Niyo Doubles Click-Through Rates and Improves Customer Retention with CleverTap

SAN FRANCISCO, CA & MUMBAI, Nov 28, 2024 - (ACN Newswire) - Niyo, India’s leading fintech startup, teamed up with CleverTap, the all-in-one engagement platform, to improve customer experiences through personalized engagement and real-time interactions. Since its founding in 2015, Niyo has been revolutionizing financial services in India, particularly with its international travel cards and app-based financial services, catering to the evolving needs of its users.

In its almost decade-long journey, Niyo recognized the challenges that modern Indian travellers face at every touchpoint while venturing abroad. It sought a feature-rich user engagement platform that would effectively deliver the right solutions to its customers and found the ideal partner in CleverTap. By leveraging CleverTap’s advanced automation tools, Niyo enhanced its onboarding processes, while ensuring compliance with regulations, and streamlining customer experiences. This collaboration empowered Niyo to reduce drop-offs during the customer journey, automate personalized messages, and re-engage dormant users.

By deploying CleverTap’s integrated platform, Niyo achieved:

・2x increase in click through rates, leveraging Clever.AI for emotionally intelligent content.
・40% optimized conversion rate through pinpoint targeting, ensuring personalized and relevant communication at every step.
・12% re-engagement of dormant users through targeted campaigns, highlighting Niyo’s success in winning back inactive customers.

Sushanth Ravikumar, SVP - Head of Marketing,  Niyo, said - “At Niyo, delivering a seamless and personalized experience for our customers is a top priority. CleverTap has been instrumental in elevating this experience. Its robust automation and communication tools have streamlined our onboarding process while maintaining compliance in the highly regulated sector. What started as a tool to streamline everyday operations has become a key force in helping us preserve customer trust, even during challenging times. Its ability to adapt to real-time shifts in customer engagement offers us a definitive edge in an ever-changing dynamic, solidifying our long-term confidence in the platform.”

Sidharth Pisharoti, Chief Revenue Officer, CleverTap, said - “We are excited to collaborate with Niyo as they continue to innovate in the travel fintech space. Through our partnership, we’ve been able to enhance Niyo’s customer engagement by focusing on delivering personalized and timely experiences. This has not only streamlined their processes but also improved customer satisfaction, particularly in key areas like onboarding and transaction management. We look forward to supporting Niyo as they scale and evolve their offerings in this dynamic market.”

About Niyo 

Niyo is India’s leading banking fintech that has revolutionized "travel banking" for Indians. The company was co-founded by banking veteran Vinay Bagri (currently, CEO) and technology veteran Virender Bisht (currently, CTO) in 2015. Niyo offers zero forex debit and credit cards, which provides the best banking experience and value for international travellers. This unique solution was invented by Niyo in 2015 and has helped over 2 million Indians by saving more up to 5% on their international transactions with Zero Forex offering.  In this last Series-C round in 2022, Niyo raised $130 million, which was led by global VC and PE firms, Accel, Lightrock, and Multiples. Its other investors include Prime Venture Partners, Horizons Ventures, Tencent, JS Capital, Social Capital, and Beams Fintech Fund. Niyo operates out of a corporate office in Bengaluru and has a sales presence in more than 20 states and union territories.

Visit: GoNiyo.com

About CleverTap

CleverTap is the leading all-in-one customer engagement platform that helps brands unlock limitless customer lifetime value. CleverTap is trusted by over 2000 brands like Decathlon, Domino’s, Levis, Jio, Emirates NBD, Puma, Croma (A Tata Enterprise), Swiggy, SonyLIV, Axis Bank, AirAsia, TD Bank, Ooredoo, and Tesco, to help build personalized experiences for all their customers. The platform is powered by TesseractDB™ – the world’s first purpose-built database for customer engagement, offering speed and cost efficiency at scale.

Backed by top-tier investors such as Accel, Peak XV Partners, Tiger Global, CDPQ and 360 One, the company is headquartered in San Francisco, with presence across Seattle, London, São Paulo, Bogota, Mexico, Amsterdam, Sofia, Dubai, Mumbai, Bangalore, Singapore, Vietnam, and Jakarta.

For more information, visit CleverTap.com or follow us on:
LinkedIn: https://www.linkedin.com/company/clevertap/  
X: https://twitter.com/CleverTap  

Forward-Looking Statements

Some of the statements in this press release may represent CleverTap's belief in connection with future events and may be forward-looking statements, or statements of future expectations based on currently available information. CleverTap cautions that such statements are naturally subject to risks and uncertainties that could result in the actual outcome being absolutely different from the results anticipated by the statements mentioned in the press release.

Factors such as the development of general economic conditions affecting our business, future market conditions, our ability to maintain cost advantages, uncertainty with respect to earnings, corporate actions, client concentration, reduced demand, liability or damages in our service contracts, unusual catastrophic loss events, war, political instability, changes in government policies or laws, legal restrictions impacting our business, impact of pandemic, epidemic, any natural calamity and other factors that are naturally beyond our control, changes in the capital markets and other circumstances may cause the actual events or results to be materially different, from those anticipated by such statements. CleverTap does not make any representation or warranty, express or implied, as to the accuracy, completeness, or updated or revised status of such statements. Therefore, in no case whatsoever will CleverTap and its affiliate companies be liable to anyone for any decision made or action taken in conjunction.

For more information:

SONY SHETTY
Director, Communications and CSR, CleverTap
+91 9820900036
sony@clevertap.com  

ASHMIT CHAUDHARY
Associate Consultant, Archetype
+91 8850752121
ashmit.chaudhary@archetype.co