Easy Equities needed to make sense of the data of its 250 000clients with multiple account types. It required data aggregation and data integration components for all its systems to track client's current lifecycle, trading and investment history, and activities.
Easy Equities has partnered with Synatic to create data aggregation and data integration components for all the systems it uses to track clients current lifecycle, trading and investment history and activities.
Tristan Finnemore, Purple Group VP Digital Assets, says unlike traditional equity brokers, Easy Equities doesn’t have any minimum investment amounts or any platform fees, or minimum trade charges. "Typically the high entry level requirements make it difficult for people to start their investment journey."
“The challenge was to aggregate all our data and present it in a meaningful format to understand what is happening with each of our clients individually as well as a group. Our challenge was to give the same level of customer experience to all our clients, regardless of the investment size,” he explains.
Easy Equities built a platform that caters for all investors, young and old, regardless of their wealth. Attracting investors big and small, from a mere R5 to millions of Rands, it has just exceeded 250 000 clients with nearly 300 new clients per day.
“We had to improve our systems to better communicate and improve our customer experience. We were using a few third party tools for marketing automation (HubSpot) and help desk software (Freshworks). The problem was that they weren't integrated and we couldn't get full use of these tools without full integration to our solution,” he says.
Finnemore says the first project was to integrate HubSpot into the core Easy Equities solution stack. “It was a once-a-day integration. The Synatic solution would have access to all our databases once a day where the solution would aggregate data and push it into HubSpot. This would allow the marketing team and automation systems to know the exact activity on each client, and build workflow around the current client activity, and what they are doing within their portfolio.”
“Initially, once a day aggregation was sufficient, but we have since been enhancing the integration points and workflows so as to help us reduce the time between data updates to every couple of hours. 250 000clients with multiple account types is a massive number of records and a lot of data processing,” he explains.
Synatic developed similar integration for Freshworks for service automation by integrating data. Instead of increasing the help desk support staff, it now has service bots as a frontline support structure.With tech, Easy Equities can solve frontline support through the APIs, and can now service clients without human intervention.
Synatic has developed an automated push notification service into the Easy Equities mobile app using the same data structure that was built for HubSpot and Freshworks. The notifications range from a client's birthday to a dividend pay-out.
Synatic has also built a tool that enables Easy Equities to aggregate and display all client information seamlessly while software updates are being done. Previously this information wasn’t available during updates.
Synatic has helped Easy Equities streamline its loyalty programme.Thrive enables clients to qualify for a free brokerage status by performing certain activities.
“As a fluid business, we are forever changing and improving. New ideas are constantly being born and Synatic is always there to deliver. They have always performed above expectation,” he concludes.