“It’s a real pain to make even the smallest template changes”, says the head of engineering of a popular personal finance app that helps manage one’s money, intelligently. Transactional communication then becomes a vital aspect of companies like these with products ranging from mutual funds, stocks, fixed deposits, health insurance, personal loans, and credit line products. Their platform boasts of more than 850k active users and 12M+ users, and communication is a crucial aspect of their services.
However, template whitelisting is a real pain, and it requires constant effort to keep up with changing regulations and provider requirements.
The problem is compounded by the fact that there are multiple service providers in the mix, such as Gupshup, SCL, and Netcore, to aid communication. Whenever a new template is whitelisted, it has to be changed across all providers, and the change has to be approved by each provider. This process can be time-consuming, and it puts a significant strain on the limited resources of the engineering team, in particular.
To add to the complexity, they also offer a portfolio management service that provides and handles mutual fund portfolios. These portfolios also need to be communicated through email, which can contain sensitive data. Additionally, all transactions on the platform require OTP or two-factor authentication, making secure communication a top priority. This also means that the timing of the notification has to be extremely well managed.
The lead engineer tells us that they’ve built an in-house communications service. However, it requires more engineering effort, and it's not efficient enough to handle the increasing load or the ability to scale up substantially, and all that without getting the costs through the roof.
Here’s where Fyno steps in and simplifies the entire process there enabling businesses from around the world to send meaningful notifications. Fyno compliments existing partners, such as Gupshup, by providing an additional layer of intelligence to handle whitelisting and other communication requirements. The beauty of Fyno is that it requires minimal effort to set up a service provider, as it only needs a user ID and password/token.
Template management is also made a breeze on a platform like this. It takes all of 10 seconds to edit, rewrite and save a new template. You can now make these changes in just a few clicks, and can easily eliminate the need to rush to the engineering team for every small change required.
Fyno also provides load balancing, which means that if one provider is not giving good results, or a particular notification could not be sent, businesses like the one mentioned in this case study can switch to another provider seamlessly without affecting the user experience. This feature is critical for such a platform, where communication is a vital aspect of their services.
Another advantage is that it can be used even if a business does not have an email gateway. Taking the example of such a case, you can send emails via Gmail as a provider, making it a versatile solution for any and all communication needs.
Building an internal notification stack can be time-consuming, and expensive, and can drain your resources, which can otherwise be used for your core offering and product. Communication is a big part of every business, but never the main element. By using existing resources for communication, businesses easily slip into diluting the combined efforts. Whereas, a platform like Fyno focuses mainly on scaling communication needs. So you focus on your business, and we’ll focus on your communications.
In conclusion, using an intelligence layer like Fyno helps businesses scale up their communication efforts without significantly increasing costs or putting additional strain on their engineering resources. This solution ensures that their users receive secure and timely communication, enhancing the overall user experience on the platform.
Until the next,