How Airfox handles growth during difficult times
Despite the continuing pandemic and widespread economic uncertainty, Airfox has been fortunate in experiencing an explosion of growth with banQi this year:
- We saw an 83% increase in new banQi accounts early in the year (Q1 vs Q2)
- In July, we charted 93% user growth month-over-month
- We recently surpassed 1 million downloads on Google Play and an iOS version of banQi is now available for iPhone users from Apple’s App Store.
- To cap it all, last month banQi became one of the top-rated digital accounts on ReclameAQUI (the highly regarded Brazilian consumer protection agency). We earned RA1000 certification for customer service quality, a designation held by only 308 of 260,000 rated companies.
The RA1000 designation means a lot to us, because our customers are the guiding force behind our development strategy and our process for managing such tremendous growth over such a short period of time.
We believe in an open and innovative approach to the development of services for increasing financial inclusion — this is how we at Airfox are executing on our mission with banQi.
That’s why we’re continually exploring customer experience (CX) best practices and regularly holding virtual meetings with banQi users to hear directly from them about their needs, their preferences, and their experiences. We share ideas and tips on how best to utilize the app — what features work well, what could be improved, what matters most, and what capabilities could be extended. We don’t just send out surveys (though they have their place), we actually talk to people — and we listen to them.
Our aim is to develop a real relationship with our user base and ensure that relationship continues to inform our priorities as we grow.
We’re also continually seeking out ways to anticipate future customer needs and provide banQi users with the full benefits — as well as the security and protections — of reputable digital financial services.
This year, we’ve been aggressive in ensuring our customer data security and privacy protections comply with the framework outlined in Brazil’s General Data Protection Law or LGPD.
The LGPD is modeled on the European Union’s General Data Protection Regulation and supplies Brazil with a more comprehensive overall regulatory framework. Basically, LGPD defines the rights of data subjects, defines what constitutes personal data, establishes lawful data processing rules, obligates organizations to appoint a Data Protection Officer, and establishes the infrastructure to supervise, guide and enforce these protections and laws. Though there has been some delay in determining the precise day the LGPD will go into effect, we’ve been coordinating alignment with Via Varejo’s LGPD Implementation Program.
Both existing banQi users and the increasing numbers of new banQi users will continue to receive inclusive financial services, safe in the knowledge that as our customers, they are respected — and their data and privacy is protected.
