Nedbank engages US-based AppsFlyer in digital push

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Big four bank Nedbank has partnered with US-based mobile analytics firm AppsFlyer to improve and measure the effectiveness of the bank’s mobile marketing campaigns and enhance user engagement on its digital platforms.

Nedbank is one of the biggest banks on the continent, with a network of branches across SA, Eswatini, Lesotho, Malawi, Mozambique, Namibia and Zimbabwe, as well as branches in Angola and Kenya.

Using AppsFlyer’s technology, Nedbank says it will now be able to consolidate data from its Web site and mobile app to provide a holistic view of marketing campaign performance across a range of digital platforms.

In a statement, the organisations say they will ensure this partnership operates in accordance with all applicable laws and regulations so that the best quality services and products are provided in accordance with the relevant legal boundaries of each region.

AppsFlyer is a privately held company founded in 2011 by Oren Kaniel, its current CEO, and CTO Reshef Mann. The company received its first funding from the Microsoft Ventures Accelerator programme.

In January 2020, AppsFlyer announced a $210 million series D funding round at a company valuation of $1.6 billion. The round was led by growth equity firm General Atlantic.

AppsFlyer notes the African financial app market has been rapidly growing month-on-month in downloads, especially during the pandemic.

According to App Annie Intelligence, financial app downloads grew by 6% in SA and 7% in Kenya, the San Francisco-based firm says, adding that another survey of Internet users revealed that just under one in four (24%) have switched or considered switching banks to get a better mobile experience.

Using deep linking, AppsFlyer points out it will enhance user engagement in the Nedbank Money app, Money App Lite and Avo by Nedbank app, by enabling effective and smooth remarketing journeys.

Nedbank will also use AppsFlyer’s audience segmentation tool, which enables users to precisely focus their remarketing efforts in order to improve retention and increase engagement.

Commenting on the partnership, Daniel Junowicz, managing director of Latin America and Africa at AppsFlyer, says: “With the pace at which the financial app market is growing in Africa, it is essential for banks to be present for their customers and pay attention to what they want and how they would like to be engaged.

“The app experience is an important part of how banks are engaging with customers and Nedbank is well-positioned to take advantage of this increased demand for an effective app experience. Our aim is to support them on that journey.”

Stelios Vakis, executive for Nedbank's Retail and Business Banking - Digital, says: “One of Nedbank’s strategic focus areas is delivering innovative market-leading client experiences.

“In order to deliver on this, we need to understand our customers better, improve customer engagement and stay relevant. AppsFlyer provides a platform to enhance our mobile marketing and allows us to take a human-centric approach to our marketing by understanding behaviour.”

Vakis adds that with more competitors emerging in the financial app market, it is imperative to provide customers with the best experiences and relevant products.

“Additionally, it is important for us as a business to measure cross-channel performance against marketing investment. Any business will find it increasingly difficult to measure return on marketing investment and to implement the right mobile marketing strategies without this type of integrated tracking and targeting capability.”

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