New feature in a B2C product
Qred Bank offers loans and cards in a quick and easy manner to MSMEs. Around 30,000 users across 7 EU countries enter the onboarding funnel every month.
My role in Acquisition
My role in the the Acquisition team is to reduce drop-off across the onboarding funnel which would increase the number of loan/card applicants, thereby adding to the revenue.
Problem Statement
Insignificant number of card applications compared to loan applications. 10k card applications all time compared to 30k loan applications per month. But unlike loans, the cards are present only in 3 of the 7 markets that Qred operates in.
Our Goal
Increase revenue by scaling Qred’s credit card to applicants who are applying for a loan. The goal is to provide users seeking a business loan with the opportunity to apply for a card with the goal of at least a 10% opt-in for the cards.
First Design Decision
We chose Option A — introduce the card offer earlier in the flow, integrated alongside the loan journey, to establish value context before users reached later decision-heavy steps.
Validation & Iteration
We achieved a 23% opt-in rate for the Qred Visa card, thereby surpassing our goal by 13%. However, our Guardrail metrics (which included the Loan completion rate and Application abandonment rate) were negatively impacted but fortunately not in a significant manner. The main reason behind the decrease is the introduction of another product in our loan onboarding.
Based on stakeholder reviews, we decided to change the microcopy of the step to focus more on the free aspect of the card.
Outcome
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