How Brazil’s Neon Pagamentos is Pioneering Modern Banking with Conversational Messaging

By Tracy Oppenheimer

This fintech startup is transforming the finance industry by putting the customer experience first. By using Helpshift as its customer service platform, Neon Pagamentos has been able to significantly reduce costs (phone-based interactions only make up ¼ of tickets but cost 3x more), seamlessly scale to support 600,000 users, and provide a fully conversational messaging experience that results in a consistent 4+ CSAT.

Neon Pagamentos, a Brazilian fintech founded by Pedro Conrade in 2016, has had an exciting year. In May, the startup raised Brazil’s largest-ever series A round of venture capital funding with $22 million. The consumer-first fintech has also since found a new banking partner, and continues to grow — massively.

This startup is fighting the status quo in Brazil, a country that has some of the highest interest rates in the world, often surpassing 300 percent for credit cards. This makes for a torrid relationship between consumers and the traditional banking bureaucracy.

“Neon Pagamentos is a fintech with the goal of making the financial life of its customers easier,” said Luiza Oliveira, Director of Client Experience. “We want to provide a great experience to our customers, we want to be transparent with them, to solve problems faster, to change their relationships with banks.”

This mission is resonating so well with consumers that the digital bank has already reached a user base of 600,000 in its first two years. The company has also set a high-growth target of acquiring one million users by the end of 2018 — that means an influx of new customers who may come with an influx of potential new questions.

“We promise our customers that we’re going to take care of their problems and that we’re going to provide an efficient communication channel,” said Oliveira. That’s priority zero.

Helpshift Messaging is that “Efficient Communication Channel”

For Oliveira’s team, a key component to improving relationships and solving problems faster is by offering a conversational messaging experience.  

“Nobody, I mean almost nobody, wants to spend minutes or even hours on the phone to solve a problem,” said Oliveira. “We chose Helpshift because it fits our needs, because it is the best way to solve our customer issues faster, because it is friendly and because we can create automations to help us when demand is higher.”

Not only is conversational messaging the team’s preferred mode of communication from a convenience standpoint, but it’s also more cost effective than other channels. “Our toll free phone represents 1/4 of our tickets but it costs three times more,” said Oliveira. “We only keep it because we are obliged by law here in Brazil.”  

Conversational messaging is simply more scalable. Agents can work on more than one ticket at a time, and customers don’t have to wait around on hold for a response. Similar to a Whatsapp or iMessage conversation with a friend, customers can return to the support conversation at their leisure and pick up right where they left off.

The support team also uses automations for ticket routing and SLA management to ensure a speedy response to urgent issues. Advanced platform analytics have been an important tool as well, not just for the team — but for the success of the brand as a whole.

“We give insights through data (ticket tags) to the entire company and show them where we have to improve, where we are making mistakes, and how our customers are dealing with changes in the app,” said Oliveira. These insights help shape the product updates and vision, improving overall customer satisfaction, as well as rates of retention and acquisition.

Fintech Maintains High Customer Satisfaction Amid Growing User Base

Despite the startup’s massive growth and accompanying changes to funding and partners, its focus on customer service has paid off. Customer queries have nearly doubled this year, but the seamless and streamlined support across mobile and web channels has allowed Neon Pagamentos to maintain well over 4+ CSAT, with a 4.6 star rating in the iTunes app store.

“Honestly I think that our main goal is to find out how to make customers not contact us,” said Oliveira. That doesn’t mean making it harder for customers to contact them, though. It’s about creating a service that works so well, customers don’t need to reach out for help. “We always put ourselves in the customers’ [shoes] so that we can think of and develop the best solutions that are really going to add value to their lives!”

Learn more about getting started with conversational messaging though Helpshift’s AI-powered customer service platform here