BUSINESS CHALLENGE

Vitalswap, a money transfer platform for African immigrants, struggled with trust and low satisfaction due to high fees and security issues. Users preferred smaller, frequent transfers over larger, cost-effective ones. The platform's lack of transparency and community verification made it less competitive against traditional services.

RESULT

By redesigning Vitalswap's platform, I introduced a peer-to-peer marketplace model that slashed transfer costs from 12% to just 3.5%, ensuring more funds reached families in Africa. Implementing an escrow system eliminated lost funds, boosting user confidence and increasing average transaction sizes by 167%. This redesign also led to a 189% increase in new users, primarily through community referrals, showcasing the platform's enhanced trust and efficiency.

SOLUTION

I led the transformation of Vitalswap's platform by implementing a peer-to-peer marketplace model with robust institutional safeguards. This allowed users to connect directly with verified currency exchangers, bypassing traditional banks to secure better rates. Exchangers were required to verify their credentials through business licenses, bank partnerships, and government certifications, ensuring a secure and trustworthy environment.