75% more Efficient Customer Registration for Twisto

Twisto is delivering a simple and fair daily financing solution to retail customers in the CEE region. The application allows one-click purchases on 900+ e-shops with the option to postpone the settlement. Twisto acquires its customers via online merchants with its “Buy now. Pay later solution”. The application is not connected to any bank account, which makes the process 100% safe. Its cutting-edge risk engine, Nikita is leveraging non-traditional data sources and machine learning for credit assessment, analyzing over 400 data points per transaction in milliseconds.

Image for Twisto

The scope of our involvement

Our Collaboration

Vacuumlabs has been involved in the Twisto project since the beginning of 2018. Our collaboration started with two developers and has now grown to a seven person team.

We helped Twisto provide instant point-of-sale credit and financing to users across Central and Eastern Europe. Consumers with a limited credit history - particularly young families, students, and freelancers - receive fair pricing for short-term credit, and merchants have improved their mobile conversion rates and increased order sizes.

Our team is leading the enhancement of the solution and embedded the Nikita risk engine in order to incorporate country-specific regulatory requirements and local payments. We have undergone significant code refactoring to improve the performance and response times of the initial solution, continuous feature innovation, and continual integration of new e-shops and 3rd party partners across different countries.

Engagement highlights

Pimped And Boosted by 75%

  • Code refactoringto improve performance and response times
  • Continuousfeature innovation
  • Continual integrationof new e-shops and 3rd party partners across different countries
  • Integrationof external tools like Exponea and Collectora
  • CRMimplementation for due payment requesting
  • Full Installmentsfeature built within 2 months
  • Apple Payintegration raised customer registrations multi-hundred times

Engagement highlights

Behind The Curtain

What were the fundamental expectations of the old system replacement?

  • Increase the success percentage of the early conversation phase
  • Achieve a higher level of automation of the whole process
  • Change the way information is passed on to external agencies (.csv vs. API)
  • Through the previous steps, be able to measure the efficiency of the processes in-depth, and understand customer behavior better
  • Build proportional models that allow Twisto to scale the portfolio without having to scale the team linearly
  • Apply different types of strategies to different types of clients
  • Prepare for the integration of more advanced telephony and have the ability to significantly increase customer calls

What have we achieved so far?

  • Due to the automation of processes, Twisto can saves thousands of EUR per month on operational expenses (currently around 5k EUR)
  • Since the external tool, Collectora has been implemented in order to automate the due payment collecting process, Twisto has achieved a higher cure rate (more debts have been repaid)
  • By integrating the Collectora CRM, the system is connected to executors directly, debts are sent automatically to agencies who are related to the debt collection
  • The Collectora tool also helps with the automation of filing a court case for a client, if necessary, and an additional feature has been implemented with the possibility to export all related documents in a zip file for each court case
  • Thanks to the API Twisto can avoid manual mistakes

Let’s build your digital product together now