Case of success
Rappi - Google Maps
Using location intelligence to enable new digital banking models in Latin America
rappi uses Google Maps Platform to enable location intelligence in its core banking, creating a banking model where customers can start using financial services as quickly as ordering a hamburger.
Results
- Reduce the costs of unrecognized charges by 30 percent by reducing call center interactions, emails, and chats.
- Improves profitability by 70 percent compared to traditional banks.
- It enables the rapid deployment of new financial services for people in regions with insufficient access to banking services.
- Increase trust among users through greater transparency in financial transactions.
- Reduce DevOps time and resources in maintenance and administration through pre-engineered APIs.
- Accelerate credit card approvals for new customers.
As more communities use digital services to purchase items online and access everyday services, expectations for highly reliable, simple, and secure experiences are rising. Within financial services, the pressure on businesses is even greater given the need to balance high-quality interactive experiences while protecting sensitive customer information as part of more complex transactions.
Rappi, which launched in 2015 as a delivery service for electronics, food, groceries, household items and more, acknowledged a lack of digital payment options in the countries it serves, including Colombia, Mexico, Brazil. and Argentina. In 2019, it decided to enter the financial services industry by implementing its own credit card to help the unbanked and underbanked people living in the countries it serves.
“If you look at financial services in many Latin American countries, they are often based on technologies from the 1970s and 1980s,” he says. John Paul Ortega, co-founder of rappi. “We especially wanted to provide the unbanked and underbanked with streamlined digital services such as instant bank transfers. With that in mind, we set out to establish an infrastructure that enables payments using microservices.”
Given that Latin America has some of the lowest approval ratings in the world for credit and debit cards, Rappi knew that he had the opportunity to better serve people in the region by making their credit card applications also easier to complete and submit.
Maximize the transparency of transactions
through geolocation ...
Rappi sought to create the smoothest possible customer experiences by putting more data in the hands of customers, something he believed was seriously lacking in traditional banking services.
"In Colombia, for example, there are banks that do not show when or where a transaction took place, even a few days after it took place," says Juan. “That was our first goal, and we used the Google Maps Platform APIs as Places , Geographic coding and Static maps to be able to include information such as the address and show someone on a map where the transaction occurred ”.
We would have needed a lot more time and expensive development resources if we had tried to reverse the geohash and manually put latitudes and longitudes in our service. With Google Maps Platform, we only need about five minutes for everything to work.
– Warren gutensohn , Product Manager, Rappi
Rappi uses internally developed machine learning solutions in the background to encode information in a way that is easy to read and understand. This relatively small improvement in transparency not only gives Rappi credit card customers more confidence in their digital transactions, it also reduces costs thanks to fewer support ticket requests due to unnecessary confusion or disputes.
Google Maps Platform proved to be the right choice given its availability in Latin America and the ease of entering addresses and other data to geocode correctly. Out of the box APIs offered through the Google Maps Platform accelerated time to market on the financial services side of the business.
"We save a lot of time with Google Maps Platform," says Warren Gutensohn, Rappi Product Manager. “We would have taken a lot more time and expensive development resources if we had tried to reverse the geohash and manually put latitudes and longitudes in our service. With Google Maps Platform, we only needed about five minutes for everything to work. "
Betting on transparency also turned out to be the right choice. Rappi customers repeatedly say that the map feature is their favorite component of Rappi's new digital credit card and financial services.
About the partner
Servinformacion SA
Servinformacion SA
We are a data company, leaders in the development of solutions that organize and enrich the information of our clients.
Products:
Google Cloud Platform
Professional Services
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