Banza is a savings and investment app from the financial group Adcap, created with a clear goal: to make investing in the capital market more accessible and user-friendly for people with no prior experience. From the beginning, Banza understood that achieving this mission required making data-driven decisions, leading them to implement Amplitude—a key tool in transforming their business processes and optimizing the user experience.
Overcoming Limited Visibility into User Behavior
In its early days, Banza lacked key metrics such as active users, activation rates, and critical onboarding steps. This prevented them from fully understanding how users interacted with the app and identifying friction points in the user journey.
Without an advanced analytics system, decisions were based more on intuition than concrete data, limiting the platform’s growth and optimization potential.
The Solution: Amplitude as the Engine of a Data-Driven Organization
With the implementation of Amplitude, Banza not only began measuring every stage of the user journey but also adopted a fully data-driven approach.
Key Benefits Achieved:
- Onboarding Optimization: Identified high-dropout points and redesigned the flow, increasing the percentage of users completing the registration process.
- Improved Investment Flows: Through detailed analysis of the most visited investment instruments and user segmentation, they redesigned screens to make the process more user-friendly and efficient.
- Growth in Key KPIs:
- Average ticket size per user: Increased by 70%.
- Activation rate: Grew by 20% to 30%.
- Average ticket size per user: Increased by 70%.
Personalization and More Effective Campaigns with Amplitude
Advanced Segmentation for More Precise Communication
Amplitude’s cohort functionality allowed Banza to segment its user base by interests, activities, and demographics. This enabled them to:
- Run personalized push notification and email marketing campaigns.
- Refine acquisition strategies, improving ad campaign efficiency.
Workflow Automation via Integration
Banza integrated Amplitude with its CRM to trigger event-based workflows:
- Automated workflows: For example, if a user completes specific actions in sequence, a personalized message is automatically triggered.
- Customized events: Using Amplitude’s API, they scheduled and sent specific events from their database, expanding their analytical and action capabilities.
Custom Dashboards to Empower Teams
Amplitude allowed different Banza teams—marketing, CX, growth, and product—to access custom dashboards without requiring constant technical support. This democratized data access and enabled teams to make real-time informed decisions.
Some of Their Key Results:
- 70% increase in average ticket size per user.
- Up to 30% increase in user activation.
- More efficient and user-friendly onboarding and investment processes.
«Implementing Amplitude allowed us to increase the average ticket size per user by 70% and improve 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 played a key role in ensuring a successful Amplitude implementation and maximizing its use. From the beginning, they provided detailed training sessions to help Banza teams get the most out of the tool.
Highlights of Minders’ Support:
- Initial and ongoing training sessions.
- Support across multiple channels (Slack, Jira, email).
- Quick responses and effective solutions.
Conclusion
Thanks to Amplitude and the strategic support of Minders, Banza not only optimized its internal workflows but also improved key metrics and enhanced the user experience. This success story clearly demonstrates how advanced analytics and a data-driven approach can transform an organization and position it as a leader in its sector.
For any company looking to make data-driven decisions and drive continuous improvement, Banza’s journey proves that the combination of powerful tools like Amplitude and reliable support from Minders is the key to success.
📺 Watch the full story here: YouTube Video
