Zip's Data-Driven Revamp Drives 60% Increase in Additional Repayment Starts

Insight/Action/Outcome: Zip is a digital financial services company offering innovative and people-centered products. After switching to Snowflake, Zip's team integrated it with Amplitude, diving into customer journeys to make confident product decisions. Zip’s first insights came instantly, just in time to support their customers on Black Friday. The team relocated a button to facilitate additional repayments, increasing their customers' ability to start the journey of making an additional repayment by 60% and saving customers an equivalent of 4,000 days’ worth of time across the next seven months. Amplitude also identified additional data on users’ payment behaviors, empowering Zip to better support their customers in managing repayments and spending—all while giving them more flexibility and control in managing their finances.

Zip offers access to point-of-sale credit and digital payment services, connecting millions of customers with thousands of merchants across its core markets of Australia, New Zealand, and the U.S.

Since we launched over 10 years ago, we’ve grown from a buzzing fintech startup to a mature company serving millions of customers. Our strategic focus as a company is driving profitable growth, product innovation, and operational excellence. As the leader of data analytics for Zip, ANZ, I believe fast, relevant, and insightful data is pivotal to making this happen.

Empowered to empower

Through our partnership with Amplitude, we are better able to analyze customer behavior and track customer journeys across our digital and non-digital spaces. Our data empowers us to empower our customers to enjoy financial flexibility and control.

Partnering with Snowflake and Amplitude

We started working with Amplitude five years ago when we released our mobile app in Australia to help us track and understand our customers' journeys. Back then, we just weren’t taking advantage of all that Amplitude had to offer, partly because of the architecture that was initially put in place.

Switching to Snowflake about two and a half years ago greatly improved our use of Amplitude because the two systems work really well together. We were very considerate in the way we set up and governed our event data. The plan was simple: remodel the event streaming pipeline, funnel all our user events through Snowflake, and then use Amplitude to get insights.

Once we started getting new event data, new opportunities opened up for Zip and our customers. Now, we can track our customers’ journeys and see their progress in real-time. And here, I’ve got to shout out to a superstar on my team, Moss Pauly. He headed the original effort to bring in Amplitude and played a huge role in revamping and relaunching it for us.

60% Boost in additional repayment starts, saving customers 4,000 days

One huge aha moment occurred right before our peak season—around Black Friday and Cyber Monday— a crucial time for our customers looking to snag those once-a-year deals. We had just re-rolled out Amplitude to our product team. Our goal was to help customers free up their spending capacity to take advantage of the sales by improving their journey to make additional repayments. 

Using Amplitude Analytics to analyze customer journeys through our digital assets enabled us to discover an issue. It turned out that users had to scroll all the way down to find the additional repayment call-to-action button. This was a simple but important insight.

After spotting this, we teamed up with product and design to change this. During the month before Black Friday's peak sales period, we made the button easier to find. The results? Way better than we expected.

After a tweak in the app's user flow, to make the additional repayment feature easier to find, we saw a 60% jump in users directly locating the start of this journey. Now, customers have a much higher success rate of easily navigating to make an additional repayment.

As a result, additional repayment volumes increased, giving customers the extra spending room they needed in time for the sales. When we tracked how long it took for customers to go from wanting to repay to actually doing it, we realized that we’d saved our customers over 4,000 days - just over 11 years!

Collective efforts, superior product

Over 100 people across our Australia and New Zealand teams use Amplitude. It’s quick, intuitive, and perfect for unique analyses, creating customer segments, and tracking them via funnels or journeys. This is where Amplitude really shines. We’re also pumped to trial capabilities like Experiment, Session Replay, and the upcoming Amplitude-Snowflake integrations.

Personally, I'm always amazed at how Amplitude enables us to test ideas and validate or disprove them with real data. That’s how we make decisions at Zip—no blind guesses.

But the platform also empowers us to collaborate better across the board—product, analytics, marketing, operations and engineering. It’s a central hub for insights that’s easily accessible and comprehensive and offers numerous ways to visualize and track information. Thanks to Amplitude, everyone can now explore data, so together we can all make our product better every day.