Dynamic Pricing Platform for Global Financial Services
The Challenge
A global leader in cross-border money transfers faced declining Customer Acquisition and Retention KPIs (approximately 4% downtrend) with QoQ revenue shrinking for Digital Channels. They needed to build a global solution for dynamic pricing based on user behavior to drive transaction completion, with pricing adapting based on user type (existing or new) and geo-location (send country).
Our Solution
Nidus built and hosted a cloud-based dynamic pricing solution. The technology implementation involved building a schema for foreign exchange with fees mapped to countries using different pricing weights. Data was loaded from Cassandra database and moved to Redis cache for faster response. Business users were provided a user interface to initiate pricing campaigns, with real-time integration to refresh FX from exchanges, settlement, and accounting systems.
"We are incredibly pleased with the results of our partnership with Nidus Technologies. Their expertise and dedication played a critical role in the success of this project."— Program Director
Key Results
- 6% increase in acquisition of new users
- 7% increase in customer retention
- $20M annual revenue increase in first year
- Real-time dynamic pricing capabilities