When investing in bullion, you want to know two critical things: that your wealth is secure, and that you can access it whenever you need to, add to your holdings, or sell it on. These are compelling reasons to keep your investment in a vault, where you know it’ll stay safe and sound. They’re also two major driving forces behind the move toward mobile trading.
BullionVault, the world’s largest online investment gold service, provides private investors with access to the professional bullion market. It also prides itself on its ability to deliver this in a way that’s safer, cheaper and easier than any other firm.
This means that operators who haven’t invested in the tools to improve their service experience (whether customer- or agent-side) become vulnerable to customer attrition. There’s also the likelihood of falling behind competitors when it comes to overall innovation. On the other side of the story, Telcos who already have the technology to deliver a smooth customer experience are freed up to focus on improvements in agility and performance – all of which add to their brand image. It was in this context that the customer service function of a leading global telecoms operator was struggling to deliver the right level of value to customers. As well as causing a high operating cost of costumer care, this situation resulted in a low customer satisfaction scores (NPS, CSAT, FRT, AHT, etc.) and poor reviews on sites like Trustpilot – which, in turn, influenced the company’s brand perception. Offering a wide variety of products and services, the operator required a complex suite of tools to support its customer care teams. It also struggled to make the most of its data. The sheer amount collected and exchanged had created huge sets of information that no one had been able to curate or analyse.
On top of this, the lack of performance data made it difficult to identify the key areas for improvement. It was hard to tell which product support areas were underperforming – and what tools they needed to improve. And this made it near impossible to take a targeted approach to the problem. This is why BullionVault asked Invenica to develop the mobile functionality of its trading platform, with the aim of attracting new investors, increasing trading volumes and improving customer retention rates. The key to this was creating a seamless, integrated and – above all – simple user experience across web and mobile app interfaces.
What we did
Convenience was a critical factor in the mobile platform’s development. BullionVault wanted the lowest possible barrier to entry for users, so Invenica leveraged HTML5 and Bootstrap to create an intuitive interface designed for simplicity – allowing investors and traders to get all the information they needed in the palms of their hands. Using the app would be as simple as the trading process itself.
In addition to this, Invenica made sure that the mobile experience included all the features available to users on the existing web platform. After all, it didn’t matter how easy the app was to use if it didn’t deliver the features that BullionVault’s clients expected.
It was also vital for the new system to integrate with the web platform. The syncing of orders and access to market data are seen as the two most important capabilities for any trading app to provide, which would affect the ability for BullionVault to attract new investors. Invenica saw to it that users were able to see the same information across iOS, Android, mobile web and desktop.
Despite the need for simplicity, security was another key concern. This was no surprise given users were technically able to access bullion vaults from wherever they were in the world. Creating new access points to BullionVault’s platform increased the risk of vulnerability and attack, so Invenica built effective security features into the app – making it as safe as the vaults themselves.
What we delivered
Overall, the Invenica team was able to deliver a new, convenient, and secure mobile experience for trading commodities. It also helped BullionVault to create a new channel opportunity to acquire new customers and differentiate its offering against competitors.
Developing an intuitive interface that offered easy access to BullionVault’s trading platform for new and existing users alike, Invenica was able to:
- Reduce the number of support requests
- Increase trading volumes using the app
- Drive higher existing customer retention rates
Thanks to Invenica, BullionVault users were now able to access the professional bullion market from mobile devices, enjoying a seamless and integrated experience that made their trading activities safer, easier and cheaper.
