Currencycloud Takes Control of the Customer Experience

Currencycloud has deep expertise in navigating complex financial transactions, but when the company needed help managing the complexity of customer experience, they turned to Gainsight for help. Using Gainsight customer success tools, Currencycloud deployed better metrics that gave them visibility into the customer journey, unlocked efficiencies that helped their Customer Success team operate more efficiently, and honed their strategy with information gleaned from Gainsight’s thought leadership and best practices.

Currencycloud, a Visa solution, helps their customers build better financial infrastructure. Their fully cloud-based SaaS platform enables banks, Fintechs, and other companies to move money across borders and transact globally in multiple currencies. These international finance products have proven to be an international success, as the company has processed more than $100 billion in payments to more than 180 countries since 2012.

But while Currencycloud was becoming the world’s leading embedded finance payment platform, they were also attempting to embed customer success within their Revenue function. They knew they needed a specialized customer success team that was distinct from their traditional sales
and account management team. But they didn’t have the capabilities in place to make the team operate effectively.

For one thing, Currencycloud lacked clear visibility into the health of individual customers. They had systems like Tableau for business intelligence data, but interpreting the data and settling on basic measures like the health score was a challenge.

And we certainly could have tried to tailor Salesforce for customer success.” However, a visit to Gainsight Pulse inspired Ian to take a different approach.

“It made sense to go for Gainsight, which is a bespoke customer success tool that helps facilitate and arm not just the Customer Success team, but the entire business with the information we need—about both what we were doing and what we could do better.”

The primary Gainsight tools that Currencycloud deployed early on were Scorecards, Timelines, and Rolling NPS surveys.

For Ian, Net Promoter Scores (NPS) as they were commonly used were a lagging indicator with limited utility for the Customer Success team. To transform NPS into a leading indicator, he implemented a Rolling NPS strategy, with NPS averaged over six months for every customer.

Gainsight has made the Customer Success team more efficient in dealing with the volume of accounts they have in their portfolio. Customer Success Managers (CSMs) are no longer required to pull information from more than a dozen different data sources and then interpret the raw numbers into something useful every time they want to create a health score.

With Gainsight, CSMs can quickly move through the initial stages of data collection and analysis and get straight into uncovering insights.

This Gainsight-powered efficiency has allowed the team to focus on customers who are in the red from a health score perspective. When cross-referenced against which customers generate the most revenue, and/or have the best potential for growth, the team has a clear idea of where to focus their time and effort.

Now, they are able to proactively engage high-priority customers at risk of churn before it becomes an urgent situation.

For Ian and Currencycloud, choosing Gainsight was about more than just adopting a platform. It was also about finding a partner.

Gainsight gives Currencycloud unrivaled access to thought leadership and best practices through events like Pulse. Gainsight also offers expertise directly through their relationships with Gainsight consultants.

Adopting Gainsight transformed Currencycloud’s entire customer success strategy, beyond the tech stack.
“With our new customer success approach, we were able to radically change the way we view and support our customers,” said Ian. “And Gainsight was crucial to that.”

For companies who have just started with Gainsight, Ian has some advice. “Customer Success Operations is worth the investment. It will help you reach your customer success goals much more quickly and you will get more out of Gainsight—or any customer success platform, really.”

His second piece of advice is not to overcomplicate the customer success strategy, especially at the beginning.

“You don’t need to achieve perfection straightaway,” says Ian. “Iterate, do the simple stuff, get that working, and then move onto the next thing.” For example, it is better to have a health score that is useful and helps you get to the right questions quickly, even if it isn’t perfect.

The next goal for Currencycloud is to nail down their adoption metrics. “Our plan is to make sure our adoption metrics are aligned and integrated with timelines, health scores, and all the rest of our KPIs, which are generated from the pure usage metrics gathered in Gainsight.”

In the big picture, Currencycloud is looking forward to continuing their partnership with Gainsight.