Banza is a savings and investment app from the Adcap financial group, born with a clear goal: to make investing in capital markets more accessible and enjoyable for people with no prior experience. From the beginning, Banza understood that achieving this mission required data-driven decision-making, leading them to implement Amplitude—a key tool for transforming business processes and optimizing the user experience.
Improving Limited Visibility of User Behavior
In Banza’s early days, they lacked key metrics such as the number of active users, activation rates, and critical onboarding steps. This hindered their ability to fully understand how users interacted with the app and which areas of the flow needed improvement.
Without an advanced analytics system, decisions were based more on intuition than concrete data, limiting the platform’s potential for growth and optimization.
The Solution: Amplitude as the Engine of a Data-Driven Organization
By implementing Amplitude, Banza not only began tracking every stage of the user journey but also adopted a fully data-driven approach.
Key benefits obtained:
- Onboarding optimization: They identified major drop-off points and redesigned the flow, increasing the percentage of users completing the registration process.
- Improved investment flows: Through detailed analysis of the most visited instruments and segmentation by user type, they redesigned screens to make the process more user-friendly and efficient.
Increase in Key KPIs:
- Average ticket per user: Increased by 70%.
- Activation rate: Grew by 20% to 30%.
Personalization and More Effective Campaigns with Amplitude
Advanced Segmentation for Precise Communication
Amplitude’s cohort functionality allowed Banza to segment its user base into specific groups based on interests, activities, and demographic characteristics. This enabled them to:
- Direct personalized push notifications and email marketing campaigns.
- Refine acquisition strategies, making ad campaigns more efficient.
Automated Flows Through Integration
Banza integrated Amplitude with their CRM to implement event-based triggers:
- Automated workflows: For example, if a user performs certain actions in sequence, a personalized communication is automatically triggered.
- Custom events: Using Amplitude’s API, they scheduled and sent specific events from their database, expanding analysis and action possibilities.
Tailored Dashboards to Empower Teams
Amplitude enabled different Banza teams—marketing, CX, growth, and product—to create custom dashboards without relying on constant technical support. This democratized data access and made it easier for each team to make real-time informed decisions.
Key Results Achieved:
- A 70% increase in average ticket per user.
- Up to a 30% increase in user activation.
- More efficient and user-friendly onboarding and investment processes.
«Implementing Amplitude allowed us to increase average ticket per user by 70% and user activation by 20% to 30%, transforming us into a truly data-driven organization.»
— Augusto Diaz, Data Lead at Banza
The Impact of Minders
The Minders team was instrumental in ensuring a successful Amplitude implementation and maximizing its usage. From the start, they provided detailed training to help all Banza teams make the most of the tool.
Highlights of Minders’ Support:
- Initial and ongoing training.
- Support across multiple channels (Slack, Jira, email).
- Quick responses and effective solutions.
Conclusion
With Amplitude and strategic support from Minders, Banza not only optimized its internal flows but also significantly improved key metrics and delivered a superior user experience. This success story is a clear example of how advanced analytics and a data-driven approach can transform an organization and position it as a leader in its sector.
