3 min read

How N26 doubled the sign-up conversion rate (Enzo Avigo, Co-founder at June)

How N26 doubled the sign-up conversion rate (Enzo Avigo, Co-founder at June)

Onboarding is a key stage for product growth. This is where the biggest potential often lies.

Onboarding in Fintech is especially challenging due to legal complexity & compliance procedures. You need to ask your customers dozens of questions and that's the stage where most of them abandon.

Enzo Avigo (former PM at N26, now co-founder of June.so), told at Epic Growth SUMMIT what they did with onboarding at N26 and how they managed to almost double their registration conversion rate.

What do we mean when we say onboarding? It's a bunch of questions that follow right after we go through the marketing page, and before the user starts using the product itself.

Why did they decide to work on onboarding in the first place?

  • At that stage, growth was more important than profitability. And in order to grow, you need sign-ups;
  • They "crossed the chasm" in the sense that it was no longer just the early adopters who signed up for the product. So they had to put more effort into getting the users to finish the sign-up process;
  • Their value proposition was that they were able to deliver an instant experience to their customers. At the same time, the onboarding at that point was rather clunky. Kind of a mismatch. They knew that if they will be able to tackle this problem and deliver some early "aha-moment" or delighting experience, it would help make the customers stay.

Here are some things which worked best

1. Re-order the steps from the easier ones to the harder ones

Before: they asked for the date of birth, then the phone number.

After: they started asking first for the phone number, then the date of birth.

It turned out that leaving in a phone number for a user is easier than fill in his date of birth. A more simple question allows you to hook people. And when they have already started investing in onboarding, they are more likely to finish it. So that increases the overall conversion rate.

Fields that were put off as much as possible:

  • Gender. It can be hard for people to communicate their gender. Perhaps because in legal terms there are only two genders, while many people identify with some other. Or maybe it just feels rather personal.
  • Email. It's complicated, you have to type "@", you can make a typo, etc.

2. Nail the biggest drop.

The biggest drop was where people were asked to put their tax numbers. They had to go somewhere, look for this thing, switch between the apps, etc. Too complicated.

They allowed users not to fill it out right away. And then chased the user for 2 weeks and reminded them about it.

It was a big project. For example, they had to get success teams involved who would call clients. And it was painful. But it was worth it because it gave a huge boost.

3. KYC time opt-in.

KYC (Know Your Customer) is a legal requirement in fintech banking where you have to confirm your customer's identity by making a call to the customer.

There were a bunch of problems with these calls. People weren't picking up their phones, they had a bad connection, etc.

N26 made a time picker so that people would choose a convenient time to call them. They also asked if their connection was okay, and only called if it was okay.

In addition to increasing conversions, it also made the infrastructure cheaper, because calls cost money, even if they don't get through.


Overall N26 made 10+ experiments which led to the increased sign-up conversion from ≈35% to ≈60%.

More things which worked — in Enzo's talk at Epic Growth SUMMIT. You can access and watch other Summit sessions for free with our 7-day trial.

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