Streamlines sign-ups to <90-seconds with Stytch's SMS Passcodes
Unbanx is on a mission to bring the value of Web3, open banking, and open data to real people. The startup recently launched an app that lets users share their anonymized transaction data, pool it with other users’ data, and sell it in an attractive, aggregated package to qualified buyers. That’s why Unbanx calls itself the world’s first consumer transaction data union. It empowers people to unite and monetize their own data, instead of allowing it to be exploited by major companies.
To optimize their sign-up flow and boost performance, Unbanx presented a steep challenge to auth providers. Users needed to be able to complete their app’s three-part onboarding flow in under 90 seconds — without compromising on security. Enter Stytch’s passwordless SMS Passcodes, which met (and surpassed) their expectations.
“We’re building both a platform and a community that empowers people to unlock the value of their own data. To get our solution off the ground, we needed the most secure, frictionless authentication solution for our users — and Stytch was the answer we were looking for.”
— Alan McDonald, co-founder and CEO, Unbanx
- <90-second onboarding: Thanks to Stytch’s frictionless SMS sign-ups, Unbanx’s users can complete the app’s three-part onboarding flow — including submitting personal details and linking their bank account — in under 90 seconds.
- Better developer experience: Stytch was easy to integrate compared to Amazon Cognito, the provider Unbanx’s team had worked with on earlier projects. Plus, Stytch’s flexible solutions offered greater opportunities to customize their app’s UI.
- Seamless scalability: Unbanx plans to expand their app’s capabilities in the next few years, and Stytch’s comprehensive product suite offers several passwordless options to evolve their auth.
To maximize adoption, Unbanx needed a secure, easy-to-use sign-up flow that would streamline their app’s onboarding process and drive higher conversion rates.
Members of the Unbanx team had worked with Amazon Cognito for past projects. But when it came to their new app, they didn’t want Cognito’s cumbersome password requirements and lengthy, friction-filled reset flows to get in users’ way.
That’s when they found Stytch’s passwordless SMS One-Time Passcodes, which can verify users via text with just a few clicks.
With Stytch as their provider, Unbanx was able to easily integrate an auth solution even as they finished up the beta version of their app.
Now, users can move speedily through their app’s sign-up flow before inputting their personal details and connecting their bank account. The entire process falls well under the “90-second challenge” Unbanx set as an onboarding goal — and users don’t have to generate and remember a complex new password to get started.
Unbanx envisions a not-distant future where users can leverage the app to improve their credit scores and tap into alternative lending sources. In the meantime, Unbanx is helping as many people as possible sign up, take ownership of their data, and earn income from what’s rightfully theirs — with Stytch by their side.
- Decreased development time: The Unbanx product team was able to keep working on their core platform while integrating with Stytch.
- Reduced friction: Unbanx wanted users to navigate fewer screens and buttons upon sign-up. With Stytch’s SMS passcodes, they ended up exceeding their own expectations.
- Customizable flows: Stytch’s solution enables Unbanx to customize their app’s UI. For example, they can craft their own error messages and alerts for users who enter the wrong information.
- Continued growth: Stytch will play a big role as Unbanx develops its product roadmap and reduces friction even further. For example, Unbanx is looking into Stytch’s OAuth solution, which instantly verifies users through existing accounts on Google, Facebook, and Apple.
“Without Stytch’s passwordless SMS solution, we likely wouldn’t have hit our 90-second sign-up goal. When people are forced to use passwords, they tend to have to enter credentials multiple times to meet security requirements, increasing the time it takes to set up an account.”
— Alan McDonald, CEO, Unbanx
The bottom line
With its new app, Unbanx empowers every user to manage and monetize their own banking data. Stytch’s SMS Passcodes help make this possible by providing simple, passwordless auth that enhances security while reducing friction.