How to engineer virality in Fintech Apps

Theo Ohene
October 16, 2023
min read
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The fastest-growing companies leverage virality to accelerate their growth.

Lenny Rachitsky spoke about the different types of product virality.


Here's some simple tips to engineer virality into your product:

1) Ask for shares early

The earlier you ask for shares, the shorter your viral loop.

Ask for early in the onboarding flow.

Vemno makes this one of the early steps for a new user.

Some users may want to see value first.

Many will be happy to refer.

2) Make inviting others part of the product

If someone sends users money and they just need to sign up to a tool to access it, they will sign up straight away.

This was one of the key ways Paypal grew so fast in its early days.

It was an inherently viral product where part of its utility involved inviting others.

Wise too was able to leverage a similar mechanic.

Anytime you are dealing with payments, you have an opportunity to bring more users into your platform.

3) Make users feel comfortable referring

Robinhood lets users upload their contacts to reduce friction.

But they also assure users their contacts are safe.

Users won't share if it could lose them social capital.

Give them control. Let users edit the referral message.


4) Make your product Passively Seen

When you receive a Stripe invoice, their branding is clear for you to see.

Similar to the famous, "sent by iPhone" or "Sent from Superhuman", a branded invoice can have the effect of making a user want to sign up.

So it's important to make sure you branding is clear and has a simple flow that allows a user who sees it to easily sign up.

5) Add the element of surprise

Humans are wired to want rewards.

We especially appreciate novel ones.

Freetrade offers a random free share when you share.

This creates a powerful variable reward.

Users may be more inclined to share knowing they may get a nice surprise.


7) Make your product remarkable

What makes a great product?

It helps people consistently achieve their goals and solve their problems.

Speak to your potential customers.

Understand their problems, wants and needs.

Build your product accordingly.

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Theo Ohene

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