Rewire is an online financial services platform that develops global banking solutions for international workers, specifically migrants, helping them manage their finances in their country of residence alongside their country of origin. Rewire powers an online banking service with enhanced and cost-effective functionalities to help its users deposit salaries, apply for a debit card, transfer money and track expenses and more, all with just a few taps on their user-friendly app.
- August 2019: Rewire launched its digital banking platform for migrants living in 21 countries across Europe.
- January 2020: Rewire reported a 40% continuous monthly growth rate across Europe.
- June 2020: Rewire won the Fintech category in the 2020 Extreme Tech Challenge (XTC) competition.
With an increasing number of newly registered users, Rewire’s main challenge was to better understand how their users came to hear about their app, with the end goal of further optimizing their ad campaigns and marketing efforts. Rewire also needed more clarity in measuring and understanding the virality factor of certain key markets marked by a large number of registered platform users, so as to reach a decision whether they should continue to promote their competitive referral program.
Utilizing Segmanta’s platform, Rewire embedded a professional branded survey inside a welcome email, reaching newly registered users to their app. With a staggering response rate of 87%, Rewire discovered that 50% of organic registrations came from users who were referred to the platform by a friend, constituting the main source of their organic acquisition. Surprisingly, only 35% of those were aware of the loyalty program offered. Through the smart usage of Segmanta survey capabilities, Rewire was able to gather invaluable insights about their organically registered users, mapping them according to their country of origin, field of profession and current location.
With the ease-of-use of Segmanta’s analytics dashboard and automatic collaboration tools, Rewire was able to draw actionable insights about the pain points of each individual consumer, along with obtaining in-depth knowledge about organic user growth trends. Utilizing these comprehensive insights, Rewire was able to gain a broad perspective on community trends and virality factors, helping them optimize their acquisition and targeting strategies which resulted in the creation of personalized promotions for their loyalty program and a surge of new sign-ups.
“As a customer-focused startup, it’s important that we not only understand our customers individually but also as a group. Using Segmanta allows just that. Now, we are able to understand a single user’s pain point and gain a broad perspective on community trends at the same time.”