Time is money: reducing friction in the credit journey

Parcelex, a buy now, pay later (BNPL) fintech, was experiencing customer drop-offs throughout its credit application and onboarding journey.

These drop-offs represented potential business opportunities, but limited event tracking, automation, and integration across Product, Marketing, and Customer Support made it difficult to identify where customers were abandoning the process and act quickly to re-engage them.

The challenge was to understand the main sources of friction across the journey and build an operation capable of responding to them more effectively.

Working with Product and Engineering, I led the mapping of the credit application journey to identify friction points, customer drop-offs, and recovery opportunities.

The analysis revealed that 44% of the potential financing value associated with drop-offs was concentrated at the selfie identity verification step, excluding credit denials. Because these customers had not completed the credit assessment, their eligibility was still unknown. This reinforced the importance of investigating the friction at that stage and responding quickly to avoid losing potentially viable applications.

Based on these findings, we implemented event tracking, organized behavioral data, developed CRM segmentation, and structured transactional messaging, automated communications, and Customer Support outreach flows.

The goal was to reduce the time between a customer abandoning the journey and the first recovery action being triggered.

• →From 6 hours to 20 minutes to trigger onboarding drop-off recovery actions.
• →An integrated recovery operation combining event tracking, CRM segmentation, automation, and Customer Support, enabling faster follow-up and laying the groundwork for future lifecycle marketing and conversion initiatives.