QuickCheck is a fast-growing fintech startup based in Lagos, Nigeria. They provide financial services to entrepreneurs by leveraging artificial intelligence to offer app-based neo-banking products.
“We use machine learning to predict borrower behavior and instantly evaluate loan applications,” explains Luís Rodrigues, the CTO and Head of Product at QuickCheck. “We aim at offering digital financial services to move our clients closer to their personal and business goals.”
The QuickCheck mobile app has been downloaded by more than 2 million people and has processed over 4.5 million micro-credit applications.
QuickCheck implemented Mixpanel in 2020 so the team could gain an understanding of how customers use their product. Before Mixpanel, despite tracking in-app events, their existing stack of Business Intelligence tools didn’t give QuickCheck the cohort-level views they needed to optimize their user onboarding funnel.
They originally chose Mixpanel for its powerful offering at a flexible price, as they were at the very beginning of their scale-up phases. But, Rodrigues says, they quickly realized they had found even more than they bargained for.
“From Day 1 that this tool delivered invaluable insights for our product decisions.”
Today, the Product, Development, and Growth Marketing teams at QuickCheck use Mixpanel on a daily basis to drive product initiatives drawn from the way users interact with their app. They have 30+ monthly active users leveraging Mixpanel to validate their hypotheses.
After 2 years of working with Mixpanel, the QuickCheck team felt like they could go even deeper with their user and onboarding insights. They decided to connect with a Mixpanel Expert to unlock even more value.
QuickCheck reached out to Human37 for expert guidance on how to optimize their Mixpanel implementation. Human37 was the right fit as they specialize in working with organizations to enhance customer experiences using product data.
Unleashing the true power of your data takes a clear vision of your business goals and the milestones needed to reach them. Human37 finds the signal in the noise for their clients, and turns data into actionable insights and recommendations to improve the efficiency of customer journeys.
Rodrigues admits that the QuickCheck team was a little skeptical at the beginning. “There are so many consulting companies with big claims out there. But when it’s time to dig into granular technical aspects, they get lost and become confusing, without delivering any value.”
Human37 came as a pleasant surprise. “They impressed us with their deep level of knowledge of Mixpanel and its configuration,” Rodrigues says, pointing to the implementation partner’s “focus on the business aspects of the QuickCheck product.”
Human37 started by working with QuickCheck to articulate the core business objectives behind their use of Mixpanel. This exercise moved the highly technical QuickCheck team away from a purely tech-driven mindset to a more holistic understanding of how product data could deliver real business results.
Once Human37 understood what QuickCheck was trying to do with Mixpanel, Human37 analyzed their current implementation. They quickly spotted issues with how QuickCheck had mapped in-app events within Mixpanel, and provided specific suggestions for improvements around:
“We learned we had duplicated users because of wrong implementations of the alias API and that we were tracking way too many events,” says Rodrigues. “Both these issues created problems for our various product teams.”
Within just 3 weeks from the kick-off, Human37 had understood and delivered recommendations on how to improve QuickCheck’s Mixpanel implementation, with an immediate impact on QuickCheck’s product analytics usage.
Human37 made sure that QuickCheck saw immediate short-term value, while also building a solid foundation of product analytics in Mixpanel that would support their long-term growth.
What can QuickCheck do now?
Although QuickCheck was already using Mixpanel to discover product-market fit, working with Human37 let them level up the quality of their user behavior tracking.
“It became a lot easier to create funnels for all our products,” says Rodrigues. In particular, the QuickCheck team has improved their user onboarding funnel, reducing 30% of their time to conversion, by removing a couple of steps where users used to drop heavily.
Today, QuickCheck can use Mixpanel to answer key business questions on a daily basis. The team uses Mixpanel’s powerful, self-serve product analytics to monitor metrics critical to product-led growth:
- The conversion rate for each funnel
- Time to convert
- User journeys most likely to result in conversion