👥 The team has formulated a product strategy to reach 2M users by Q3 of 2021
📈 Depositing flow smoothened for users outside the US
🌐 Digifox is now accessible in over +150 countries across the world
👨💻👩💻 Customer support avg. response time down to 1 hour globally
📊 Twitter following grows to +1,000
Formulating our vision ⛰️🚩
As CEO of Digifox, I spend the first two hours of just about every day answering customer support tickets. Some would say a founder shouldn't dedicate their time to this activity, but I feel that couldn't be further from the truth.
For me, it's both humbling and grounding. I not only get the motivation of talking to our happiest users who can't help but share their positive experiences using Digifox, but I also get direct insight into the flaws our app has. Many companies, and especially many CEOs, don't want to hear it.
"Don't they just get that it works? Don't they see how great our platform is? Do they not realize the vision?"
Turns out, if you find yourself saying any of the quotes above, the problem likely isn't the user, it's the company (or in most cases, the founder).
With over 700 unique support ticket cases within the Digifox app, we've radically fixed bugs, added improvements, optimized performance, and above all, taken feedback from users that will further shape our vision as a company. You'd be surprised just how much you can learn from 700 users across the globe! Today, we're announcing our roadmap to get to 2 million active users by Q3 of 2021 (more on this later).
Phase One: Better Finance 🦊
Q3-Q4 of 2020, Estimated Users: +150,000 Active Users
Summary: Make Digifox the all-in-one app for crypto users & neo-bank users
Our initial goal is to make earning interest and trading crypto as simple as possible. Period. Right now, users across the vast majority of developed countries are earning nearly nothing on their savings, and crypto has reached less than 1% global adoption.
That's why we'll initially focus on making these two focus points as accessible and intuitive as possible for the end user. By upgrading onboarding, providing clarity, and rewarding those who spread the word, we're going to bring better finance to a sizable, nimble, and driven community of "finance-savy" users.
Phase Two: Payments 2.0 💸
Q1-Q2 of 2021, Estimated Users: +500,000 Active Users
Summary: Revolutionize payments & step out of the crypto world.
Payments are still till this day outdated. Venmo, CashApp and Zelle have two key issues. First, they're siloed payment applications that usually limit you to one or two main features, restricting you the freedom as a user. And second, the core thing they're built to do isn't all that great. Transactions can take multiple days, and if you want instant settlement in some cases, you have to pay up to 1% of the transaction in fees. In our mind, payments can be much better.
We'll not only make people rethink their expectations on how money is sent, but add a suite of features that make the flow of money a breeze from within the Digifox app.
This phase, though heavily focused on payments, will also come with new features outside of this topic. But for now, we'll have to keep quiet...🤫
Phase Three: Replace The Banks 🚀
Q3-Q4 of 2021, Estimated Users: +2,000,000 Active Users
Summary: No more bank, no more countless apps; everything you need, all in one place.
It's both a major challenge and a reasonable one. Taking on the traditional banking system, considering the behemoth it is, will be incredibly difficult. Most importantly, it'll be important to see how the industry reacts to the new tsunami of fin-tech innovation that will be arriving in the coming year or so. But the task is a reasonable goal simply because there's not much to compete against. We just need to bring in all your needs into one app, like your bank should have done a decade ago.
At this point , you'll be able to do everything, from short-term activities like trading crypto/stocks & making payments, to saving for your future and planning your retirement. For the first time in history, billions of people will have a solution that meets their full scale of financial needs, all from one app.
It's important to understand that even though Digifox will be offering its own in-house services & features, many of which will be free for our users, but we also aim to aggregate the best providers on the market as we already have for services we feel others do best. We believe collaboration will help us become the #1 app people turn to, bringing the best services into one simple and clean interface.
It's important to realize these tasks will not be met overnight, and in all honesty, it may take longer for us to reach these goals. But we believe in setting goals that count, and meeting the vision we share for Digifox as quickly as we can.
But going back to the first point, so long as we listen to our users, help them grow, and expand Digifox to becoming the app they want, success is simply on the horizon.
We're so happy you're here on this journey with us, and together, let’s work towards building a future that services the people 🦊🌅
Nicholas A. Merten
Founder & CEO of Digifox
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