. So, is retention low? Due to the nature of the financial app, the retention rate was 50%, and on a MoM (Month of Month) basis, it was 85%, meaning users were using it very actively.