The mobile wallet app can be perceived as a productive tool for:
- Effective payment tracking (by hours, days, weeks, and months).
- Bonus issues monitoring.
- The data about the clients (geographical location, gender, age, preferences, etc.) getting.
- Information sourcing about the number of customers and their involvement.
- Behavioral groups creating and analyzing them.
- Personal data groups segmenting.
The digital wallet manufacturer (the Wallet Factory Company) also implemented into its white label product the opportunity to check in practice the RFM analysis tool, which is a good solution for all the data about customers gathering. The information can be depleted for special offerings and advertising campaigns formalization. RFM metrics analysis reflects the details about the customer’s occurrence of financial app use, the remoteness of the last visit, and the sum of spent costs. The specified platform shows advanced users and those, who tried the system for payments only once.
Thanks to the ABC analysis it’s easy to control the range of products, increase or reduce stocks, and find out what objects are in the greatest demand. The monitoring period can be chosen by the soft user and the company representatives ready to help with its adjustment.
Fast data analysis and testing of the new features
Cluster analysis helps to get the financial transaction data in real-time mode. Quick info upload and analysis of all the payments make it possible to create the groups of clients and implement an individual approach to them, this is a great step of the digital transformation. Moreover, the Wallet Factory performs the development processes by adding new options and periodical software updating. The adaptation of the product to the requirements of the customer’s business allows various options introducing into the system while allowing them to verify their functionality in practice.
If problems are discovered during testing, the team of professionals develops new solutions to fix the defects. The system is updated with new functions that are relevant both for the wallet (allowing it to adapt to the wishes of users) and for a certain type of industry. There’s no need for the business representative to pay the high price for the app usage. The financial issue is calculated in each case and depends on many factors, and the basic information about the white label product is represented on the official website, which can be visited by every potential customer. Naturally, looking at the dynamics of development, you can make predictions for the future and see the general progress trend.