Building Trust and Driving Revenue Growth with Fintech Messaging

Mobile users demand seamless, secure, and personalized experiences—and those expectations exist for even the most trivial apps on the home screen. The fintech industry is held to an especially high standard and one that’s not likely to get any more forgiving.

Over the last 10 years, fintech has experienced a surge in both investment and users, with a forecast of nearly 5 billion users by 2028. Despite this growth, however, user investment activity has actually declined in recent years. In fact, 2023 recorded the lowest number of investments (and value of investments) since 2017. While larger economic factors, like rising interest rates, are certainly at play here, long-term success in fintech hinges on user trust now more than ever before.

Omnichannel messaging has become the name of the game for fintech apps, which prioritize long-term user loyalty while driving revenue growth.

Below, we’ll explore how fintech apps can harness messaging strategies inspired by successful implementations from fintech giants Bitcoin.com, Buenbit, and TapTap Send.

1. Earning User Trust with Immediacy

Let’s start with baseline transparency. Users need to feel confident that their transactions and account activities are secure and transparent. Real-time alerts play a pivotal role in providing that reassurance. But like everything else in fintech, implementation is easier said than done.

Growth Product Manager for Bitcoin.com, Daria Dovzhikova, explains:

“We constantly send price alerts to notify users about market movements. Every time we did this with Firebase, we were risking damaging our backend because as soon as we sent it [a notification], a lot of people started opening the application. The application starts asking the servers about the current balances and current prices, and that’s how we can damage the backend or even crash it. So we had to split the database somehow.”

They found their workaround with OneSignal’s Message Throttling feature, a small but critical component that empowered them to control the number of messages sent per minute and successfully align traffic volume with server capacity.

Instant Updates: The Key to User Confidence

With a solution in place, Bitcoin.com’s product and marketing teams looked to expand their messaging strategy and communicate more directly with engaged users.

Automated onboarding flows, educational campaigns, breaking news alerts, and real-time market price updates now provide users with immediate, valuable information in a completely proactive way.

As they continue to add new functionality, such as shared wallets, real-time alerts have become an irreplaceable stepping stone to earning user trust.

When one user starts a transaction, the recipient on the other end must sign it. With OneSignal’s automation, that recipient receives a mobile push alert that they can tap and automatically fulfill the transaction.

Why it Works:

Real-time alerts demonstrate that your app reliably removes the barrier of uncertainty when it comes to the timing of market fluctuations. By keeping users informed about critical updates, you build confidence and increase app usage, as users feel secure managing their finances through your platform.

For Bitcoin.com, on price alert days specifically, the growth was measurable:

• Avg. Daily Transaction Attempts: +8% vs. non-notification days
• Avg. Daily Completed Transactions: +9% vs. non-notification days
• Avg. Daily Swap Attempts: +18% vs. non-notification days
• Avg. Daily Confirmed Swaps: +14% vs. non-notification days

Read Bitcoin.com’s full story to see how they secured independence for their non-technical teams and increased their product value in the process.

2. Protect User Privacy with Two-Factor Authentication

Security and privacy are paramount in the FinTech world, where users entrust apps with sensitive financial information. Implementing and promoting Two-Factor Authentication (2FA) can greatly enhance security perceptions and protect user accounts.

Encouraging 2FA Adoption Through Multichannel Journeys

Buenbit prioritized user security by creating an automated Two-Factor Authentication (2FA) Journey. Here’s how it works:

• User segments are created in Mixpanel, separating those who have activated 2FA from those who haven’t.
• A messaging workflow of five push notifications is sent on a weekly basis to remind users to complete their 2FA setup.
• Users who complete the process automatically move to a new cohort and exit the Journey.

Buenbit’s notifications stand out with playful headlines, engaging emojis, and a clear sense of urgency. As the Journey progresses, the messages highlight various reasons why enabling 2FA is essential, such as protecting sensitive information and securing assets.

Our Mobile Engagement Playbook offers dozens of example Journeys (across all channels), giving you a fantastic look at just how powerful the right message at the right time can be.

Why it Works:

Proactive messaging around 2FA not only safeguards user accounts but also builds trust by demonstrating your app’s commitment to security. Encouraging users to take steps to protect their accounts fosters a sense of partnership, reinforcing their confidence in your platform.

Learn how Buenbit achieved a 30% uptick for in-app transactions directly attributed to OneSignal messaging in their full case study.

3. The Path to Revenue Growth Starts With Onboarding

A seamless and informative onboarding process ensures that your users instantly grasp your app’s value proposition. This first touchpoint also provides an opportunity to reassure users about data security, guide them through complex features, and highlight personalized benefits like tailored investment opportunities.

Research shows that apps with effective onboarding see significantly higher retention rates, with users more likely to engage frequently and adopt premium features or subscription plans. In fact, apps that send onboarding messages have 24% higher install-to-purchase conversion rates.

Winning the First Impression

Taptap Send leverages nearly every channel at its disposal to effectively “unblock” new users before they encounter common points of friction that can potentially lead to churn.

CRM Specialist Traci Trang explains:

“We use Journeys when we want to engage with users in a more comprehensive way and we want to reach them at different points in time and channels…so it’s not a one-off thing — it needs to be a constant effort, which is why Journey comes in as a very effective tool.”

Read the full Taptap Send case study here to see how they scaled their messaging strategy to reach and support new markets.

A multichannel approach also ensures users receive critical information promptly, regardless of their preferred communication method. This reduces the risk of fraud or misunderstandings and reinforces your app’s credibility. Buenbut accomplishes this wonderfully with its cross-channel onboarding Journey.

Lastly, the onboarding flow below from Bitcoin.com is a wonderful example of how thoughtful design and automation work together to attract new users from the start and guide them toward success.

Their team was especially inspired by OneSignal’s Amplitude integration and the possibilities that came along with it.

“We wanted to automate the onboarding process and build out automated flows based on user behavior. For instance, if a user indicates that they want to buy some crypto, we want to automate the buy and sell messaging process so that we can better assist them during all of this.”

Why it Works:

By leveraging mobile messaging automation and multichannel messaging, fintech apps ensure users receive timely, personalized guidance, reducing confusion and frustration. This approach not only reinforces trust but also fosters a sense of reliability and accessibility, encouraging users to explore features and make meaningful interactions.

When users feel supported from the start, they’re more likely to stay engaged, adopt premium offerings, and build a long-term relationship with your app.

Elevate Fintech Messaging with OneSignal

The fintech industry’s rapid growth demands innovative strategies to build trust and drive revenue. When executed thoughtfully, omnichannel messaging is the key to meeting these challenges.

As a seasoned partner to fintech apps like Bitcoin.com, Buenbit, and TapTap Send, we are well aware of the impact the right message at the right time can make. From real-time alerts to automated Journeys, OneSignal provides the tools and integrations fintech apps care about most.

If you’re interested in trying us out for free, we have good news. Our Free Plan includes:

• Unlimited mobile push
• 10,000 free email sends per month
• Access to quickstart Journeys
• Much more